Cryptocurrencies have only just begun to disrupt the $1.9 trillion payments industry, creating sizable opportunity for NetCents Technology Inc. (STOCK:NTTCF).(1)
Visa and NetCents Technology Inc. (STOCK:NTTCF), for example, just introduced the NetCents Visa credit card.(2)
The co-branded card enables crypto currency wallet holders and traders a real-time seamless purchasing power using crypto currencies for in-store and online transactions with the more than 40 million merchants that accept Visa worldwide.
In addition, Visa just announced:
“We’re reshaping how money moves across the globe, and that means pursuing a broad array of technologies and partnerships. In that regard, digital currencies offer an exciting avenue for us to continue doing what we do best: expanding our network-of-networks to support new forms of commerce.”
“Visa has been working closely with licensed and regulated digital currency platforms like Coinbase and Fold to provide a bridge between digital currencies and our existing global network of 61 million merchants. Around the world, more than 25 digital currency wallets have linked their services to Visa, giving users an easy way to spend from their digital currency balance using a Visa debit or prepaid credential — anywhere Visa is accepted,” they added.(3)
Plus, according to Mastercard:
“Consumer interest and investment in digital currencies are growing, with research showing that up to 20 percent of the population of some countries are holding cryptocurrencies, and an increasing number of merchants, digital players and financial institutions are exploring crypto payments.”(4)
Mastercard also just accelerated its cryptocurrency card program.
“Aiding adoption and creating innovative experiences in the crypto space, Mastercard today announced the expansion of its cryptocurrency program, making it simpler and faster for partners to bring secure, compliant payment cards to market,” the company added.(4)
Better, the list of retailers accepting cryptocurrency is only growing. In fact, a third of small businesses accept cryptocurrency payments, according to a recent HSB nationwide survey.(5)
That list is only likely to get longer.
In addition, PayPal is reportedly dabbling in cryptocurrencies, which could lead to greater adoption and make it a mainstream payment option. In fact, in a letter to the European Commission, PayPal has confirmed its interest in cryptocurrency.(6)
NetCents Technology is a transactional hub for all cryptocurrency payments, equipping businesses with the technology to integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market.
“Our efforts have strategically positioned NetCents for mass adoption as more and more merchants become interested in accepting cryptocurrency for payments. We have positioned ourselves to be the default solution for these market participants,” says Founder and CEO Clayton Moore. “This unique approach provides what we think is a clear advantage over other solutions; we have earned the credibility to be the incumbent in the payment space for cryptocurrency.”
What sets NetCents Technology apart from the competition is its relationship with Visa.
NetCents Visa will allow its users to spend up to three separate cryptocurrencies on the card.
Using any of its instant settlement clients such as Bitcoin, Lightcoin, Ethereum, BitCoin Cash and Ripple, the user will be able to pair to their credit card and will be asked at sign-up to rank them in priority order.
“If they’re doing a $1,000 transaction, we can do partial settlement against all three coins in a single transaction.,” says Moore. “According to Visa they are not aware of anyone else doing that.” Additionally, since the coin stays in the user’s crypto wallet, there is no risk of financial loss caused by losing the physical card.
Beyond the obvious branding benefits, the arrangement bodes well for NetCents, firstly for a wealth data and secondly NetCents now deals directly with Visa rather than through its other partnerships.
One of the big problems with the credit card and merchant payment industry adoption is the limited dataset that the vendor has to work with.
“What we’re going to get is unfettered access,” says Moore. “If there are no limiting factors on where you can spend your crypto currencies, where do users want to spend it? We’ll have all that first party data that we’ll be able segment into specific merchant, whether its United Airlines or Starbucks. We can now reach out to them directly, informing them we did $5 million in transactions via crypto that they were not aware of, and that was just a small percentage of users.”
The card is arriving on the scene at exactly the right time, research shows that crypto investors are increasingly becoming interested in seeking ways to transact with their crypto, rather than just hold them as a store of wealth. The market is maturing as well – there are about 50 million crypto wallets in use globally, and that number is increasing by 10 million wallets a year – any rally in crypto will cause the growth rate spike as well.
It’s also providing exchange services combined with a payment platform that allows for digital touchless payments in retail environments and e-commerce payment technology.
It’s providing merchant processing to retailers.
It’s providing a commercial banking infrastructure for global banks that wish to service their clientele that desire to deposit and trade cryptocurrency.
It’s providing invoicing and payment technology to SaaS and PaaS companies (Software-as-a-Service, Platform-as-a-Service).
And it recently began working on its first “fixed-income” product with Link Global – creating investment opportunities that pay periodic income payments far exceeding “bank” savings products. According to Moore:
“We are building out NetCents to have attractive revenue streams based on the adoption of digital currencies worldwide – we make attractive margins on every transaction and aren’t dependent on any specific underlying cryptocurrency to make money – we will make more money as more and more wallets are created. More business clients elect to use our systems.”
“We are confident that we have positioned the Company for success, and that success just might be coming a little more quickly because of many converging world events.”
In addition, the company is further enhancing its cryptocurrency merchant gateway with an entirely new customer base.
NetCents is introducing a recurring billing solution, further providing a complete merchant and user experience to cryptocurrency payments.
This new product suite is ideally suited to Software-as-a-Service (SaaS) platforms, and Platform-as-a-Service (PaaS) customers. These types of Companies currently generate over $200 billion in transactions annually, and that number is growing at 17.5% annually. It is only logical that their customers would be interested in a crypto payment solution for these expenses.
“As part of our 2020 focus to provide a complete merchant experience, we have launched daily settlements, initiated the integration of the Lightning Network, and now are introducing a full-service Invoicing Suite,” added Moore. “The ability to service rapidly growing monthly subscription platforms along with traditional call centres and B2B agencies positions us to capture new market share, greatly increasing our monthly transaction volume through recurring payments.”
