NetCents Technology Provides Growth Strategy Update
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2019) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"). Since launching its cryptocurrency merchant gateway in 2018, the Company has been diligently working towards laying the foundation for its strategy to create long-term growth and revenue for the Company. The Company would now like to provide an update regarding these strategies.
Recently, the Company launched its Partnership Program. This program has been successful for the Company, and to date, has resulted in the Company entering into over 25 partnerships. Since signing these contracts, the NetCents team has been working with its partners to educate, develop marketing and promotional materials, and educate the partners' merchants on the benefits of accepting cryptocurrency as a payment method.
The Company has achieved multiple key milestones for the Partnership Program and is now signing new merchants, processing payments, generating revenue, and processing partner referral payouts. To continue activating our Partners, the Company recently attended ETA in Las Vegas with PAX and The National Restaurant Association Show in Chicago with SoftPoint. These conferences were successful in both further solidifying these existing relationships as well as generating new partner and merchant leads for the Company.
Recently, the Company has conducted a small trial of its merchant direct sales strategy. The focus of this strategy is on enterprise-level merchants who are looking for a cost-effective alternative to credit card payments and merchants who already accept cryptocurrency. This target audience was selected to enable the Company to generate processing volume and revenues from these merchants quickly with as little friction as possible.
The Company has had early success with this strategy signing Surge365 and InCruises with their 135,000 member-base. With Surge365 and InCruises, our recently announced 600 new merchants, and 150 direct merchant signups in the past couple weeks, we've proven that our identified markets and our direct to merchant strategy works.
The Company has already begun seeing the effects of this strategy take hold. On May 9th 2019, the Company announced that it had increased its processing volumes in the last three consecutive months. Since February, NetCents has realized an average of 41% month over month increase in processing volume each month and the Company projected to increase processing volume by 42% in May over April. The Company actually realized a month over month growth rate for May of 78.9%, nearly doubling the projected growth rate.
In order to continue this increase in monthly processing volume growth to drive Company revenue as well as fully launch its merchant direct sales strategy, the Company has recently hired three new team members, Danielle Blackwell, Guillaume (Will) Brochu, and Joshua Hebert, to join the Company's business development team. We are pleased to report that in the first 7-business days that Guillaume has been with the Company, he has signed a new merchant each day, further proving the efficacy of our merchant direct strategy.
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.
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