NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF), a cryptocurrency payments company, announced Wednesday that it has completed a partnership with Sosure Pty Ltd of Australia -- which has developed a payment app that rewards users for participation.
The app is a new reward ecosystem designed to give members the most flexibility and value when shopping. Partner merchants include restaurants, retail outlets, and online stores and members earn rewards that can be used across the entire network of participants in the network.
NetCents said Sosure has chosen Melbourne, Australia as the focus of marketing efforts, and is now branching out into other markets across Australia. The platform is currently averaging 500,000 transactions per month, with average transactions exceeding $20.
Sosure, whose platform is accepted by 450 merchants, also plans to add cryptocurrency as a payment method in the coming weeks, NetCents said.
NetCents also said its plans to increase its operating footprint in the Australian market, where cryptocurrency interest outpaces NetCents' strong presence in North American.
"The creation of Bitcoin was spurred by a desire to create transaction processes that streamlined electronic commerce; we at NetCents haven't lost sight of that goal. Sosure has taken this a step further by incentivizing consumer behavior through rewards,” said NetCents CEO Clayton Moore in a statement.
“We believe that the best way to accelerate the adoption of cryptocurrency as a transactional medium is to reward users for using cryptocurrency to close out a transaction instead of using fiat currency.”
NetCents said it has added the Australian Dollar to the list of fiat currencies in which it can transact. It is currently seeking additional platforms across Europe and Asia to increase its operating footprint.
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