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NetCents Technology Inc
Symbol NC
Shares Issued 69,490,787
Close 2020-08-05 C$ 1.34
Recent Sedar Documents

NetCents sees over $4M in July processing volume

2020-08-05 06:14 ET - News Release

Mr. Clayton Moore reports

NETCENTS TECHNOLOGY REPORTS RECORD TRANSACTION VOLUME GROWTH IN B-TO-B TRANSACTIONS LIFTS AVERAGE TRANSACTION SIZE

NetCents Technology Inc. exceeded $4-million in monthly processing volume in July, 2020, which represents 100-per-cent growth over the previously reported February, 2020, numbers.

The growth in the monthly transaction volume was partly caused by NetCents continuing to grow its business-to-business (B2B) transaction flow. The company is mining a new market segment by supporting larger transactions that have the effect of significantly lifting the average transaction size.

"This growth in B2B is a clear indicator of a maturing business -- using crypto for small consumer purchases has a novelty to it, for sure, but now we are seeing large businesses embrace crypto as part of their process, it is a very revealing trend," stated Clayton Moore, founder and chief executive officer of NetCents Technology. "We are confident that this trend will continue, and that businesses will adopt cryptopayments permanently as part of their workflow. We can save businesses a lot of money by facilitating cross-border and cross-currency transactions. We are finding that once a customer is on-boarded, they find that their hesitation around working with cryptocurrencies was completely unfounded," he concluded.

The NetCents interface is designed to look and feel like all traditional merchant payment platforms, therefore merchants are not intimidated by any complexity of the cryptocurrency environment. This means that once on-boarded, merchants are likely to embrace cryptocurrency payments, as well as employ one of the marketing programs that NetCents provides its merchants.

The growth in transaction volume is also being affected by the growth in cryptowallets worldwide; as of June, 2020, there are over 50 million wallets that have been created. This milestone represents a 25-per-cent growth on a year-to-year basis. The company believes that for the first time many of these wallets are being created for transactional purposes as opposed to purely for investment or trading. Management also believes that the current bitcoin rally will also generate additional interest in cryptocurrency, as a rising bitcoin market has historically accelerated the growth of cryptowallets. Cryptocurrencies as an asset class represent a value of $344-billion. The majority of this value is attributable to bitcoin, which has appreciated 23 per cent over the last month.

About NetCents Technology Inc.

NetCents 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 cryptomarket.

We seek Safe Harbor.

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