MIAMI, Oct. 8, 2013 (GLOBE NEWSWIRE) -- Net Element International (Nasdaq:NETE), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries, is pleased to announce the launch of "TOT Platform" - a value-added transactional services platform. Launched in partnership with PAY.ON, the world's leading operator of multi-channel payment infrastructure systems, TOT Platform will be the first offering of its kind in the region and will allow Net Element's subsidiary TOT Group to offer its client-base innovative solutions in mobile payments and transactional services.
TOT Platform is a high-performance transaction processing platform that complies with security standards and requirements applicable to the international payments market. The launch of TOT Platform will enhance TOT Group's suite of value-added, innovative technologies and services in emerging markets.
Commenting on the launch, Oleg Firer, Net Element's chief executive officer, said, "The announcement of TOT Platform further demonstrates Net Element's commitment to creating innovative and practical solutions for emerging markets that function as fully integrated operations and marketing tools for TOT Group's clients and partners." Konstantin Zaripov, CEO of TOT Group Russia, added, "We are the first company in the region to offer this level of compatibility and capability -- and an entire suite of solutions are in development in the mobile payments and transactional services sector."
"We are delighted to be furthering our partnership with TOT Group and specifically the TOT Platform suite of products," said Markus Rinderer, CEO of PAY.ON AG. "PAY.ON's multichannel payment infrastructure will provide TOT Group with the scalable platform to further develop and introduce innovative, value-added solutions to its clients."
While Russia is the first region to be activated, this same solution will be deployed throughout the worldwide emerging market regions that are supported by PAY.ON's infrastructure. PAY.ON's systems will be combined with TOT Group's industry-specific set of solutions including Aptito – Net Element's, next generation, cloud-based point-of-sale payments solution.
PAY.ON AG is the world's leading operator of multi-channel payment infrastructure systems and supplier of the white-label platform PaySourcing and the routing gateway PayPipe. PaySourcing makes it possible for customers to outsource all relevant payment and risk management processes or procure them via cloud computing and thus become a payment service provider themselves whilst saving money, time and resources. PayPipe is a high-performance payment gateway that connects all payment market participants with each other across the world via a single interface. Accordingly, PayPipe accelerates global availability for all market participants like no other network. PayPipe allows transactions to be processed online for all payment methods in all currencies and across all systems. All PAY.ON systems guarantee compliance with the security and requirements standards that apply to the international payment market. Further information can be found at www.payon.com.
About Net Element International (NASDAQ: NETE)
Net Element International (Nasdaq:NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The company owns and operates a global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Private Company in America in 2012, Aptito, a next generation cloud-based point of sale payments platform, and TOT Money, which has a leading position in Russia and has been ranked as the #1 SMS content provider by Beeline, Russia's second largest telecommunications operator. Together with its subsidiaries, Net Element International enables ecommerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the company for continued growth. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at www.netelement.com.
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 "will," "may," "could," "should," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the extent of transactional solutions, if any, that are successfully developed and/or launched via the TOT Platform; the extent that the launch of the TOT Platform enhances TOT Group's technologies and services; the extent that the TOT Platform is deployed in additional emerging market regions that are supported by PAY.ON's infrastructure and the timing of such additional deployments, if any; the extent that the TOT Platform is successfully combined with Aptito and TOT Group's other solutions and the timing of such combinations, if any; and whether Net Element International or its business continues to grow. 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 International and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element International's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element International's ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element International's ability to successfully expand in existing markets and enter new markets; (iv) Net Element International's ability to successfully manage and integrate any acquisitions of or joint ventures with 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 International's business; (viii) changes in government licensing and regulation that may adversely affect Net Element International's business; (ix) the risk that changes in consumer behavior could adversely affect Net Element International's business; (x) Net Element International's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. 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 International with the Securities and Exchange Commission. Net Element International anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element International 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.