Aptito Becomes an HP Channel Partner for Sales and Support of HP POS Solutions
MIAMI, FL, April 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Net Element, Inc. (NASDAQ: NETE)(“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale (“POS”), today announces that its Aptito subsidiary has entered into a channel partner agreement with HP Inc. for sales and support of its line of Android-based POS devices.
The Electronic Transaction Association (“ETA”) Payments Trends to Watch report predicts that US merchants will spend nearly $2 billion on frictionless payment solutions such as technology-enabled integrated POS solutions (IPOS) in 2019, underscoring the value that advanced payments solutions provide to merchants and payment service providers. Net Element is poised to benefit as these merchants upgrade their traditional POS systems to user friendly IPOS solutions that inspire customer loyalty and maximize revenue potential.
According to the U.S. Small Business Administration there is an addressable market of an estimated 600,000 small and mid-sized businesses (SMBs) in the United States. Aptito’s goal is to provide its restaurant management software-as-a-service (SaaS) alongside HP’s POS solutions to offer SMBs cutting-edge technology and competitively priced value-added services backed by HP’s global sales and support. In addition, HP’s Android-based IPOS solutions come with a full suite of retail peripherals and accessories that can be used as tools for assisted selling and mobile transactions.
“We are excited to work with HP to deliver our SaaS in their IPOS solutions to our existing and new merchants worldwide,” commented Andrey Krotov, President of Aptito. “Aptito is currently deployed in 16 countries and growing, HP’s global sales and support provide a springboard for continued expansion.”
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., the Company aims to grow transactional revenue by innovating SME productivity services using various 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 and 2018 Technology Fast 500™. In 2017 we were recognized by South Florida Business Journal 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 whether the Company will benefit from any merchants who upgrade their traditional POS systems, whether Aptito will be successful in its restaurant management SaaS initiatives and whether the relationship will result in continued expansion for the Company. Further examples of such risks and uncertainties include but are not limited to (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; and (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.