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

There are now 387 direct merchant sign-ups in addition to merchant partners as growth accelerates, according to the company
An illustration symbolizing blockchain
Blockchain-focused NetCents says it has signed eight major partners since August

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 [email protected]

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