The company’s geographic footprint is expanding, too.
That includes Asia.
NetCents has targeted opportunities in Asia due to the deeper penetration of cryptocurrency within the Asian financial infrastructure than is found in North America or Europe. For NetCents to monetize its technologies fully, it needs significant representation in the Asian market.
That includes Europe.
The company just announced that it’s forming a new subsidiary in Germany to support its growing business throughout Europe.
“We have created a lot of momentum with our efforts to create business opportunities in the European market,” added Moore. “With the recent additions of additional European financial executives to our advisory board, we believe that we will only accelerate momentum from here. With a defined resource on the continent – it will make growth in Europe easier to manage. Our team will be multi-lingual, and this addition to our footprint will make it easier to pay merchants in Euro in a timely and efficient way.”
“A large part of our investor and business base is already in Europe, and the climate towards adoption is much more favorable across many business verticals in the European market. It only makes sense that we invest in initiatives that are already generating success for us as a Company. I look forward to growing our European business aggressively.”
That also includes the United States.
NetCents Technology also just announced it will be adding the United States to its NetCents Cryptocurrency Credit Card Program.
Given the interest in and technical development work that has been completed for its Canadian Cryptocurrency Credit Card program and prelaunch interest from US-based cryptocurrency holders to receive a NetCents Cryptocurrency Credit Card, the Company has made the decision to concurrently launch the program in Canada and the United States.
By including the United States to the card program prior to launch, the Company is able to streamline the technical development, management, and rollout of the program while increasing the potential card program userbase tenfold.
“This is a massive leap forward for us, what we are building represents the most seamless bridge between the $200+ billion Cryptocurrency asset class, and all of the merchants that accept credit cards,” said Moore. “We look forward to finishing our development work and rolling out our breakthrough payment products soon.”
When evaluating the potential for any cryptocurrency investment, it’s important to examine the quality of the company’s management.
Founder and CEO
Clayton is an entrepreneur with over 15 years’ of industry-leading experience in the payments space. In 2003, Clayton founded Cybux, a payment platform focusing on the service industry – a gift card platform that is still being used today in many top Canadian restaurants and chains. In 2006, Clayton sold Cybux and founded NetCents. NetCents was founded on Clayton’s belief that the payment industry was ripe for disruption.
Chief Revenue Officer
Jenn is an award-winning strategist with over 12 years’ experience in corporate and campaign strategy at top agencies in North America working with a range of clients from local bricks and mortar businesses to major Fortune 500 clients. As Chief Revenue Officer of NetCents Technology, Jenn conceptualizes and manages innovative strategies and campaigns to drive partner acquisition, revenue, user growth, and brand awareness for NetCents.
Chief Technology Officer
Mehdi is an entrepreneur and brings over 20 years of IT experience to NetCents team. Having worked with a diverse field of companies, from start-ups to Fortune 50 companies. In 2000, Mehdi started Globalsys, an IT Solution services agency focusing on assisting companies with their IT needs from custom coded applications to complete infrastructure planning and setup.
SVP Strategic Development
Patrick (“Pat”) Albright is focused on the development and roll-out of high growth development initiatives. Pat has successfully accomplished this within Fortune 250 companies as well as with start-up ventures for over 20+ years. Several initiatives exist to the present time, including the launch of the first convenience-based payment pricing model for the higher education and insurance verticals, and the successful creation of partnerships in numerous strategic verticals Pat became a certified financial advisor in 2019 with licensing in investments and insurance to help round out his overall capabilities in the financial institutions space.
Board of Advisors
Mr. Eigenmann is a founder and the President of the Board of Directors for Iko Capital AG, a leading Wealth Management firm based in Zug, Switzerland. In his role at Iko Capital AG, Mr. Eigenmann is responsible for compliance with FINMA, the Swiss Financial Market Supervisory Authority, as well as regular review of their portfolio for money laundering and compliance within the investment guidelines of managed accounts for ultra-high net worth individuals (UHNWI).
Prior to founding Iko Capital AG, Mr. Eigenmann was the Executive Director of DE Investment and Consulting AG until its acquisition. As part of Mr. Eigenmann’s 36-year career in the financial markets, Mr. Eigenmann held the position of Vice President of Investment Banking at UBS Zurich and St. Moritz for 15-years as well as Vice President of Wealth Management at Liechtensteinishce Ladesbank Vaduz.
Board of Advisors
Mr. Wang has 30-years of venture capital and private equity investment, executive management, and consulting experience in the broader information and technology industry as well as resource, energy, and cleantech industries, in China, Canada, and Japan. Mr. Wang has been a Managing Partner of NewMargin Ventures and Ceyuan Ventures, prominent private equity funds management companies in China, for over ten years.
Prior, Mr. Wang was involved in managing US dollar-based investment funds, including a 100 million USD VC funds and a 300 million USD growth funds investing in Chinese internet and technology companies, such as PPStream (acquired by IQIYI), Kugou (acquired by Tencent Music), Xunlei, UCWeb (acquired by Alibaba), as well as gold mining companies including Pretium Resources.
Board of Advisors
Mr. Genko brings a breadth and depth of technical knowledge to the advisory board having been heavily involved in the blockchain and cryptocurrency space since 2013. During this time, he has served as the CTO and technology advisor for multiple firms developing smart contracts, multi-currency debit cards, government regulation, exchange platforms, cryptocurrency investment funds, and PCI certification and compliance, as well as end-to-end development and management of large-scale IT infrastructure projects.
Prior, Mr. Genko lead data management, business intelligence, and innovation projects for the banking, financial services, and insurance sectors including Credit Suisse and Allianz Global Assistance. Mr. