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NetCents Technology Inc
Symbol NC
Shares Issued 54,107,502
Close 2019-10-23 C$ 0.44
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NetCents brags about increase in new merchant sign-ups

2019-10-24 10:15 ET - News Release

Mr. Clayton Moore reports


NetCents Technology Inc. continues to observe growth in both overall external market demand for cryptocurrency payment services and internal key company metrics, notably merchant adoption of cryptocurrency payments.

With recent activity bringing cryptocurrency back to the forefront of conversations, the company has seen a corresponding spike in merchant demand to enable it to capitalize on the growing desire by consumers to be able to spend their cryptocurrency.

The company has achieved a 72-per-cent average monthly growth in new merchant sign-ups every month since April, 2019. This increase in company merchant onboarding in conjunction with overall consumer and merchant demand was reflected in the company's third quarter financial statements released in September, 2019, where the company achieved the following growth:

  • Revenue increased by 399 per cent over Q2;
  • Merchant processing revenue increased by 498 per cent over Q2;
  • Processing volume increased by 360 per cent over Q2;
  • Transactions increased by 296 per cent over Q2;
  • Merchant sign-ups increased by 121 per cent over Q2.

"With traditional payment companies' new rules, increasing focus on medium and enterprise businesses, and zero tolerance for risk, payments are becoming increasingly difficult and expensive for merchants, forcing them to seek out alternative payment methods," commented Clayton Moore, founder and chief executive officer of NetCents Technology. "Our continued increase in merchant sign-ups and processing volume shows that merchant and consumer demand is here. With the continuous flow of merchants actively seeking alternative payment choices, it demonstrates that there is a real need and want for the services we provide."

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 cryptocurrency market.

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