Net Element Provides Update on Performance of its International Transaction Solutions Segment


International Transaction Solutions segment shows significant improvement going into the second half of 2019: Revenues for the third quarter are projected to increase by 40% over the second quarter

MIAMI, Aug. 27, 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 its International Transaction Solutions segment has shown material improvement going into the second half of 2019.  

Total transaction processing volume is projected to exceed $130 million and revenues are projected to increase by approximately 40% over the second quarter. The dollar volume of transactions processed has shown continued improvement due to the boarding of a large merchant account in the beginning of the year. The integration was completed during the second quarter of this year.  In June, 2019, the dollar volume processed increased 7% from the previous month. This trend has improved significantly in the month of July, 2019, as the dollar volume processed increased 46% from the previous month.  Third quarter revenue from this segment is projected to increase 40% over the second quarter of 2019. 

“Our International Transaction Solutions segment shows continued improvement over the last quarter. We believe that this trend will continue and improve the overall performance and strategic vision of this segment as we progress through the second half of the year,” commented Oleg Firer, CEO of Net Element.  

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 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.

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. Examples of such risks and uncertainties include whether revenues for the third quarter will in fact increase by 40% over the second quarter and whether improvement trends of the dollar volume of transactions processed by our International segment will continue.  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.

Contact:
Net Element, Inc.
Tel. +1 (786) 923-0502
Media@NetElement.com
www.netelement.com