Net Element Launches Netevia Light POS on Android-Based Smart Payment Terminals

Netevia Light POS Application is now Available on PAX Technology Smart Terminals

MIAMI, FL, Dec. 11, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Net Element, Inc. (NASDAQ: NETE) (“” 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 Netevia Light POS, seamless and secure mobile payments acceptance software on  by . 

Effective immediately, Netevia Light POS application will come bundled in PAX A920 and A80 smart terminals. The combination of Netevia Light POS application and PAX Technology’s Android-based interactive smart payment terminals offers a robust and flexible state-of-the-art solution to help merchants seamlessly transact across multiple touch points, providing a convenient way of doing day-by-day operations thru a modern, self-explainable user interface and user experience. Netevia Light POS application on Smart Terminals by PAX Technology brings all the functions and payment types of a classic POS terminal, packed in a modern more user-friendly application that helps merchants run their business.

• Easy setup
• All-in-one platform
• Fully compliant cloud-based solution
• Real-time reporting
• Smart inventory management
• Tip adjustment
• Discounts and loyalty management
• Client management
• Invoicing
• On screen signature
• Complete back office solution via Netevia HQ

Existing PAX Technology clients can download the Netevia Light POS application via the smart terminal by PAX Technology without the need for additional hardware and thereafter follow the configuration wizard to get their business up and running. Similarly,  clients have effortless access to the Smart Terminals by PAX Technology, empowering them with greater payment capabilities.

As part of Unified Payments’ comprehensive offerings, merchants can take advantage of the Unified Payments cash discount program as well as other innovative programs that help merchants reduce fees and expenses and increase sales. 

“Mobile payments market is growing rapidly and we are taking advantage of this trend by launching our proprietary software on multiple mobile touch points including PAX Technology smart terminal platform,” commented Vlad Sadovskiy, President of integrated payments for Net Element. “Our robust application and PAX’s powerful hardware will enable business owners to process payments with greater ease and more flexibility than ever before.”

About Net Element

Net Element, Inc. (NASDAQ: ) 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 , 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 .

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. An example of such risk and uncertainty is whether the Netevia Light POS software on Smart Terminals by PAX Technology  will gain traction and be a success for the Company. Additional examples of such risks and uncertainties include but are not limited to (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.