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NetCents Technology Inc
Symbol C : NC
Shares Issued 47,854,748
Close 2019-09-17 C$ 0.56
Recent Sedar Documents

NetCents signs 40th partnership agreement

2019-09-18 09:27 ET - News Release

Mr. Clayton Moore reports

NETCENTS POWERS PURCHASE POTENTIAL WITH 40TH PARTNER AGREEMENT SIGNED

Accelerating its pace for market adoption and integration, NetCents Technology Inc. has signed its 40th partnership agreement.

Following on the heels of NetCents' 20th partner announcement in February, NetCents is pleased to announce the signing of its 40th partnership agreement. A doubling of its partners in such a short period of time reflects the company's aggressive trajectory to accelerate partner growth and keep pace with merchant adoption of cryptocurrency. This growth demonstrates the increased willingness of merchants to offer their customer bases alternatives to traditional payment methods by incorporating the NetCents cryptocurrency solution on-line, in store and integrated into their POS systems.

"This accelerated partner growth continues to validate our business model and the future of the company," stated Clayton Moore, founder and chief executive officer of NetCents Technology. "Whereas in 2018 and early 2019, we needed to actively sell our partners on the advantages of NetCents, we are now having major players in the payments space actively seek us out to allow them to offer cryptocurrency by embedding our merchant gateway within their technology, providing merchants a seamless experience and on-boarding process for cryptocurrency payments."

Through these partners including merchant gateways, payment processors, ISOs, terminal manufacturers and ISVs, the company has embedded its cryptocurrency merchant gateway technology within all major traditional payment sectors. This integration provides the company with the key competitive market advantage of being the default cryptocurrency payment provider for merchants.

The company's partners allow NetCents to access millions of merchants, hundreds of new partners, millions of users and a sales force of thousands of agents who actively sell the NetCents cryptocurrency merchant gateway to their existing merchant base daily.

"We are already seeing the early success of our partner strategy come to fruition," added Mr. Moore. "The company has experienced an average 95-per-cent monthly increase in merchant sign-ups since May in addition to an average of 39-per-cent increase in processing volume every month since February."

To augment the company's partnership program, the company has begun its merchant acquisition plan (MAP). The company has brought in industry-leading veterans to develop, launch and manage MAP. The goal of MAP is to add 15 enterprise merchants that process over $20-million (U.S.) per year in sales with a monthly baseline of $100,000 cryptocurrency transactions.

The team advancing MAP analyzes tens of thousands of businesses across North America, Europe and Australia ranking them against a scoring system, personalizing their outreach message by business or vertical, and launching an educational content program on their respective market trends and NetCents' products and programs.

While the program launched less than a week ago, 287 merchants who fit the selection criteria have been outreached to with an initial 26-per-cent engagement rate. The campaign will continue to run through March, 2020, with an additional 100 to 300 merchants added to the outreach queue weekly.

By continuing to drive mainstream interest and adoption via a multipronged approach, while increasing market and merchant share, cryptocurrency as a viable payment option is within reach.

About NetCents Technology Inc.

NetCents Technology, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a money services business (MSB) with FINTRAC.

We seek Safe Harbor.

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