Net Element Wins Silver in Best in Biz Awards 2014

MIAMI, Feb. 18, 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, announces that its Aptito product was named a silver winner in the Most Innovative Product of the Year – SMB category in Best in Biz Awards, the only independent business awards program judged by members of the press and industry analysts.

Aptito's all-in-one restaurant and bar point-of-sale (POS) and business management software provides restaurants with a variety of tools to reduce payroll costs, improve efficiency, and increase customer satisfaction. The cloud-based, fully integrated solution is based on Apple iOS devices and includes POS and table management, kiosk, digital menu, mobile POS, online ordering modules and integrated payment card processing. Restaurant owners and managers can access the system from any location using any web browser and review comprehensive reports, adjust menus, pricing, set up happy hours, manage inventory, personnel, wages and tips allocation. Aptito's backend reports are combined with Net Element's Unified Payments Insights analytics solutions to help owners and managers make educated decisions on how to improve their sales, attract customers during low occupancy hours, and monitor restaurant reputation and social media reviews.

This year's Best in Biz Awards program featured a large and distinguished judging panel comprised of members of the media who reviewed and scored the hundreds of award nominations. More than 550 award nominations were received this year in a variety of company, executive, team, and product-focused categories. Nominations were fielded from public and private companies of all sizes and from virtually every major industry and region in the United States and Canada.

"The fourth annual Best in Biz Awards' North American program was its most competitive yet," says Net Element CEO Oleg Firer. "We are honored that the innovation and functionality of Apito warranted such high recognition among hundreds of other nominees. Bringing home the silver award is a token not only of where Aptito stands today, but of the incredible potential that lies ahead."

Best in Biz Awards 2014 honors were presented in 60 categories, including Company of the Year, Fastest-Growing Company of the Year, Most Innovative Company of the Year, Best Place to Work, Technology Department of the Year, Executive of the Year, Most Innovative Product of the Year, Best New Product of the Year, PR Campaign of the Year and Website of the Year.

Winners were determined based on scoring from an independent panel of 53 judges from highly recognized newspapers, business, consumer and technology publications, radio outlets, and analyst firms. In addition to returning judges, this year's 53-person judging panel included contributors to AdWeek, American Banker, Android Central, Atlanta Tribune, Boston.com, Buffalo News, Business News Daily, Chip Design Magazine, Computerworld, Connecting Women Radio, Consumer Affairs, Crain's New York Business, CRN, Detroit Free Press, Digital Trends, ECT News Network, Entrepreneur, eWeek Channel Insider, Fierce Online Video, IDB Ventures, IEEE Institute, Inc. Magazine, InfoRisk Today, Information Week, Journal Times, King Features Syndicate, L.A. Biz, Lab Reviews, Law Technology News, Marketing Profs, MediaPost, Miami Herald, Motley Fool, New York Observer, NorthBay Biz, PC Magazine, peHUB, Phoenix Business Journal, Quad-City Times, San Jose Mercury News, Silicon Valley Business Journal, Small Business Digest, Tech Cocktail, Tech-Gaming, TheDeal.com, Upstart Business Journal, Venture Capital Journal, Wired, Xconomy and ZDNet.

For a full list of gold, silver and bronze winners in Best in Biz Awards 2014, visit: http://www.bestinbizawards.com/2014-winners.

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, 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.

About Best in Biz Awards
Best in Biz Awards recognizes top companies, teams, executives and products for their business success as judged by established members of the press and industry analysts. Best in Biz Awards honors are conferred in two separate programs annually: North America, and International. Entries will begin to be accepted in the Best in Biz Awards 2015 International program in January 2015. Any organization worldwide may participate in the International program in any of the more than 60 company, department or team, executive and product categories. For more information about the entry process and categories in the International program, please visit: http://intl.bestinbizawards.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 award received for the Aptito product will have a positive effect on 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.

SOURCE Net Element, Inc.

Related Links

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