Under the deal’s terms, Obanc, a Florida-based payments consulting firm, will resell the NetCents cryptocurrency merchant gateway to its network of merchants. NetCents, in turn, will earn a percentage on each cryptocurrency transaction, which is processed by Obanc’s clients.
“Obanc is pleased to partner with NetCents to introduce cryptocurrency payments to both new and existing e-commerce customers,” noted Wayne Orkin, president of Obanc.
Clayton Moore, CEO of NetCents, was similarly bullish on the partnership and remarked that the tie-up could crack the door open for other opportunities on top of cryptocurrency processing.
“In addition to providing cryptocurrency processing to their client base, Obanc has multiple touch points and provides their clients with more than payment processing, which could open the door for other opportunities,” Moore said in a statement.
NetCents is an online payment processor that specializes in capturing the migration from cash to digital currency by using blockchain technology.
Headquartered in Vancouver, the company, which is best-known for its cryptocurrency payments infrastructure, offers a platform that allows clients and merchants to manage electronic payments through an array of devices and currencies.
NetCents shares traded 4.4% higher to hit C$0.94 in Wednesday’s afternoon trading session.
Contact Ellen Kelleher at [email protected]