Netevia to provide same business-day settlement and funding for merchants
MIAMI, FL, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a global technology and value-added solutions group, today launched its newest multi-channel payments platform, Netevia. Connecting and simplifying payments across sales channels through a single integration point, Netevia delivers end-to-end payment processing through easy-to-use APIs. This model complements Net Element’s ability to perform in a multi-channel environment, including point-of-sale (POS), e-commerce, mobile devices and will enable the company to perform in blockchain technology solutions.
Netevia will form part of the recently announced decentralized blockchain technology solutions that enable an unlimited number of value-added services (“VAS”) to connect merchants and consumers via blockchain technology, while increasing economic efficiency of all transactions being made within the ecosystem. With new features to be implemented on the platform, Netevia plans to disrupt everyday commerce.
Netevia features a user-friendly developer center with language-agnostic APIs, SDKs and sandbox for testing. Netevia is fully integrated with major payments platforms and smart payment terminals that allow merchants to accept most payment methods in multiple currencies internationally. A flexible payments hub makes it easy and fast to add new features and services as payment needs evolve. Additional security and fraud prevention options within the Netevia platform include more than 150 risk monitoring filters, vaulting, tokenization and point-to-point encryption which reduce the PCI DSS scope and help minimize compliance burden.
Integrations with major payments platforms make it possible for merchants and developers to integrate payment acceptance into everyday commerce through easy to use APIs, no matter what device is being used. Instant merchant on-boarding, same business day settlement and funding, as well as value-added features such as gift and loyalty business solutions drive repeat business and increased sales. Payment conversion and smart-routing optimization help merchants reach up to 99.2% conversion rates, which translate into increased revenues. This transparent, turn-key solution with low processing fees is available with no setup, monthly or hidden fees. Visit www.netevia.com for more information.
“Netevia was designed by developers with developers in mind,” commented Andrey Krotov, Net Element’s chief technology officer. “We put together all the building blocks needed for developers and merchants to integrate payments into their everyday commerce. The Netevia platform delivers a blueprint and easy to use tools for global commerce and monetization, saving developers and merchants time and money with one provider and one integration across all sales channels.”
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise ("SME") in the U.S. and selected emerging markets. In the U.S. it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, our cloud based, restaurant and retail point-of-sale solution. Internationally, Net Element's strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest growing companies in North America on Deloitte's 2017 Technology Fast 500™. In 2017 we were recognized by South Florida Business Journal's as one of 2016's fastest growing technology companies. Further information is available at www.netelement.com.
Forward-Looking Statements
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to the timing of completion of new features for the platform, whether contemplated projects and the utilization of blockchain technology will be successful, whether the addition of blockchain technology-focused payment processing solutions business will indeed become a framework for multiple value-added services, whether the features on the platform will disrupt everyday commerce, whether the Company will be successful in expansion and growth endeavors; and even if it is successful in any or all of these endeavors, whether this will positively impact the Company or result in improved shareholder value. Additional examples of such risks and uncertainties are: (i) Net Element's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element's ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element's ability to successfully expand in existing markets and enter new markets; (iv) Net Element's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element's business; (viii) changes in government licensing and regulation that may adversely affect Net Element's business; (ix) the risk that changes in consumer behavior could adversely affect Net Element's business; (x) Net Element's ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of further U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.