Vancouver, British Columbia--(Newsfile Corp. - October 24, 2019) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company") is pleased to announce that it continues to observe growth in both overall external market demand for cryptocurrency payment services and internal key Company metrics, notably merchant adoption of cryptocurrency payments.
With recent activity bringing cryptocurrency back to the forefront of conversations, the Company has seen a corresponding spike in merchant demand to enable them to capitalize on growing desire by consumers to be able to spend their cryptocurrency.
The Company has achieved a 72% average monthly growth in new merchant sign-ups every month since April, 2019. This increase in Company merchant onboarding in conjunction with overall consumer and merchant demand was reflected in the Company's Q3 Financial Statements released in September 2019, where the Company achieved the following growth:
- Revenue increased 399% over Q2
- Merchant processing revenue increased by 498% over Q2
- Processing volume increased by 360% over Q2
- Transactions increased by 296% over Q2
- Merchant sign ups increased by 121% over Q2
"With traditional payment companies new rules, increasing focus on medium and enterprise businesses, and zero tolerance for risk, payments are becoming increasingly difficult and expensive for merchants, forcing them to seek out alternative payment methods," stated Clayton Moore, Founder and CEO of NetCents Technology. "Our continued increase in merchant signups and processing volume shows that merchant and consumer demand is here. With the continuous flow of merchants actively seeking alternative payment choices, it demonstrates that there is a real need and want for the services we provide."
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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