NetCents Technology Reports Record Transaction Volume Growth in B-To-B Transactions
VANCOUVER, B.C., August 5th, 2020 – NetCents Technology Inc. (“NetCents” or the “Company“) (CSE: N.C. / Frankfurt: 26N / OTCQB: NTTCF), a cryptocurrency payments technologies company, is pleased to announce that NetCents Technology Inc. exceeded $4-million in monthly processing volume in July 2020, which represents 100-per-cent growth over the previously reported February 2020 numbers.
The growth in the monthly transaction volume was partly caused by NetCents continuing to grow its business-to-business (B2B) transaction flow. The company is mining a new market segment by supporting larger transactions that have the effect of significantly lifting the average transaction size.
“This growth in B2B is a clear indicator of a maturing business — using crypto for small consumer purchases has a novelty to it, for sure, but now we are seeing large businesses embrace crypto as part of their process, it is a very revealing trend,” stated Clayton Moore, founder and chief executive officer of NetCents Technology. “We are confident that this trend will continue, and that businesses will adopt crypto-payments permanently as part of their workflow. We can save businesses a lot of money by facilitating cross-border and cross-currency transactions. We are finding that once a customer is on-boarded, they find that their hesitation around working with cryptocurrencies was completely unfounded,” he concluded.
The NetCents interface is designed to look and feel like all traditional merchant payment platforms, therefore Merchants are not intimidated by any complexity of the cryptocurrency environment. This means that once on-boarded, merchants are likely to embrace cryptocurrency payments, as well as employ one of the marketing programs that NetCents provides its merchants.
The growth in transaction volume is also being affected by the growth in crypto-wallets worldwide; as of June 2020, there are over 50 million wallets that have been created. This milestone represents a 25-per-cent growth on a year-to-year basis. The company believes that for the first time many of these wallets are being created for transactional purposes as opposed to purely for investment or trading. Management also believes that the current bitcoin rally will also generate additional interest in cryptocurrency, as a rising bitcoin market has historically accelerated the growth of crypto-wallets. Cryptocurrencies as an asset class represent a value of $344-billion. The majority of this value is attributable to bitcoin, which has appreciated 23 percent over the last month.
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.
For more information, please visit the corporate website at www.net-cents.com
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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.