Vancouver, British Columbia--(Newsfile Corp. - February 19, 2020) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"), a disruptive cryptocurrency transaction solutions Company, is pleased to announce that it exceeded $1.3 million in monthly processing volume in January 2020.
The monthly transaction volume of $1,348,321 in January represented a nearly 32% increase over December 2019 when the Company processed $1,024,030. The Company has communicated a monthly growth target of 40% a month to Investors, and attributes the 32% growth rate to the seasonal slump which is characteristic of most e-commerce and retail settings post holiday season.
Based on the month-to-date numbers for February, NetCents believes that the February processing transactions will represent the 40% monthly trend as predicted by the Company.
"Reaching one million in processing volume in December was a major milestone for NetCents but our continued growth proves that we can deliver consistent, compounding increases that we've projected," stated Clayton Moore, Founder & CEO of NetCents Technology. "With our laser focus on improving the merchant and user experience, combined with our merchant and partner sales strategies, we are on track to achieve our objective of processing $64 million in cryptocurrency transactions this year."
NetCents management is completing a European visit comprised of meetings with numerous potential strategic and financial partners. "Visiting institutions as well as FinTech Companies here in Europe has been invigorating. NetCents has been diligently working on its tech stack and now that it is ready for prime time, there are many Investors and Partners that are interested in participating or collaborating on what we have created. I am excited to move many of these possible initiatives forward and share them with Investors as they become solidified." stated Mr. Moore.
The Company looks forward to reporting the February results at month end.
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
On Behalf of the Board of Directors
NetCents Technology Inc.
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.
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