MIAMI, FL--(NewMediaWire - Jul 26, 2017) - Net
Element, Inc. (NASDAQ: NETE) ("Net Element" or
the "Company"), a global financial technology and value-added
solutions group that supports electronic payments acceptance in an
omni-channel environment spanning across point-of-sale (POS),
e-commerce and mobile devices, today announces that its PayOnline
subsidiary has expanded its payment acceptance to include iDEAL
(https://www.ideal.nl/en/), a popular e-commerce payment
system and market share leader in the Netherlands.
According to a recent e-commerce report by
Thuiswinkel.org and the Ecommerce Foundation, the iDEAL payment
system is the most a widely used method of online payments in the
Netherlands, accounting for 54% of all Dutch online payments and
over 220 million transactions, as of 2015. Furthermore, Dutch
online spending in 2016 grew over 23% to exceed 20 billion euros,
and approximately 95% of the country's age 15+ population are
shopping online. Entering this attractive market allows PayOnline
to reach a wide audience and has the potential for increasing
revenues.
With payment acceptance through iDEAL now available to PayOnline
merchants registered in the European Union, PayOnline also plans to
connect to similar European payment systems, such as SOFORT, which
unites Internet shops, cloud providers for e-commerce, and banks in
Germany, Austria, Switzerland, the Netherlands, Belgium, Poland,
Hungary, Italy, Spain, France, Great Britain, Slovakia and the
Czech Republic. These arrangements facilitated by PayOnline allow
for greater consumer flexibility, adding expanded banking options
with safe and secure payment transactions online.
About iDEAL
iDEAL is a method of payment that allows customers to make online
payments directly through their bank. The banks participating in
the iDEAL payment network are ABN AMRO, ASN Bank, bunq, Friesland
Bank, ING Bank, Knab, Rabobank, RegioBank, SNS Bank, Triodos Bank
and Van Lanschot. Since its inception in 2005 in Netherlands, iDEAL
has processed more than 1 billion online payments. This payment
method is supported in 100,000+ online stores and online services.
The iDEAL brand has been among the Top-10 for some years among some
of the most recognizable and indispensable companies in the
Netherlands, and more than 60% of buyers prefer it to all other
payment methods. Further information is available
at www.ideal.nl/en/.
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 US and
selected emerging markets. In the US it aims to grow transactional
revenue by innovating SME productivity services such as its cloud
based, restaurant and retail point-of-sale solution Aptito.
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
such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where
initiatives have been recently launched. Net Element was named in
2016 by South Florida Business Journal as one of the fastest
growing technology companies. Further information is available
at www.netelement.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the 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. These forward-looking statements include, without
limitation, whether the relationship with iDEAL will result in
increased revenues or will be beneficial to the Company, whether
PayOnline will be successful in connecting similar European payment
systems such as SOFORT, whether Net Element can secure any
additional financing and if such additional financing will be
adequate to meet the Company's objectives. 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: (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 and the subsequently filed
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.