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Net Element's Aptito Launches in Russia: Aims to Lead in Underserved POS Software Market

MIAMI, FL--(Marketwired - Mar 16, 2016) - Net Element, Inc. ( NASDAQ : NETE ) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announced the launch of Aptito, its proprietary, cloud-based interactive point of sale ("POS") and business management platform for the hospitality industry in the Russian Federation. Aptito is a mobile Apple® iOS-based hospitality POS and business management platform that improves restaurants' efficiency, lowers POS deployment costs and enhances customer experience.

Aptito hospitality POS and business management platform is now available in Russia (http://www.aptito.ru) and allows restaurants to focus on their business and improve user experience by providing a complete package of tools to increase sales, productivity, customer service, customer experience and retention. Aptito combines traditional POS functionality with digital menus, mobile ordering, mobile payment acceptance, social media and a wide range of business management features such as table management, menu management, inventory management, reservation, scheduling and payroll management.

Aptito allows restaurant staff to place orders directly from their mobile devices and accept payments table side, which generates faster service, quicker table turnover and less wait time for customers. The visual POS concept is designed to increase order size and streamline productivity.

According to a joint study by the Association of computer equipment companies (APKIT) and McKinsey, growth of information technologies of the Russian market is expected to be 25% per year -- up to $154 billion in 2020.

Aptito has partnered with ATOL Group, one of the fastest-growing point-of-sale equipment manufacturers and distributors in Russia to integrate fiscal printers and provide fiscalization in accordance with Russian Federation fiscal law. 

"We are entering an underserved point of sale software market, that has tremendous opportunity," commented Oleg Firer, CEO of Net Element. "Approximately 39% of our revenues came from outside of the United States, up from 9% a year ago, and this trend continues to grow."

"Russia is a large and rapidly growing market, with significant opportunities in the POS software segment," commented Evgeniya Chernomorskaya, Lead Project Manager for Aptito Russia. "The Aptito team is eager to maximize the opportunities this market represents, and collaboration with major point of sale manufacturers and distributors is one of most effective ways to achieve this goal."

Key Benefits and Features

  • Improved menu management: Clients will order an average 15-20% more with enticing, high resolution digital menu images.
  • Inventory management: Allows management of inventory quickly and accurately.
  • Reduced labor costs: Servers can serve rather than take orders and process payments, which results in nearly twice as many tables served.
  • Offline mode: The need for uptime in a hospitality environment is paramount and as such our Aptito hospitality POS local server allows our merchants to remain online, even if the Internet connection to the cloud is lost. Our local server solution is automatically synchronized with the cloud, providing 99.99% uptime.
  • 24/7 management: We offer the ability to manage your restaurant remotely from anywhere in the world with secure web access.

Pricing and Availability
Aptito hospitality POS and business management platform is currently available to restaurant owners for an introductory price that is compelling to merchants. The complete system is available for purchase now and with hardware bundles at a starting price of $49 per month.

About ATOL Group
ATOL Group ("ATOL") holds a leading position in point of sale manufacturing and distribution in the Russian market. Since 2001, ATOL engaged in the development, production and distribution of hardware and software for the automation of trade, catering and services. The professionalism of the company confirmed by certificates of the world's leading brands operating in this industry: Microsoft, Honeywell, Zebra, Posiflex, CASIO, Argox, Bluebird, Opticon. Joint projects with worldwide known manufactures let ATOL Group create products in-demand at the market, such as ForPOSt, EasyPOS, FPrint and more. For more information, visit www.atol-global.com.

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 US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. 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 such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.

Forward-Looking Statements
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 "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. These forward-looking statements include, without limitation, whether the introduction of Aptito's POS and business management platform to the Russian Federation will be successful or will positively impact the Company's business, whether Net Element can secure any additional financing and if such additional financing will be adequate to meet the Company's objectives. 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: (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 and the subsequently filed 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.