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NetCents exceeds $5M in transactions in August, emerges as “the payment platform of choice” for cryptocurrency

NetCents founder CEO Clayton Moore said the firm’s “rapid growth” and product advancements indicate that 2020 will be an “exceptional year”

NetCents - NetCents Technology transaction exceeds $5M in August, emerges as “the payment platform of choice” for cryptocurrency
The automation of the NetCents onboarding process has also contributed significantly to the number of accounts that can be onboarded on a monthly basis

NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF), a leading cryptocurrency payments technologies company, revealed on Monday that it exceeded $5 million in transactions within the NetCents platform in August, a 25% jump over July.

"We believe that this record growth not only validates our sales and marketing strategy with a focus on business-to-business (B2B) merchants, but is a strong indication that we are fast becoming the payment platform of choice for cryptocurrency," NetCents founder CEO Clayton Moore said in a statement.

"Our rapid growth coupled with our product advancements indicate that 2020 will be an exceptional year. I'm thrilled to continue building the future of cryptocurrency payments with our team," he added.

READ: NetCents Technology names investment banker Dr Claude Schmidt to its Advisory Board

NetCents said it is experiencing growth on “multiple fronts,” including B2B payments. “In 2020, the company has been laser focused on streamlining and enhancing the merchant experience to continue to drive mass adoption of cryptocurrency as a payment method,” said the company.  

Evidently, the company’s efforts to make the NetCents interface “look and feel” like a traditional merchant payment platform has paid off as merchants were onboarding quickly and “using the merchant gateway for transactions.” In addition, the rapid growth is driven by the NetCents platform relieving a bottleneck in payment capabilities for merchants. Therefore, new merchants are generating many “larger crypto transactions concurrent with completing the onboarding process,” said the company.

Most importantly, the automation of the NetCents onboarding process has also contributed significantly to the number of accounts that can be onboarded on a monthly basis. In 2020, the company has witnessed that 20% of merchants are completing a transaction on their first day.

NetCents, is a transactional hub for all cryptocurrency payments, and companies can seamlessly integrate cryptocurrency processing into their payment model simply by signing up for a NetCents merchant account.

Vancouver-based NetCents has developed a blockchain platform for merchants and consumers looking for a better way to transact online with cryptocurrency. Its technology allows merchants and firms to accept cryptocurrency payments from customers by providing them with instant settlements.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Price: 0.92 CAD

CSE:NC
Market: CSE
Market Cap: $74.49 m
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