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NetCents Technology Inc
Symbol NC
Shares Issued 54,107,502
Close 2019-11-13 C$ 0.37
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NetCents signs 50th partnership deal

2019-11-13 11:05 ET - News Release

Mr. Clayton Moore reports

NETCENTS TECHNOLOGY SIGNS ITS 50TH PARTNERSHIP AGREEMENT

NetCents Technology Inc. has signed its 50th partnership agreement with Agape Global Services Inc.

Agape provides premium credit card processing services providing growing businesses credit card processing, e-commerce and other electronic processing solutions for continuity of revenue and payment flows.

Over the last 24 months, the company's focus has been twofold. Firstly, it was to design, develop and build out the required technical infrastructure necessary to allow crypto-based payments to become mainstream. This resulted in the release of over 12 different significant upgrades and improvements to the NetCents platform: instant settlements, multiple terminal, point of sale and e-commerce integrations, asset management platform, deployment of the software-as-a-service based platform, crypto-banking stack, and zero confirmation to name but a few. The stable of products the company now offers is varied and includes file management, authorization services and settlement services for multiple cryptocurrency formats.

Secondly, the company looked to embed itself into the traditional payment space by making the processing technology easier and more cost-effective for merchants to implement and use while simultaneously making it simpler for consumers to use. NetCents went out and signed major manufacturers of the industry-leading POS devices (PAX, Clover, Ingenico, ExaDigm, Poynt, AMP, Verifone) so as to embed the NetCents software into their devices. This has provided NetCents with the potential to reach over 40 million active terminals worldwide.

Clayton Moore, chief executive officer of NetCents Technology, said: "The 50th agreement means that our partners who are a combination of independent sales organizations or ISOs (a third party payment processing company that handles merchant accounts), processors (handle merchant transactions for merchant acquiring banks) and gateways (facilitates payment transaction between payment portal and processor) combine to give NetCents a reach to an estimated seven million merchants and who collectively process well over a billion dollars annually in the traditional processing space. That is an accomplishment."

He further went on to say: "The on-boarding of merchants was initially slower than anticipated but, as the company has publicly said, the uptake in both merchant on-boarding and processing volume has been increasing steadily over the last number of months. The company feels very strongly that by continuing to follow this path, the company will continue to become the underlying technology for cryptocurrency payments akin to the automated clearing house (ACH), an electronic funds-transfer system that facilitates bank-to-bank payments, credit and debit transactions in North America. Last year the ACH network processed $23-billion (U.S.) in payments. The value of ACH payments last year was $51.2-trillion (U.S.)."

About NetCents Technology Inc.

NetCents is a next-generation on-line payment processing platform, offering consumers and merchants on-line services for managing electronic payments. The company is focused on capturing the migration from cash to digital currency by utilizing innovative blockchain technology to provide payment solutions that are simple to use, secure and worry free.

We seek Safe Harbor.

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