05:28:22 EDT Tue 07 Jul 2020
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NetCents Technology Inc
Symbol NC
Shares Issued 47,854,748
Close 2019-06-06 C$ 0.57
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NetCents hires three business development team members

2019-06-06 11:40 ET - News Release

Mr. Clayton Moore reports


NetCents Technology Inc. has been diligently working toward laying the foundation for its strategy to create long-term growth and revenue for the company. The company would now like to provide an update regarding these strategies.

Recently, the company launched its partnership program. This program has been successful for the company and, to date, has resulted in the company entering into over 25 partnerships. Since signing these contracts, the NetCents team has been working with its partners to develop marketing and promotional materials, as well as to educate the partners' merchants on the benefits of accepting cryptocurrency as a payment method.

The company has achieved multiple key milestones for the partnership program and is now signing new merchants, processing payments, generating revenue and processing partner referral payouts. To continue activating its partners, the company recently attended ETA in Las Vegas with PAX and the National Restaurant Association Show in Chicago with SoftPoint. These conferences were successful in both further solidifying these existing relationships as well as generating new partner and merchant leads for the company.

Recently, the company has conducted a small trial of its merchant direct sales strategy. The focus of this strategy is on enterprise-level merchants that are looking for a cost-effective alternative to credit card payments as well as merchants that already accept cryptocurrency. This target audience was selected to enable the company to generate processing volume and revenues from these merchants quickly and with as little friction as possible.

The company has had early success with this strategy, signing Surge365 and InCruises with their 135,000-member base. With Surge365 and InCruises, the company's recently announced 600 new merchants and 150 direct merchant sign-ups in the past couple weeks, NetCents has proven that its identified markets and direct-to-merchant strategy works.

The company has already begun seeing the effects of this strategy take hold. On May 9, 2019, the company announced that it had increased its processing volumes in the last three consecutive months. Since February, NetCents has realized an average month-over-month increase of 41 per cent in processing volume each month, and the company projected to increase processing volume by 42 per cent in May over April. The company actually realized a month-over-month growth rate for May of 78.9 per cent, nearly doubling the projected growth rate.

In order to continue this increase in monthly processing volume growth to drive company revenue and fully launch its merchant direct sales strategy, the company has recently hired three new team members, Danielle Blackwell, Guillaume (Will) Brochu and Joshua Hebert, to join the company's business development team. In the first seven business days that Mr. Brochu has been with the company, he signed a new merchant each day, further proving the efficacy of the company's merchant direct strategy.

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.

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