TOT Group Announces High Speed Entry into Latin American Market by Sponsoring Pietro Fittipaldi Promoting Their Speed of Payments with Grandson of the Legendary Emerson Fittipaldi
MIAMI & MOSCOW--(BUSINESS WIRE)-- Net Element International (NASDAQ: NETE), a technology-driven group specializing in electronic commerce and mobile payment processing is pleased to announce today that their TOT Group (TOT) subsidiary will be expanding into the Latin American market. Teaming with several contributors including Embratel Claro subsidiaries of American Movil, Telmex (the dominant fixed-line and cellular carrier in Mexico), and others, TOT (TSS) is co-sponsoring Formula 4 driver Pietro Fittipaldi to create consumer awareness and communicate the speed of their payments services. Pietro is the grandson of the legendary Formula 1 driver Emerson Fittipaldi and like his grandfather is making history as one of the youngest and most accomplished racers including his 2011 NASCAR Whelen All-American Series Limited Late Model championship at Hickory Motor Speedway.
TOT is a multinational mobile payments and transaction processing holding company which provides a range of flexible online and offline payment solutions. Clients include wireless carriers, content providers and merchants. TOT delivers comprehensive, end-to-end payment solutions to enable merchants to reliably accept cashless transactions at the point of sale (POS). From processing of electronic payments at the POS to processing mobile commerce transactions to managing merchant terminals and providing information management services, TOT offers innovative solutions which allow its merchants to streamline their payments resources.
This entry into the burgeoning Latin American market has been part of Net Elements strategic plan since day one, said Kenges Rakishev, a major shareholder with Net Element (NETE) and one of the top 10 private investors of 2012. Gaining access via our co-sponsorship to leaders in the communications, technology, retailing, and finance enterprises offers TOT a terrific opportunity to build relationships and gain market share.
Born in Miami, Pietro is the grandson of the legendary Emerson Fittipaldi who twice won the Formula One World Championship (1972 & 74) - holding the title of the youngest ever winner until very recently - in addition to being a double victor of the Indianapolis 500 and 1989 CART Champion. Like his grandfather, Pietro has enjoyed success from a very early age, beginning karting at the age of just seven in the USA and quickly working his way up through the ranks. In 2010 he made his stock car debut before making history the following year by becoming the first Latin American driver to be crowned the NASCAR champion in the Limited Late Model category - aged just 15. Last year he contested the entire season of the NASCAR Whelen All-American Series but is now looking forward to making his slicks and wings debut on UK soil and following in his grandfathers footsteps on the path to F1 greatness. To date he has enjoyed a total of 27 wins and 24 poles throughout his racing career in go-karts and NASCAR. Pietro was approached by Carlos Slim to join his pilot development project. Current alumni of the project include Mexican F1 drivers Sergio Perez of McClaren and Esteban Gutierrez of Sauber.
Pietro has accomplished so much, so soon in his career and we are deservedly proud of his dedication and passion for racing, said Emerson Fittipaldi. He was successful as a kart racer, made the transition to NASCAR easily and now enters the challenging world of Formula 4 competition.
About Net Element International
Net Element International is a global technology-driven group specializing in electronic commerce, mobile payments and transactional services. The company owns and operates a global mobile payments and transaction processing provider, TOT Group, as well as several popular content monetization verticals. Together with its subsidiaries, Net Element International enables ecommerce and content-management companies to monetize their assets in ecommerce and 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. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at www.netelement.com.
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 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 TOT Groups co-sponsorship of Pietro Fittipaldi will help TOT Group expand its business operations into the Latin American market; the extent that TOT Groups co-sponsorship of Pietro Fittipaldi helps create consumer awareness of its payments services; whether TOT Groups co-sponsorship of Pietro Fittipaldi provides TOT Group access to leaders in communications, technology, retailing and/or finance enterprises in Latin American; the extent that TOT Groups co-sponsorship of Pietro Fittipaldi helps provide TOT Group with opportunities to build relationships in Latin America; whether TOT Groups co-sponsorship of Pietro Fittipaldi helps TOT Group gain market share; and whether Net Element International or its business continues to grow. 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 International and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element Internationals ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element Internationals ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element Internationals ability to successfully expand in existing markets and enter new markets; (iv) Net Element Internationals 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 Internationals business; (viii) changes in government licensing and regulation that may adversely affect Net Element Internationals business; (ix) the risk that changes in consumer behavior could adversely affect Net Element Internationals business; (x) Net Element Internationals ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. 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 International with the Securities and Exchange Commission. Net Element International anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element International 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.
Dan Bruck, 305-507-8808
Source: Net ElementCopyright Business Wire 2013