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Net Element Launches Merchant Acquiring Enablement Services for Small and Regional Banks Catering to Fintech Startups

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Netevia HQ empowers small and regional banks to provide merchant acquiring and innovative payment services to attract Fintech startups

MIAMI, FL, Dec. 19, 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”), e-commerce and mobile devices, announces the launch of its merchant acquiring enablement services for small and regional banks in the US. 

Financial technology startups are capitalizing on consumers’ increased appetite for digital banking solutions. Global financing for the fintech industry hit a new record high in 2018, doubling the investments made in 2017 with over $40 billion invested in 1,700 deals according to a report from CB Insights.  Small and regional banks are actively looking to attract fintech startups to increase deposits, loans and fees. 

Merchant acquiring services stand out as one of the main customer acquisition tools small and regional banks need to provide to win fintech startups’ business.  Net Element provides fast-track merchant acquiring enablement services to these banks through its proprietary Netevia HQ platform, empowering them to become merchant acquirers within 90 days.  

The Company’s Netevia HQ is a robust back office solution with a variety of reporting and marketing tools that enables implementation of the latest technology in payment mechanisms and point-of-sale devices.  Netevia HQ allows banks to run an entire back office with multiple processing platforms and products, all completely integrated.  Some of the features include: 

  •  Complete business branding solution to assist banks develop their brand identity
  •  Management of ISOs with an unlimited number of Sub-ISOs and Agents
  •  Built-in support system
  •  Quick access to documents and forms for agents
  •  Equipment management and deployment
  •  Straightforward paperless merchant boarding flow 
  •  Merchant processing statements
  •  Automated underwriting and risks management systems
  •  Boarding, management and reporting API
  •  Value Added Services Management

“Small and regional banks understand that the ability to service fintech companies should include acquiring services as a must have offering.  The latest consolidation of largest acquiring and issuing platforms in the US market is an indication of this growing trend and current demands in the marketplace.  We aim to become a viable option to those banks and institutions that understand this demand and provide them an alternative and ability to differentiate themselves from the competition in this market,” commented Vlad Sadovskiy, President of integrated payments for Net Element. 

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 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 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 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 whether the Company will gain traction in its endeavors to deploy its merchant acquiring services to banks and institutions . Additional 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.

Contact:
Net Element, Inc.
+1 (786) 923-0502
www.netelement.com
Media@NetElement.com 

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