NetCents Technology Inc (CSE:NC) (FRA:26N) (OTCQB:NTTCF) announced Thursday that cryptocurrency transactions within its ecosystem are continuing at a record pace.
The company said it has processed over $10,800,000 in transaction volume in the first half of March, increasing over February's volume by 61% and surpassing January volume by over 31%. This growth builds on the announced 6.7 million processed in February and 8.2 million processed in January.
"We're thrilled to continue on our 2021 growth trajectory with another record month of transaction volume, with half of the month still to go," said CEO Clayton Moore in a statement. "In building successful merchant and partner relationships and providing our customers the tools, services, and expertise that they need, we expect our growth will continue to build throughout 2021 as it has this first calendar quarter."
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The company said it attributes this sustained growth rate to a multitude of factors, including expansion from a North American to global merchant base; focus on key merchant growth verticals including B2B, luxury, retail, and gaming; integration into the traditional payments space through technology integrations and partnerships; successful omnichannel; and best-in-class technology platform that allows seamless integration into merchant payment systems.
"NetCents' strong pipeline and robust offerings signal sustained transaction growth for the foreseeable future," Moore said. "Our future growth will come from existing and new merchants as we continuously expand our market share and fueled by product innovation and the rapid increase in the adoption and use of cryptocurrency as a method of payment."
In the Merchant Gateway, NetCents said a transaction is when a consumer pays a merchant for both Instant Settlement and Manual Settlement transactions within the gateway. In the NC Exchange, a transaction is the buying or selling of a cryptocurrency with either fiat or cryptocurrency.
Transactions do not include the withdrawal of fiat or cryptocurrency funds by merchants or the deposit, withdrawal, and transfer of fiat or cryptocurrency for users.
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