MIAMI, FL--(Marketwired - Oct 16, 2017) - Net Element, Inc. (
Unified Payments is incorporating Same-Day ACH into its already robust line of payment processing tools in order to meet the growing demand for this form of payment in North America. According to NACHA -- The Electronic Payments Association®, ACH network volume accounted for over 25 billion payments and $43 trillion in transfers in 2016.
Convenient eCheck processing solution Unified Payments' ACH processing is built into its payment gateway and seamlessly integrates with every major shopping cart for simple, secure eCheck acceptance. An eCheck plays a similar role as its paper counterpart, funds are withdrawn digitally from a buyer's checking account and transferred over the ACH Network. Once funds clear, they are deposited into the merchant's bank account.
Ideal alternative payment method Although credit card usage is steadily rising, many Americans still do not possess one. Electronic checks provide business owners the flexibility of receiving electronic payments, regardless of whether or not their clients own a credit card. And unlike paper checks, electronic checking allows merchants to save time and money by foregoing trips to the bank and through faster clearing of payments. Another benefit of transferring funds through the ACH network is for large volume purchases; eChecks can bypass limits imposed by card brands for credit card transactions.
"Adding ACH processing to our suite of products offers businesses greater control over how they accept payments," commented Vlad Sadovskiy, president of Unified Payments. "Tapping into the ACH network creates a valuable alternative for many merchants who need eCheck processing, along with taking credit cards. Additionally, NACHA rules have evolved and same day ACH is offered by Unified Payments. We continue to offer the fastest funds availability to all of our merchants regardless of the payment methods they choose to utilize."
About Net Element
Net Element, Inc. (
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, but are not limited to whether the introduction of ACH payment processing solutions will positively impact the Company. Additional examples of such risks and uncertainties are : (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. media@netelement.com +1 (786) 923-0502
