Aptito’s merchants will be able to accept major cryptocurrencies effective July 1, 2019
MIAMI, FL, June 20, 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 multichannel environment including point-of-sale (POS), e-commerce and mobile devices, today announces that Aptito will begin processing cryptocurrency payments for its merchants starting July 1, 2019.
The mass adoption of cryptocurrencies as a payment alternative continues to grow worldwide with Bitcoin being the most widely held cryptocurrency at a market capitalization of over USD $161 billion, followed by Ethereum at USD $28 billion and XRP at USD $17 billion (Coindesk). Aptito is launching cryptocurrency payment acceptance to capitalize on this growing trend and set itself apart from competitors. Starting next month, Aptito merchants will be able to accept all major cryptocurrencies.
Aptito’s software-as-a service (SaaS) point of sale and management solutions for the restaurant and hospitality industry are currently being used by merchants in over 15 countries. The launch of cryptocurrency payment acceptance through the Netevia Gateway allows Aptito to continue growing its client base worldwide without the need for local acquiring bank relationships regardless of the merchant’s geographical location. Aptito clients can download software through Apple’s AppStore, subscribe and begin accepting cryptocurrency and other forms of payments.
Recent news from Facebook about its plans to launch the Libra Association and the Libra cryptocurrency with soon-to-be founders such as MasterCard, PayPal, PayU, Stripe and Visa is further proof of continued interest and investment in the industry by leading social media and financial services companies. Aptito is ready to benefit from mass market adoption of cryptocurrencies as payment alternatives by providing its payments acceptance solutions to merchants worldwide.
“We are excited to launch cryptocurrency payment acceptance for Aptito’s clients through our proprietary Netevia Gateway,” commented Andrey Krotov, chief technology officer of Net Element. “Our scalable and future-ready platforms are on the-cutting-edge of global alternative payment trends.”
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. it 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 omnichannel 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, Net Element was recognized by South Florida Business Journal as one of 2016's fastest growing technology companies. Further information is available at www.NetElement.com.
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 whether Aptito’s solution for processing cryptocurrency payments will be ready for launch on July 1, 2019, whether cryptocurrencies will achieve mass market adoption, whether Aptito’s cryptocurrencies payments solution will be a success or e yield any benefits to the Company. 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; (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.