Vancouver, British Columbia--(Newsfile Corp. - January 9, 2020) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NCCTF) ("NetCents" or the "Company"), a disruptive cryptocurrency payments company, is pleased to announce that it exceeded $1 million dollars in monthly processing volume in December 2019.
"Exceeding the one million dollar mark in monthly processing volume is a major milestone for us," stated Clayton Moore, Founder and CEO of NetCents. "Our proven ability to seamlessly scale our processing volume in a short period of time proves that our platform is ready for our continued exponential growth."
The Company is pleased with its 2019 results. The Company increased its monthly processing volume by 2,497%. In January 2019, the Company processed $39,436 in cryptocurrency transactions and ended the year by processing $1,024,030 in December 2019. During calendar 2019, the Company processed a total of $2,913,180 in cryptocurrency transactions.
In May 2019, the Company projected that it would continue to increase monthly processing volume by 40% month over month, reaching over $2 million dollars in monthly processing volume in Q1, 2020. The Company is pleased to report that it has exceeded this projection for 2019 and is on track to meet its Q1 2020 projections. This continued compounding 40% monthly growth rate is a key inflection point for the Company's future growth and revenue.
"During 2019, we tested and refined the system with 20 select merchants and we are ready to green light all of our and our partners' merchants," added Mr. Moore.
The Company is excited to start 2020 with our 54 partners and their 7 million merchants collectively.
About NetCents
NetCents is a next-generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry-free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online.
NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.
For more information, please visit the corporate website at www.net-cents.com or contact Sonja Bakgaard, Investor Relations: sonja.bakgaard@net-cents.com.
On Behalf of the Board of Directors
NetCents Technology Inc.
"Clayton Moore"
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51278
