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Net Element releases Pay-Travel update

Tuesday, July 28, 2015 — 12:36:52 (EDT)

Miami, July 28, 2015 - Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company") today announced the release by PayOnline of an updated version of Pay-Travel. The new version of Pay-Travel will provide an enhanced industry solution for secure, automated payment processing, clearing and reconciliation for the travel and tourism industry. The solution is fully integrated with leading Global Distribution Systems ("GDS"), which includes Amadeus and Sabre and available for online and mobile application payments acceptance.

PayOnline introduced Pay-Travel platform to the travel industry in 2009 and is focused on providing online payment acceptance services to travel agencies, ticket offices and airlines. Today, Pay-Travel is used to accept payments online and in mobile applications by major ticket offices and airlines in Russia, including: Ural Airlines, Max-Avia, Altair, Sinbad, Pososhok.ru, CheapBilet and Biletberry.

Pay-Travel integrates the existing financial instruments already used by the travel industry into a best-in-class, multi-channel, GDS-independent platform, which allows users to effectively manage all aspects of their payment needs in a flexible, easy-to-use solution.

About 60% of the world's 1 billion tickets are sold through GDS, with Amadeus being the largest player in the GDS space with 41% market share, Sabre is second with 28%.

By using proprietary "AVIA2SPLIT" technology in Pay-Travel, airline ticket sales are processed directly with GDS, avoiding acquiring bank fees and travel broker commissions processed by acquiring banks. By splitting acquiring flow Pay-Travel's solution helps travel agencies and airlines to significantly reduce acquiring costs.

Most recent version of Pay-Travel includes:

• Extended hold authorization period
• Increased convenience of payment management for representatives of ticket offices
• Maximum level of security of payments utilizing 3-D Secure protocol

"In a rapidly evolving travel industry, travel players are continually looking for ways to streamline and improve their business," said Marat Abasaliev, chief executive officer of PayOnline. "We believe Pay-Travel can help the travel industry significantly increase efficiencies and reduce reliance on manual processes. All this can be achieved on the cost effective payment platform. Pay-Travel has the flexibility to handle any type of payment, the highest level of security, and the ability to integrate with existing front and back office products."

About Net Element Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service platform for small to medium enterprise ("SME") in the US, Russian Federation and other international markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. Internationally, Net Element's strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, India and Latin America. It maintains offices in Miami, FL and in Russia. Further information is available at www.netelement.com .

About PayOnline PayOnline provides flexible high-tech payment solutions to companies doing business on the Internet. They have wide experience in integration and customization of payment solutions for websites and mobile apps. They are able to arrange payments on the website of any commercial organization that increases convenience with highest possible level of successful transactions. Thousands of companies in CIS, Europe and Asia use PayOnline to accept payments online. PayOnline offices are located in Russia and in the Republic of Cyprus. For more information, please visit: www.payonline.ru/en or www.payonline.ru .

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Source: Company press release.