NetCents Technology rapidly becoming the 'payment platform of choice' for cryptocurrency

A leader in the growing cryptocurrency merchant payment sector Seeing record transaction volume growth Developed a universal cryptocurrency payments infrastructure What NetCents Technology does: Rapidly-growing NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF) (FRA:26N) has developed a blockchain platform designed for merchants and consumers looking for a better way to transact online with cryptocurrency. The Vancouver, British Columbia-based digital payments specialist says its platform allows businesses to "seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market". In simple terms, the group's tech allows merchants and firms to accept cryptocurrency payments from customers by providing them - the recipients - with instant settlements. The platform is divided into three interrelated components: the user portal, the merchant portal, and the firm's own proprietary digital exchange platform. The platform is NetCents' own proprietary payment processing software and the company holds intellectual property (IP), which includes copyright in the development of its technology. The platform allows users to set up their own NetCents wallet; transfer monies - Fiat currency: namely legal tender whose value is backed by the government that issued it - from their bank account to their user account; transfer cryptocurrency from an external wallet to their NetCents Wallet; choose to either buy products and/or services online or in-store;  transfer monies to other parties, and buy or sell cryptocurrencies. NetCents Technology is led by CEO Clayton Moore, an entrepreneur with over 15 years of experience in the payments space. Before joining NetCents Moore founded Cybux, a payment platform focused on the service industry that is still being used today in many top Canadian restaurants and chains.   How is it doing: In April, NetCents said it hired Marcie Verdin as its Executive Vice President of Card and Solutions Development, who will focus on accelerating the company's growth and scale to service customer needs globally and lead and expand new product development.   The company added that as it continues its rapid growth and international expansion, the executive team has similarly evolved to meet growing customer demand and optimize internal operations.  Earlier in the month NetCents reported that it processed a record $19 million in cryptocurrency transactions in March, its largest monthly transaction volume, topping its February volume of $6.7 million by 172% and its January volume of $8.2 million by more than 122%. It attributed the transaction growth in part to an omnichannel marketing campaign that it said drove 507 conversions in March with an average cost per click of $1, a cost per action of $34 and a conversion rate of 9%. NetCents also noted that volume has been lifted by the company’s activation of the European market and an increase in processing European merchants through its German subsidiary. Previously, the company revealed it had fielded 10-to-15 new partner leads a week over the last two months with a close rate of 30%. Meanwhile in March, NetCents announced it has made progress in its entry into the Non-Fungible Tokens (NFT) space. The company said it is working with its partner The Human Interest Group on large consumer product opportunities to tie in with branded athletes or products in developing tokens that assist in verifying authenticity or official ties into celebrity athletes. Given the size of the opportunity at hand, Netcents said its board of directors has recently decided that the Non-Fungible Token opportunity is so massive and essential to the company's strategic direction that it will be creating a specific internal division around the product. In early February, the company announced that it has agreed to white label the NC Exchange in a move it says will increase its market share and future growth by providing vendors with a cost-effective business solution. The company said the white label product will allow its partners to connect and distribute cryptocurrency products more competitively to their users and clients by providing a platform to trade and manage their digital assets using highly secure infrastructure with advanced user interfaces and order types, as well as a user-friendly mobile app for convenience and easy access to markets. The news and targeting of expanded market share follows comments made in January by CEO Clayton Moore, who noted that that the cryptocurrency payments company is “in a stronger position for growth than at any point in our history” as the firm plans to launch what it is calling the NetCents Card Program, which would let users add a NetCents card to their Google and Apple wallets and use it virtually. Inflection points: More deals/ partnerships Greater transaction volumes What the boss says: Commenting on the company’s record cryptocurrency transactions volume in March, NetCents Technology CEO Clayton Moore said in a statement: "I'm especially proud of the strong growth in the last month of Q1 in 2021, which sets us up for continued growth in Q2 2021."  Moore added: "The uptick in global merchants, partner growth, and success of our partner and marketing campaigns demonstrate the legwork that we put into the market in 2020 is starting to pay dividends." Contact Sean at sean@proactiveinvestors.com