Net Element Taps Industry Veteran Eric Kirk as Aptito Executive Vice President

MIAMI, March 5, 2015 /PRNewswire/ -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States, today names Eric Kirk as the executive vice president of Aptito, LLC, an all-in-one digital POS solution. In this role, Kirk will be responsible for enhancing Aptito's client engagement and operations in addition to leading Aptito's national sales team.

Kirk joins Aptito from RetailCloud where he served as the vice president of marketing and sales and managed the independent sales organization and reseller channel. Kirk was instrumental in conceptualization and execution of RetailCloud's POS system and the development of a SaaS model pricing structure that has become an industry standard. Prior to this, Kirk held various executive positions with PayNet Transactions where he managed direct sales of POS solutions, payment processing, and onsite-managed services for sport franchise merchandising operations. In his operations role at PayNet, Kirk directed onsite support staff and inventory management team for major events, including the US Open Tennis tournaments, NFL Superbowl, and NHL and NBA all-star games.

Throughout his career, Kirk has established a track record of technological innovation, business savvy and sound management. Kirk brings this business acumen and industry experience to strengthen and grow the Aptito platform and product offering. 

"In recent months Aptito has achieved considerable advances and generated significant interest," states Net Element Chief Executive Officer Oleg Firer. "Eric's proven leadership and professional versatility will greatly strengthen Aptito's next stage of propulsion and success. We're pleased to welcome such an experienced and visionary professional to the team."

"Net Element is rapidly solidifying Aptito as a powerful and innovative industry standard by dramatically improving the way restaurants conduct the most vital components of their operations," states Kirk. "I'm honored to be a part of Aptito's progression and market penetration.   I look forward to being part of this incredible company and its future success."    

About Net Element (NASDAQ: NETE)      
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; 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.

About Aptito, LLC
Aptito, LLC ("Aptito"), a subsidiary of Net Element's TOT Group, Inc., is a new generation, customer-engaged, patent-pending payments platform specializing in mobile Point of Sale ("mPOS"), mobile commerce application, and self-ordering Apple® iPad®-based kiosk. Utilizing its disruptive, cloud-based payments platform, Aptito provides merchants a feature-rich, innovative and socially driven, all-in-one digital software solution for the food-service industry. Aptito's Restaurant mPOS solution provides restaurants with tools to increase sales, productivity, and customer loyalty. Aptito's suite of integrated tools enables inventory management, complete payroll, staff scheduling, patron reservations and digital menus. More capable and less costly than a traditional restaurant POS systems, Aptito doesn't have the steep learning curve associated with typical POS products. Aptito was named a silver winner in the Most Innovative Product of the Year – SMB category in Best in Biz Awards for 2014.  More information is available at www.aptito.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 appointment of Kirk will have a positive impact on the business of Aptito, 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

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