Thursday, October 27, 2016

CEO of Net Element, Inc. (NETE) Subsidiary PayOnline Selected to Lead Futuristic Panel at Russian Interactive Week

Before the opening bell, Net Element, Inc. (NASDAQ: NETE) announced that Marat Abasaliev, chief executive officer of the company’s wholly-owned PayOnline subsidiary, will lead the futuristic section of the upcoming Russian Interactive Week (“RIW”) 2016. Organized by RUNET Group and held at Moscow’s Expo Center, RIW is the biggest annual event centered on the Russian Internet and offers a combination of a multi-threaded conference, media communication forum and a variety of extracurricular activities. This year’s event, which will be held from November 1-3, 2016, is expected to draw attendance in excess of 20,000 visitors.

Abasaliev’s highly-anticipated session, titled ‘How we will pay in 2020: projections and fantasies’, is scheduled to open the second day of RIW and will focus on forecast changes in Russian Internet payments that are set to take place over the next five years. Abasaliev will be joined by representatives from other market leaders, including MasterCard (NYSE: MA), MTS, VTB24 Bank and Mail Group, who are expected to share their unique views on the rapid development and evolution of the overall payments ecosystem.

In addition to offering his unique insight to conference visitors, Abasaliev’s assessment of the near-term future of the payments ecosystem in Russia and key issues related to electronic and physical payments in the region will also be evaluated by the event’s organizers. According to this morning’s update, the most visionary presenter will be honored at RIW 2020.

“Payment service providers reside at the intersection of information technology and electronic payments directly interacting with payment systems, banks, IT companies and mobile operators,” Abasaliev stated in this morning’s news release. “Taking stock of the payments landscape, we noticed that based on their individual challenges, each of our partners have their own vision of the ‘future payments’ of Russia; thus was born the idea of bringing together key industry players in the payment sector and try to create a shared vision of our future.”

In recent weeks, PayOnline has made significant progress toward expanding its presence in both the Russian payments market and those of the Commonwealth of Independent States. Perhaps the largest headline from this period, PayOnline entered into an agreement with Dunkin’ Donuts (NASDAQ: DNKN) to enable payment acceptance for online ordering and delivery services at the chain’s locations throughout the Russian market. Earlier this month, PayOnline built on this progress through its entry into a new agreement with ExLine, a leading provider of courier services in the Republic of Kazakhstan. Through this deal, PayOnline is helping ExLine enable online payment acceptance services for more than 50,000 customers across its operating region.

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