NetCents Technology Inc (OTCMKTS:NTTTCF) (CSE:NC) announced Thursday it has increased processing volumes in March and April, and expects the trend to continue through May.
The Vancouver-based company realized a 44% increase in March over February, a 37% increase in April over March, and is on track to boost processing by 42% in May over April, according to a statement.
Together, NetCents said that comes out to an average of 41% month-over-month increase in processing volume.
READ: NetCents Technology strikes deal to process cryptocurrency payments for ILO crypto
Based on current growth rates and projections, NetCents said it estimates it will exceed C$6.5 million in processing volume by January 2020 and anticipates surpassing C$2 million per month in processing volume in the first quarter of 2020.
NetCents is an online payment processing platform as well as a transactional hub for cryptocurrency payments.
Over the past six months, the company has focused its business development efforts to launch and grow its partnership programs. The company said it is beginning to gain momentum with over 600 new direct merchants signed up in the last couple of months to use NetCents as their cryptocurrency payment processor.
As part of its development strategy, company representatives have been attending several key payments and cryptocurrency/blockchain conferences to connect with prospective clients.
"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," said CEO Clayton Moore.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham
