VANCOUVER, Aug. 27, 2018 /CNW/ - NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC / Frankfurt: 26N) is pleased to announce that it has entered into a three-year exclusive enterprise licensing agreement with Post Socratic Ventures (PSV) and has added Bitcoin Cash (BCH) to the NC Exchange.
"We look forward to integrating our merchants and partners the NetCents platform. We selected the NetCents platform due to their Instant Settlement capability, eliminating the volatility risk for our merchants," stated Carlos Mendez, Director of Communications at Post Socratic Ventures. "We are confident that NetCents is the perfect partner due to their game-changing platform and their addition of Bitcoin Cash to the platform to service demand from our current partners."
PSV is a new venture for the team of industry veterans. Together, they have extensive experience in the payments, blockchain, tourism, and telecommunications industries having worked on the development of multiple online payment systems, POS terminal application development, PCI compliance, network administration, infrastructure design, and end-to-end encryption, with multiple successful deployments in several countries.
PSV will begin to integrate the NetCents cryptocurrency payment processing platform into their merchants and partners in the Caribbean. Through the agreement, the Company has assigned PSV exclusive rights to the Caribbean region, including: Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bonaire, British Virgin Islands, Cayman Islands, Cuba, Curazao, Dominica, Dominican Republic, Grenada, Guadeloupe, Haiti, Jamaica, Martinique, Montserrat, Saba, Saint Barthelemy, Saint Kitts & Nevis, Saint Lucia, Saint Martin, Saint Vincent, Sint Eustatius, Sint Maarten, Trinidad & Tobago, Turks & Caicos Islands.
PSV requested the addition of Bitcoin Cash due to demand from merchants and partners in their pipeline in the Gaming, Tourism and Crypto Tourism, and Luxury Hospitality industries based in the Caribbean.
The integration of BCH into the NC Exchange is the first phase of the integration of the coin into the NetCents ecosystem. NetCents users are now able to deposit, withdraw, and trade BCH for fiat and cryptocurrencies supported by the NC Exchange with other NC Exchange users.
During the second phase, BCH will be added into the NetCents Merchant Gateway. Once BCH has been added to the Company's Merchant Gateway, BCH holders will be able to spend their coins at NetCents merchants who accept BCH.
BCH is currently the #4 cryptocurrency worldwide based on market cap with a market cap of $9,075,212,884 USD, a 24-hour volume of $294,046,048 USD, and over 17 million coins circulating in the market1.
BCH is a fork from Bitcoin Classic. Bitcoin Cash differs from Bitcoin Classic in that it increases the block size from 1 MB to 8 MB. It also removes Segregated Witness (SegWit), a proposed code adjustment designed to free up block space by removing certain parts of the transaction. The goal of Bitcoin Cash is to increase the number of transactions that can be processed, and supporters hope that this change will allow Bitcoin Cash to compete with the volume of transactions that PayPal and Visa can handle by increasing the size of blocks2.
NetCents is a next-generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry-free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online.
NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy. 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 880, 505 Burrard St (Bentall 1),
Vancouver, BC, V7X 1M4
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.
1 Coin Market Cap, August 23, 2018. https://coinmarketcap.com/currencies/bitcoin-cash/
2 Investopedia. https://www.investopedia.com/terms/b/bitcoin-cash.asp
SOURCE NetCents Technology Inc.
For further information: please visit the corporate website at www.net-cents.com or contact Gord Jessop, President: firstname.lastname@example.org, 604-895-7423.