NetCents Technology Announces Daily Merchant Settlements
VANCOUVER, B.C., June 23, 2020 – NetCents Technology Inc. (“NetCents” or the “Company“) (CSE: NC / Frankfurt: 26N / OTCQB: NTTCF), a disruptive cryptocurrency payments technologies company, is pleased to announce that it now provides daily settlements for all US-based merchants.
In 2020, NetCents management has been laser-focused on streamlining and enhancing the merchant experience to continue to drive mass adoption of cryptocurrency as a payment method. Research has indicated that cryptocurrency holders have an increasing interest in being able to spend their cryptocurrency in a convenient way and through the Company’s market research, NetCents has determined that upgrading the service experience for merchants is key to gaining broader merchant adoption and therefore growing potential transactions.
Through the Company’s market research, it was identified that the largest pain point for merchant acceptance of cryptocurrency was delays in settlement time. The final lynchpin to the additions of the enhanced merchant suite are now “daily payment capability” for all US-based merchants on the platform, eliminating settlement time as a gating item from mainstream cryptocurrency payment adoption.
In February, the Company launched daily settlements for enterprise merchants processing more than $100,000 per month in cryptocurrency transactions. The trial phase of daily settlements with these enterprise merchants went extremely well, enabling the Company is now offer it to all US-based merchants. In order to scale daily settlements to all US-based merchants, the Company integrated into ACH to eliminate all costs associated with merchant payouts for both the Company and its merchants.
In addition to the ACH integration, the capability to service large-scale daily settlements comes through the recently announced a credit facility totalling 1.4 billion USD that enables NetCents’ to front-load US-based merchant settlements which is especially welcome as many of the Company’s clients are operating during significant economic uncertainty.
“Since we migrated NetCents to a crypto-only platform we have been working diligently to overcome public perceptions that cryptocurrency isn’t trustworthy,” stated Clayton Moore, Founder and CEO of NetCents Technology. “The ability to offer daily settlements to merchants is another feather in our cap in the eyes of our merchants, as they can get their money faster. Which really increases the confidence level in our products.”
The Company’s technology is deployable across millions of terminals worldwide.
In addition to streamlining and offering daily settlements to merchants, the Company has improved the merchant experience in 2020 with these merchant gateway advancements:
- Addition of Lightning Network as a payment method
- Enterprise invoicing suite to support SaaS, PaaS, agencies, and B2B merchants
- Enhanced Business Intelligence reporting
- Expanded and streamlined merchant and onboarding support
- Expansion of refund functionality within the merchant gateway
- Enhancement to merchant gateway and terminal API’s for custom enterprise integrations
“We have been very busy during these times, the interest in using crypto as a payment mechanism, as well as touchless, and cashless payments has really put a spotlight on our platform both in the eyes of the end consumer, merchants, and financial intermediaries,” added Clayton Moore. “We look forward to announcing the finalization of some major developments based on these trends.”
NetCents Technology Inc, 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 FINTRAC.
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On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 – 1021 West Hastings Street
Vancouver, BC, V6E 0C3
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.