Vanbex Partners with NetCents to Accelerate Adoption of Blockchain Technology to Canadian Banks
Vancouver, B.C., August 4, 2016 – NetCents Technology Inc. (“NetCents” or the “Company”) (CSE: NC) and The Vanbex Group are pleased to announce a strategic partnership between the professional services firm and the online payment service provider. The partnership will work together to provide a streamlined, full end-to-end innovative financial services platform.
The union allows both companies to utilize each other’s strengths in order to develop the next generation of financial transactions by utilizing the emerging technology, the blockchain. Blockchain technology has the potential to replace the over 30 trillion financial transactions per year currently processed by the Automated Clearing House (ACH) and the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
NetCents will be integrating Vanbex Group’s Genisys product, a blockchain-integrated payment platform that offers a cost-effective, turn-key transaction messaging system for cross-border payments, to work in conjunction with the SWIFT and Clearing House Interbank Payments System (CHIPS) protocols.
“We believe working with an internationally recognized and accepted brand like NetCents will help put Genisys and NetCents at the forefront of global payments,” said Kevin Hobbs, CEO at Vanbex Group.
“By Integrating Genisys with NetCents we will now be able to begin to introduce next generation processing for banking financial transactions by offering a solution that will update the current, antiquated banking transfer platform,” said Clayton Moore, CEO and founder at NetCents Technology Inc.
Mr. Moore added, “By utilizing Vanbex’s industry-leading blockchain-based product we will begin introducing these processing opportunities to the financial world, starting with financial institutions in Canada.”
NetCents works with financial partners, mobile operators and exchanges to streamline the user experience of transacting online. NetCents’ technology is integrated into the ACH, which ensures consumers’ security and privacy.
NetCents recently commenced beta testing on its Payment Gateway platform, an ecommerce application that processes and authorizes secure credit card transactions in both digital and traditional fiat currency, as well as PayPal and Apple Pay for merchants.
Genisys is a blockchain-integrated payment system that allows its users to send financial messages globally to any banking partner using unique blockchain messages, user created messages for added security as well as existing legacy financial messages like the International Organization for Standardization and SWIFT. It replaces the existing financial infrastructure and replaces it with a more secure, efficient, and cost-effective solution.
NetCents is an electronic payments technology company offering consumers and merchants online services for managing electronic payments by a variety of payments methods through its processing platform. NetCents works with its financial partners, mobile operators, exchanges, etc. to streamline the process and user experience of transacting online. The NetCents platform is integrated into the Automated Clearing House (“ACH”) through the Royal Bank of Canada (“RBC”, “Royal Bank”). NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.
On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
Suite 1500, 885 West Georgia Street
Vancouver, British Columbia V6C 3E8
Cautionary Note Regarding Forward Looking Information
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.