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NetCents Technology Inc
Symbol NC
Shares Issued 80,549,396
Close 2020-10-22 C$ 0.98
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NetCents reaches $27M in transactions in 2020

2020-10-22 07:40 ET - News Release

Mr. Clayton Moore reports


NetCents Technology Inc. has exceeded $27-million in transactions within the NetCents platform in 2020.

"We are pleased with our growth in 2020, with each month exceeding our post-COVID-19 expectations and results improving significantly throughout the year," stated Clayton Moore, founder and chief executive officer of NetCents Technology. "We are now seeing continued results of the marketing efforts and strategies implemented over the past year, and our current efforts are laying the groundwork for the 2021 growth."

Much of the growth the company has experienced was due to the continued focus on the company's B2B (business to business) merchant base globally. Over 70 per cent of approved new merchants added to the platform are in the B2B category with an average transaction value of over $25,000. In September, one of the company's new B2B merchants processed over $1-million in transactions in its first month processing with NetCents.

Based on the company's research:

  • The global B2B market is worth six times more than B2C (business to consumer) market. In 2019, B2B market was valued at $12.9-trillion in transactions.
  • Recent research by Forrester shows that B2B e-commerce will reach $1.8-trillion in the United States and account for 17 per cent of all B2B sales by 2023.
  • B2B digital leaders drive five times more revenue growth than their peers.
  • In a survey of B2B decision makers, over 80 per cent of respondents said they would prefer to use self-service tools for reordering, rather than talking to a sales representative.
  • Over half of B2B companies experienced increased Web traffic since launching an on-line checkout page.

"We are really excited about the B2B business as we are solving major problems in the current business climate for our clients. Additionally, the company has made significant strides in accelerating its European growth with management convening in Germany for a number of high-level meetings that will result in the opening of the first satellite office in Europe and significant business relationships to kick-start revenues," stated Mr. Moore. "We have turned the corner as far as crypto being a respected product, and now bank executives are beginning to understand that digital currencies can provide users more security than the current financial infrastructure.

"We continue to make substantial progress on our strategic goals and look forward to continuing to update our shareholders on upcoming initiatives," concluded Mr. Moore.

The company has recently updated its investor presentation.

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 Financial Transactions and Reports Analysis Centre of Canada.

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