NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) announced Wednesday that it is accelerating its pace for market adoption and integration through the sign on of its 40th partnership agreement.
Doubling its number of partnerships in just over six months reflects NetCent’s aggressive trajectory to accelerate its partner growth and keep pace with merchant adoption of cryptocurrency. It also demonstrates the increased willingness of merchants to adopt traditional payment alternatives by incorporating NetCent’s payment solution in-store, online, and within their POS systems.
“This accelerated partner growth continues to validate our business model and the future of the Company,” said NetCents founder and CEO Clayton Moore. “Whereas in 2018 and early 2019, we needed to actively sell our partners on the advantages of NetCents, we are now having major players in the payments space actively seek us out to allow them to offer cryptocurrency by embedding our Merchant Gateway within their technology, providing merchants a seamless experience and onboarding process for cryptocurrency payments.”
NetCents has embedded its cryptocurrency merchant gateway technology within all major traditional payment sectors through its partnerships with payment processors, merchant gateways, ISO’s, ISV’s, and terminal manufacturers.
This integration provides NetCents with a competitive market advantage of being the default cryptocurrency payment provider for merchants and also gives the company access to hundreds of additional partners, millions of merchants, and a sales force of thousands of agents who will sell the NetCents crypto Merchant Gateway to their existing merchant base.
Moore explained that the company is already seeing the early success of its partnership strategy come to fruition. In fact, NetCents signed on more merchants in the first week of September than it did in the entire month of May and has already experienced an average 95% monthly increase in merchant signups since May 2019, as well as a 39% increase in processing volume every month since February.
NetCents Develops Merchant Acquisition Plan to Enhance Partnership Program
NetCents also announced that it has begun its Merchant Acquisition Plan (MAP) to enhance its partnership program and keep up with the abundance of partnership agreements being inked. The goal of MAP is to add 15 enterprise merchant that process over $20 million USD per year in sales, with a monthly baseline of $100,000 cryptocurrency transactions.
To ensure its success, NetCents has assembled a team of industry-leading veterans to develop, launch and manage MAP. The team is focused on analyzing tens of thousands of businesses across North America, Australia, and Europe, ranking them against a scoring system, personalizing their outreach message by vertical or business, and launching an educational content program on market trends as well as the company’s products and programs.
Although the program launched less than a week ago, the MAP team has already reached out to 287 merchants who fit the selection criteria, with an initial 26% engagement rate. The campaign will continue to run through March 2020. During that time, the team expects to add an additional 100-300 merchants to its outreach queue on a weekly basis.
It will be exciting to see how many merchants will jump onboard from now until March and if the company will meet its acquisition goals.
Despite its accelerated growth strategy and partnership success, NetCents share price was down 10.71% by 4:00 pm EST on Wednesday.
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