NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) released some exciting news Wednesday that will accelerate its pace for market adoption and integration. Following on the heels of its 20th partnership announcement in February, NetCents revealed that it has signed its 40th partnership agreement.
“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.”
Doubling its partnerships in such a short period of time definitely reflects the company’s aggressive trajectory to accelerate its partner growth and keep pace with merchant adoption of crypto. It also demonstrates the increased willingness of merchants to adopt alternatives to traditional payment methods by incorporating NetCent’s cryptocurrency payment solution in-store, online and integrated into their POS systems.
NetCents has embedded its cryptocurrency merchant gateway technology within all major traditional payment sectors through its partnerships with merchant gateways, payment processors, ISO’s, ISV’s, and terminal manufacturers.
This integration not only provides NetCents with a competitive market advantage of being the default cryptocurrency payment provider for merchants, but it also gives the company access to millions of merchants, hundreds of additional partners, and a sales force that includes thousands of agents who will sell the NetCents crypto Merchant Gateway to their existing merchant base.
Moore said the company is already seeing the early success of its partner strategy come to fruition. In fact, the company has already experienced an average 95% monthly increase in merchant signups since May 2019, as well as an approximately 39% increase in processing volume every month since February.
NetCents Develops Merchant Acquisition Plan
Due to the abundance of partnership agreements being inked, NetCents has begun its Merchant Acquisition Plan (MAP) to enhance its partnership program. The goal of the plan 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, the company has brought in industry-leading veterans to develop, launch and manage MAP. The MAP team analyzes tens of thousands of businesses across North America, Australia, and Europe, ranks them against a scoring system, personalizes their outreach message by vertical or business, and launches an educational content program on market trends as well as its products and programs.
The program launched less than a week ago and the 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 and the team expects to add an additional 100-300 merchants to its outreach queue weekly.
It will be exciting to see if the company will meet its acquisition goals and how many merchants will jump onboard from now until March.
Despite its accelerated growth strategy, NetCents stock was down 10.71% by 4:00 pm EST on Wednesday.
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