VANCOUVER, British Columbia, May 9, 2019 /CNW/ --NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC) (Frankfurt: 26N) (OTCQB: NTTCF), is pleased to announce that it has increased processing volumes in the last three consecutive months.
For the months of March, April, and May, NetCents has realized an average of 41% month over month increase in processing volume each month. The Company realized a 44% increase in March over February, a 37% increase in April over March, and is on track to increase processing by 42% in May over April.
Based on current growth rates and projections, the Company estimates it will exceed $6.5 million CAD in processing volume by January 2020 and anticipates surpassing $2 million CAD per month in processing volume in the first calendar quarter of 2020.
Over the past 6-months, the Company has focused its business development efforts to launch and grow its Partnership Programs. The Company is beginning to gain momentum with the groundwork that it has laid over the past 6-months with over 600 new direct merchants signed up in the last couple of months to use NetCents as their cryptocurrency payment processor.
"Having focused our efforts laying the groundwork, gaining market share, and strategically positioning ourselves with ISO's, gateways, processors, POS/terminal manufacturers and distributors, we are seeing results," stated Clayton Moore, CEO and Founder of NetCents. "Now that the foundation is laid, onboarding has begun, and we continue to educate our partners, we are seeing an increase in the adoption rate of merchants and an increase in our transaction and volume and revenue."
As part of the Company's business development strategy, NetCents has attended a number of key payments and cryptocurrency/blockchain conferences to promote both our Partnership Programs and merchant direct cryptocurrency payment processing services. "Through our continued participation at key events and conferences, we have been able to meet and conduct business with leaders in both the payments and blockchain industries and have witnessed the evolution and growth of industry support of cryptocurrency as a payment method," added Mr. Moore. "The feedback we've received at every event has been resoundingly positive and continues to drive new business opportunities for us. To build on our previous successes, last week we attended ETA in Las Vegas and next week, the team will be in New York for Consensus and Blockchain Week."
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.
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.
SOURCE NetCents Technology Inc.