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NetCents Technology signs its 40th partnership agreement for cryptocurrency platform

The Vancouver-based cryptocurrency company has double its number of partners since February 2019

crypto in wallet
Vancouver-based NetCents is an online electronic payment service provider

NetCents Technology Inc (CSE:NC) (OTCMKTS:NTTCF), the electronic online payment service provider, is celebrating after signing its 40th partnership agreement this week.

The Vancouver-based cryptocurrency company has doubled its number of partners since February 2019.

CEO Clayton Moore told shareholders that the pace of partner growth validates the company’s business model as more and more merchants adopt cryptocurrency as a payment.

READ: NetCents Technology says signed up more merchants in first 3 days of September than in the entire month of May

"Whereas in 2018 and early 2019, we needed to actively sell our partners on the advantages of NetCents, we are now having major players in the payments space actively seek us out to allow them to offer cryptocurrency by embedding our Merchant Gateway within their technology, providing merchants a seamless experience and onboarding process for cryptocurrency payments,” Moore said in a statement.

The company uses partners to access merchants, users, and agents who actively sell the NetCents cryptocurrency platform.

According to Moore, the company has experienced an average 95% monthly increase in merchant signups since May, in addition to an average of 39% increase in processing volume every month since February.

"We are already seeing the early success of our partner strategy come to fruition," Moore told shareholders.

The technology company also said that it has begun a merchant acquisition plan to augment its partnership program with the goal to add 15 enterprise merchants that process over US$20 million in annual sales.

NetCents said that the team working on the merchant plan has had initial success reaching out to businesses across North America, Europe and Australia.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: NetCents

Price: 0.44 CAD

CSE:NC
Market: CSE
Market Cap: $23.27 m
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