Net Element Subsidiary Improves Mobile POS Restaurant Software with Additional Features

MIAMI, Jan. 28, 2015 /PRNewswire/ -- Net Element Inc. (NASDAQ: NETE) subsidiary Aptito LLC today unveils version 2.3 of its cloud-based mobile point-of-sale ("mPOS") platform. Aptito's all-in-one restaurant and bar POS and business management software gives restaurants the tools to reduce payroll costs, improve efficiency, and increase customer satisfaction. The new mPOS version 2.3 is optimized for iOS 8.1.2 and is compatible with any iPhone 4, 4s, 5, 5c, 5s, 6, 6 Plus, as well as the iPod Touch. 

"We are continuously advancing our technology to enhance product functionality for the benefit of our customers, and today we're pleased to introduce to the marketplace our latest innovation, Aptito mPOS version 2.3," says Oleg Firer, chief executive officer of Net Element. "One of the primary features of the new mPOS platform is its extended compatibility and significant overall redesign. Together, these updates and improvements result in numerous innovative advantages."

Maintaining the feature-rich functionality of the previous mPOS platform, mPOS version 2.3 is equipped with several innovative improvements, including:

1. Apple iOS 8.1.2, iPhone 6 & 6 Plus optimization;
2. User interface redesign to provide greater simplicity in operation;
3. Local server integration to support offline mode and internet downtime;
4. Pay at the table functionality using latest secure, card reader technology;
5. Cardholder signature screen on checkout with signature capture and storage.

Software licensing revenue for the platform increased at an average monthly rate of 8.2% when Net Element launched Aptito 2.0 in November 2014. The Company anticipates continued momentum from the release of mPOS version 2.3. 

"We are more than pleased with the initial success of Aptito 2.0 and the traction the platform is seeing in the market," says Firer. "The immediate increase in revenues validates our belief and provides tangible evidence of the growing interest in the mPOS platform."

Aptito's cloud-based software allows restaurants to revolutionize their customers' dining experience. The Aptito mPOS application is free, so restaurant owners can test the software on their own mobile devices alongside our iPad POS system at no risk.

Key features of the mobile POS solution include:

All-Inclusive Functionality. The all-in-one platform allows staff to take orders, send them to the kitchen, process payments and more all from one device. The multi-functionality saves time, which can reduce payroll costs and improve customer satisfaction.

Tableside Ordering and Payment. The new Aptito allows customers to place their own orders right at the table with full-color, digital menus, as well as to make their own payments. This feature is ideal for helping to reduce wait times and to encourage additional orders.

Small and Mobile System. Aptito's mobile platform can be used on an iPhone or iPod Touch, which takes up much less space than a traditional POS. The platform clears up counter space and eliminates long lines in front of cash registers while enabling waitstaff to serve customers wherever they are located in the restaurant.

Improved Training and Payroll. The new Aptito system is simple to use with little training required.  New employees can learn the system within minutes, which will help them quickly feel confident and reduce the restaurant's training costs. The system also includes features like a time clock, allowing employees to punch in and out exactly when their shift begins and ends, thereby reducing wastes in payroll.

Whether customers are ordering their own food at their table or servers are sending orders to the kitchen at the touch of a button, the new Aptito mPOS accelerates service to customers and provides a more positive dining experience. Digital menus with beautiful color photographs will encourage more ordering and increase the amount of each transaction.

Additional features include smart inventory management, digital menu syncing, a real-time reservation system, automated delivery and takeout, payroll scheduling and more. The system is also able to connect to a local server and work in an offline mode, so businesses never have to worry about losing a sale because of a problem with Internet connection.

About Net Element

Net Element (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 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. More 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 Net Element or its business continues to grow, whether the release of the new version of the Aptito product will have a positive effect on the Company's business and 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.

SOURCE Net Element, Inc.

Related Links

http://www.netelement.com