NetCents says upgrade to robust cryptocurrency SaaS platform among 2018 advances

NetCents Technology Inc (CSE:NC) said Monday an upgrade to a robust cryptocurrency software as a service (SaaS) platform was among its milestones in 2018.

The Vancouver-based online payment processor said Monday in a press release that it also deployed iOS and Android merchant and user applications, implemented its instant settlements program and developed and deployed an asset management platform. Four new cryptocurrencies were added to its platform as well, cloud computing was integrated and its NC exchange was upgraded too.

“In 2018, the company was focused on laying the groundwork and building the foundation for future success, including signing key partnerships in the traditional payments space and building a best in breed platform,” said Clayton Moore, founder and CEO, said in a statement.

READ: NetCents has been around the blockchain; gears up to disrupt the crypto payments industry

In the final quarter of 2018, NetCents reported a 206% increase in direct merchant sign-ups. In addition to the announced merchants, the company now boasts more than 425 direct merchant sign-ups, and the rate  of sign-ups has increased each month.

In the last half of last year, NetCents forged a number of new partnerships and merchant agreements.

These tie-ups include an agreement with MindGeek as well as WealthShop, a chain of legal marijuana dispensaries. A five-year revenue-sharing agreement with High Risk Commerce LLC, meanwhile, will pave the way for the NetCents merchant gateway to be on offer to tens of thousands of online merchants processing billions of dollars in transactions, according to NetCents.

READ: NetCents says direct merchant cryptocurrency sign-ups more than tripled in past quarter

Other new pacts include a five-year revenue-sharing agreement with Post Socratic Ventures, which opens up access to 28 Caribbean countries as well as a five-year independent sales organization reseller agreement with Obanc, which caters to high risk and Las Vegas-based merchants.

On top of these moves, deals were worked out with SecureGlobalPay, a merchant service provider specializing in custom payment gateways, Kubera Payments, Sweet Bling, HubNet Media, LightHammer Consulting, which has a focus on the Canadian cannabis space andVerge Currency. Pacts with SoftPoint and  Bleu Pos, which have both integrated NetCents into their systems to allow thousands of merchants to accept cryptocurrency were also signed.

Separately, NetCents has pushed back the release of its cryptocurrency credit card program in Canada to the spring of 2019 because of development work required for signed partner and merchant contracts.

NetCents is an 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 blockchain technology.

NetCents shares added 10% to hit C$0.77 in Monday’s morning trading session.

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors