Proactiveinvestors USA & Canada NetCents https://www.proactiveinvestors.com Proactiveinvestors USA & Canada NetCents RSS feed en Wed, 23 Jan 2019 03:41:13 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - NetCents kicks off formal application process to list on the OTCQB exchange ]]> https://www.proactiveinvestors.com/companies/news/212808/netcents-kicks-off-formal-application-process-to-list-on-the-otcqb-exchange-212808.html NetCents Technology Inc (CSE:NC) announced Thursday that it has initiated the formal application process to trade on the OTC Markets' "QB" exchange.

The Vancouver-based online payment processor offers 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.

The company is now listed on the Canadian Securities Exchange, the Frankfurt Stock Exchange and is hoping to trade soon in the Uunited States through the OTCQB venture market.

READ: NetCents says upgrade to robust cryptocurrency SaaS platform among 2018 advances

To be eligible, companies must be current in their reporting, undergo annual verification and certification and meet a $0.01 bid test.

"We have been planning to cross-list for quite a while but have been waiting until we established a footprint in the US,” said NetCents Technology founder and CEO Clayton Moore. “And now, with all of our signed US-based agreements along with the enhancements and platform functionality, the timing is now right for our formal entry into the US market," added Moore.

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.

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.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 17 Jan 2019 09:44:00 -0500 https://www.proactiveinvestors.com/companies/news/212808/netcents-kicks-off-formal-application-process-to-list-on-the-otcqb-exchange-212808.html
<![CDATA[News - NetCents says upgrade to robust cryptocurrency SaaS platform among 2018 advances ]]> https://www.proactiveinvestors.com/companies/news/212082/netcents-says-upgrade-to-robust-cryptocurrency-saas-platform-among-2018-advances-212082.html 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, 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 ellen@proactiveinvestors.com

 

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Mon, 07 Jan 2019 10:54:00 -0500 https://www.proactiveinvestors.com/companies/news/212082/netcents-says-upgrade-to-robust-cryptocurrency-saas-platform-among-2018-advances-212082.html
<![CDATA[News - NetCents has been around the blockchain; gears up to disrupt the crypto payments industry ]]> https://www.proactiveinvestors.com/companies/news/211687/netcents-has-been-around-the-blockchain-gears-up-to-disrupt-the-crypto-payments-industry-211687.html Bitcoin enthusiasts were celebrating the 10th birthday of the digital asset synonymous with cryptocurrency earlier this year. Creator Satoshi Nakamoto published a white paper online about peer-to-peer virtual currency back in 2008 and the rest is history. 

It’s been a volatile year for Bitcoin, but true-blue crypto enthusiasts are a loyal bunch and have hung on tight as the rollercoaster ride continues.  

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

The digital asset does have its fair share of naysayers from former Federal Reserve Chair Janet Yellen to JPMorgan Chase & Co (NYSE:JPM) CEO Jamie Dimon.

One of the loudest complaints about the crypto space is that digital assets aren’t really currency because they are difficult to spend. What good is a currency that the average person can’t use to buy something?

NetCents Technology Inc (CSE:NC) (OTCMKTS:NTTCF) heard the gripes loud and clear and rolled up its sleeves to develop a platform that would silence them once and for all. 

Solid foundation

CEO Clayton Moore, a 15-year veteran of the payments space, had just sold his company Cybux, a service industry-focused gift card platform, when he founded NetCents in 2006.   

“We were developing blockchain technology back when people didn’t really know yet what that was, or how it would change the weren’t even really aware of the term,” said Moore in an exclusive interview with Proactive Investors.

“We’re not one of these new companies that just popped out of the blue in this last big boom here to try to capitalize on this recent wave of interest in blockchain. We’ve been around for a while and have been through a few waves of growth in the space,” added Chief Revenue Officer Jenn Lowther.

Its user-friendly platform was designed to facilitate secure cryptocurrency transactions between merchants and consumers, making it as simple as possible for all parties involved. 

Merchants can accept fiat, credit card or cryptocurrency and process crypto-to-crypto or crypto-to-fiat settlements. 

NetCents describes its platform as “cryptocurrency agnostic” as its able to process any cryptocurrency.

The Vancouver-based company values the cryptocurrency payment processing market at $228 billion.

Secure transactions

The Federal Deposit Insurance Corporation was founded in 1933 during the Great Depression, designed to restore economic stability and to regain consumers’ trust in the American banking system.

Consumers have come to expect that level of protection and have been quick to point out where digital assets are lacking in the security department.

NetCents is integrated into the Automated Clearing House, an e-network for financial transactions, and is registered as a Money Services Business with Financial Transactions and Reports Analysis Centre of Canada.

Merchants are protected from the notorious market volatility associated with cryptocurrency through NetCents’ proprietary Instant Settlements process.

READ: NetCents releases its first SaaS-based cryptocurrency payments processing platform

The sale price is guaranteed for merchants, locking in the crypto-to-fiat exchange rate at the time of the transaction and allowing for merchants to feel secure in accepting crypto whether online or in-store. 

Merchants also benefit from a low transaction fee, seeing savings between 3% to 9%, the company estimates.

On the flip side, consumers will soon have access to a cryptocurrency credit card that can be used anywhere Visa or MasterCard are accepted, giving them access to more than 40 million merchants.

The card, which is expected to roll out in 2019, acts similar to an eWallet, but consumers don’t store the coins on pre-loadable cards. Instead, the card is used to purchase crypto at market price.

Its designed to protect against volatility and can speed up the transfer time compared with slower, legacy methods like wire transfers.

Blockchain is not Bitcoin

Blockchain and Bitcoin are two of the buzziest words in the crypto space, but they’re not one in the same.

“The correlation should never be between Bitcoin and blockchain, or the companies that are developing the technology in the space. Bitcoin is one coin, one currency,” said Moore.

While the price of Bitcoin has fluctuated wildly, NetCents’ business has remained steady.

Despite the 2018 bear market, NetCents has seen its direct merchant sign-ups more than triple, reporting a 206% increase in its last quarter, totaling 387 sign-ups.

"We have an increasing number of companies, both partner and merchant, approaching us directly," said Moore.

"With the increase in merchant sign-ups, the addition of core partners in the payments space, and key platform upgrades, we are ready for our projected growth in merchants and revenue," he added.

Going forward
“The real tech community is going gangbusters right now over blockchain technologies and cryptocurrencies to develop technology to make it easier, quicker, faster and better. The next wave, whenever that may come, will eclipse this last one,” said co-founder Fraser Macdougall.

In anticipation of continued growth, NetCents recently launched its SaaS-based platform for merchants looking to add cryptocurrency processing to their platform.

NetCents plans to integrate merchant support for 60 countries and payout merchants in more than 30 fiat currencies.

Gaming and wagering companies have been especially receptive to the NetCents’ technology.

NetCents has inked deals with several such companies, including WildBunch Gaming and HubNet Media, which manages trading sites that cater to retail traders.

Looking ahead, NetCents is aiming to gain ground in eSports spaces and online travel companies.

--Lenore Fedow contributed to this report

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Fri, 21 Dec 2018 11:31:00 -0500 https://www.proactiveinvestors.com/companies/news/211687/netcents-has-been-around-the-blockchain-gears-up-to-disrupt-the-crypto-payments-industry-211687.html
<![CDATA[News - NetCents says direct merchant cryptocurrency sign-ups more than tripled in past quarter ]]> https://www.proactiveinvestors.com/companies/news/210508/netcents-says-direct-merchant-cryptocurrency-sign-ups-more-than-tripled-in-past-quarter-210508.html Blockchain-focused online payment processor NetCents Technology Inc (CSE:NC) (OTCMKTS:NTTCF) said Tuesday that direct merchant signups more than tripled in the past quarter.

In addition to merchant partners, there are now 387 direct merchant sign-ups, the Vancouver-based company said in a press release. 

READ: NetCents releases its first SaaS-based cryptocurrency payments processing platform

NetCents added that sign-ups have accelerated each month and that it expects quarterly growth of as much as 500% in direct and partner merchant sign-ups in the year ahead.

"It's great to see all of our hard work starting to coalesce," CEO Clayton Moore said in a statement. "We have spent the last year laying the groundwork to become the underlying technology to drive cryptocurrency payments, and it is starting to take off."

Since launching its partnership program in August, the company has announced eight major partners. Under these partnerships, the company has direct access to hundreds of thousands of merchants that these partners currently have in their portfolios.

Cryptocurrency platform grows

The company added that it has begun adding the merchants to the NetCents platform and that the merchants are now accepting cryptocurrency.

Earlier this week, NetCents said it had released the first cryptocurrency processing platform based on the software as a service (SaaS) distribution model.

Shares of NetCents slipped C$0.01 to C$1 in Tuesday’s Canadian trading.



Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 04 Dec 2018 10:35:00 -0500 https://www.proactiveinvestors.com/companies/news/210508/netcents-says-direct-merchant-cryptocurrency-sign-ups-more-than-tripled-in-past-quarter-210508.html
<![CDATA[News - NetCents releases its first SaaS-based cryptocurrency payments processing platform ]]> https://www.proactiveinvestors.com/companies/news/210414/netcents-releases-its-first-saas-based-cryptocurrency-payments-processing-platform-210414.html Blockchain-focused online payment processor NetCents Technology Inc (CNSX:NC) (OTCMKTS:NTTCF) said Monday that it has released the first cryptocurrency processing platform based on the software as a service (SaaS) distribution model.

The Vancouver-based company said in a press release that the SaaS platform is designed to be a turnkey approach to starting or adding cryptocurrency processing to a platform or portfolio. The versatility and flexibility of the system allows easy branding, onboarding and integration, according to NetCents.

READ: NetCents' technology gets a boost as it enters reseller deal with Kubera Payments

"We knew that we needed to partner with key players in the payments space and work together to bring crypto payments from a vision of the future to a reality and make it easier for consumers to spend crypto," CEO Clayton Moore said in a statement. "With our upgraded platform, we are now poised to be able to rapidly onboard these new partners and their merchants, bringing us one step closer to our goal of becoming the technology that powers cryptocurrency payments worldwide."

NetCents added that it has developed four application programming interface (API) documents for ease of integration with merchants and partners as well as point-of-sale and terminal environments.

Last month the company struck a reseller agreement with Vancouver-based Kubera Payments for its cryptocurrency merchant gateway.

Shares of NetCents climbed C$0.01 to C$0.96 in Monday’s Canadian trading.



Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

 

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Mon, 03 Dec 2018 10:25:00 -0500 https://www.proactiveinvestors.com/companies/news/210414/netcents-releases-its-first-saas-based-cryptocurrency-payments-processing-platform-210414.html
<![CDATA[News - CryptoCann™ Report: Statistics Canada turns to toilet for cannabis use data; NetCents releases SaaS-based platform ]]> https://www.proactiveinvestors.com/companies/news/210417/cryptocann-report-statistics-canada-turns-to-toilet-for-cannabis-use-data-netcents-releases-saas-based-platform-210417.html On Monday, Blockchain-focused online payment processor NetCents Technology Inc (CSE:NC) (OTCMKTS:NTTCF) said it released the first cryptocurrency processing platform based on the software as a service (SaaS) distribution model.

Shares perked up 2.1% to C$0.97.

READ: NetCents releases its first SaaS-based cryptocurrency payments processing platform

In other news, Group of 20 country leaders have called for an international cryptocurrency taxation.

The decision was reached at the G20 leaders’ summit held Dec. 1 in Argentina. The regulations will be in line with the Financial Action Task Force (FATF) recommendations.

A joint press statement said: “We will continue to monitor and, if necessary, tackle emerging risks and vulnerabilities in the financial system; and, through continued regulatory and supervisory cooperation, address fragmentation.”

November has been an unusually tough month for crypto markets, with its sharpest single-month decline in around four years. It is estimated that US$70 billion, or one-third of the market, was wiped out in November, which plunged all altcoins to their lowest levels in well over a year.

Ian King, senior analyst at Banyan Hill Publishing, spoke to Proactive Investors recently about the current state of the cryptocurrency market.

WATCH: Banyan Hill Publishings' Ian King explains the sell-off in crypto this week

King says the sell-off began when Bitcoin Cash made a software update, and the largest miner of bitcoin then shifted its capacity to Bitcoin Cash, causing mining to drop for the first time in two years. 

 

The Cann Report

To thine own toilet, be true.

Instead of using the phone, Canada’s statistics department, Statistics Canada, turned to the toilet to get information about cannabis users.

From March through August of 2018, Stats Canada analyzed the wastewater of five cities: Halifax, Montreal, Vancouver, Edmonton and Toronto. It tested sewage samples to detect amounts of THC-COOH, a metabolite produced by people after they consume cannabis' psychoactive compound,THC.

READ: Asterion Cannabis builds economies of scale for competitive advantage

The new data suggest Halifax has the highest rate of cannabis consumption per capita among five urban centres across the country.

In other news, Tetra Bio-Pharma Inc (CVE:TBP) has won financing from its partner and fellow Canadian cannabis company Aphria (TSE:APHA) (NYSE:APHA) and closed a private share placement drawing in proceeds of C$7.1 million.

According to Aphria, the investment will allow Tetra to ratchet up its drug development activities over the coming months.


Contact Katie Lewis at katie@proactiveinvestors.com

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Mon, 03 Dec 2018 09:57:00 -0500 https://www.proactiveinvestors.com/companies/news/210417/cryptocann-report-statistics-canada-turns-to-toilet-for-cannabis-use-data-netcents-releases-saas-based-platform-210417.html
<![CDATA[Media files - NetCents Technology disrupting cryptoworld and soon to have technology in 60 countries ]]> https://www.proactiveinvestors.com/companies/stocktube/11293/netcents-technology-disrupting-cryptoworld-and-soon-to-have-technology-in-60-countries-11293.html Fri, 23 Nov 2018 12:00:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11293/netcents-technology-disrupting-cryptoworld-and-soon-to-have-technology-in-60-countries-11293.html <![CDATA[News - NetCents Technology completes cryptocurrency integration with restaurant-focused SoftPoint ]]> https://www.proactiveinvestors.com/companies/news/208863/netcents-technology-completes-cryptocurrency-integration-with-restaurant-focused-softpoint-208863.html Online payments processor NetCents Technology Inc (CSE:NC) has completed its cyrptocurrency integration with SoftPoint LLC, which operates a management and payment system for restaurants, retailers, spas and ticketing.

The integration of NetCents into the SoftPoint platform makes it possible for thousands of merchants to accept cryptocurrency, NetCents said in a press release Tuesday.

READ: NetCents Technology draws nomination for blockchain company of year award

The companies are now working to promote the integration of merchants using SoftPoint as well as others. SoftPoint, based in Scottsdale, Arizona, predicts that it will serve more than 10,000 merchant locations by the end of 2019.

Last month, Vancouver-based NetCents said it entered a joint agreement with cryptocurrency company Verge Currency. Under the agreement, NetCents will be a vendor for Verge, which will promote the NetCents platform through social media and marketing.

Shares of NetCents Technology dropped $0.03 to $1.21 in Thursday’s trading on the Canadian Securities Exchange.

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Tue, 06 Nov 2018 10:28:00 -0500 https://www.proactiveinvestors.com/companies/news/208863/netcents-technology-completes-cryptocurrency-integration-with-restaurant-focused-softpoint-208863.html