NEW YORK and MIAMI, Nov. 8, 2013 (GLOBE NEWSWIRE) -- Net Element International (Nasdaq:NETE) ("Net Element" or the "Company"), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries, is pleased to announce today that TOT Group, Inc. ("TOT Group"), Net Element's mobile payments and transactions processing subsidiary, has entered into a strategic payment processing relationship with merchant processing and other financial services provider, Excel Business Solutions, a subsidiary of Excel Corp. (OTC Bulletin Board: EXCC).
Excel Business Solutions seeks to expand its base of merchants, by working closely with Independent Sales Organizations ("ISO"s) and small to medium sized merchants seeking competitively priced credit and debit card processing and a high level of customer service. Under the terms of this agreement, Excel will bring their expertise in forging merchant relationships while TOT Group will provide Excel with a minimum of $450,000 over the next five months to deploy a line of exciting, innovative payment products including mobile payments technology, proprietary brands and exclusive marketing channels.
"We are excited to leverage TOT's key payment processing brands such as Process Pink and bring the value of our enhanced services and depth to a much broader audience across multiple retail channels," said David Popkin, CEO of Excel Corp. "Our goal is to enable payment solutions that help businesses improve their growth, financial goals and operational efficiencies. TOT shares our mission and commitment to support small to medium size businesses and find solutions to their processing needs. The relationship is expected to increase revenue growth for Excel, and at the same time allow us to introduce TOT's cutting-edge technology to our merchants."
"One of our keys to growth is partnering with proven business builders that share our passion for serving SMBs combined with the ability to deliver a new generation of innovative products and brands that are differentiated in the market place – all while keeping focused on helping small business connect with consumers and drive transactions," says Tim Greenfield, President of Mobile Commerce and Payment Processing. "Our other TOT brands such as Aptito – our next generation cloud-based point of sale payments platform -- will also benefit because we are gaining access to a vast number of merchants."
As part of the agreement, TOT will be a strategic partner in Excel's future growth and revenue goals. This is expected to allow Excel to continue investing in the expansion of their merchant business relationships, grow its sales team and offer more small merchant financial products.
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 and Aptito, a next generation cloud-based point of sale payments platform. The TOT Money Group 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.
About Excel Corporation (OTCBB:EXCC)
Excel Corporation is a provider of merchant processing services for the small to medium size businesses through its subsidiary Excel Business Solutions. The Company works with merchants to address their debit and credit card processing needs and partners with Independent Sales Organizations ("ISO"s). Their services help merchants who are seeking more competitive credit and debit card pricing and a higher level of customer service. Excel works with merchants to access electronic payment processing services, which include credit and debit card processing, check approval, and ancillary processing equipment and software services to merchants who accept credit cards, debit cards, checks, and other non-cash forms of payment.
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 business services and transactional solutions, if any, that are successfully conducted or launched as a result of the relationship between Excel Business Solutions or Excel's existing or future clients and TOT Group or otherwise; the extent that the relationship established between the said parties will benefit other TOT brands and enterprises, like Aptito or Excel's existing or future clients; the extent of the existing or new services and products offered by either party as a result of the relationship between Excel Business Solutions and TOT Group or otherwise; whether the relationship between TOT Group and Excel Business Solutions increases revenue for either Excel Corp. or Net Element International; and whether Net Element International or Excel 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/or Excel and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element International's or Excel's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element International's or Excel's ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element International's or Excel's ability to successfully expand in existing markets and enter new markets; (iv) Net Element International's or Excel'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 or Excel's business; (viii) changes in government licensing and regulation that may adversely affect Net Element International's or Excel'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 and Excel Corp. with the Securities and Exchange Commission. Net Element International and Excel Corp. anticipate that subsequent events and developments may cause plans, intentions and expectations to change. Net Element International and Excel Corp. assume no obligation, and they 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: MEDIA CONTACTS: Dan Bruck firstname.lastname@example.org (305) 507-8808 www.netelement.com Fran Del Valle (on behalf of Excel Corporation) email@example.com (212) 717-5499Source:Net Element International