Vancouver, British Columbia–(Newsfile Corp. – September 10, 2019) – NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF)(“NetCents” or the “Company”)c is pleased to issue a letter to shareholders from the CEO, Clayton Moore.
Dear Fellow Shareholders,
Since launch, we boldly engineered an approach that mitigated the risk and volatility for merchants and consumers to adopt a new transactional medium. We seamlessly integrated cryptocurrency processing while ensuring we motivated these two key groups, who along with you, are the pillars of our growth.
We knew to get early buy-in required a new level of protocols to protect against fraud and identification theft while meeting a regulatory discipline to maintain the integrity of our system. We created trust with consumers and a seamless and intuitive merchant terminal-enabled user experience for buying, selling and transacting with cryptocurrencies.
We’ve been aggressive over the past two-plus years building an agile merchant gateway network. And, as we always believed, “if we build it, they will come,” and come they have. Today, we’re being equally aggressive in what comes next.
By most key measures, NetCents’ Merchant Gateway has been a success. Transaction volume, average transaction value, processing volume, and new merchant sign-ups numbers tell a compelling story. In May, we announced an average 41% month-over-month increase in processing volume and a projected 40% monthly growth rate. We also projected we’d surpass a 2020 first calendar quarter with a CAD 2 million monthly processing volume. We’re on pace to reach this target based on 2019 processing rates.
August processing volume was 539% greater than February – taking us less than 5-days to surpass the entire previous month. It wasn’t an anomaly; it was a strategy. We now need to M.A.P (Merchant Acquisition Program) our next steps to encourage more merchant participation and greater consumer benefit.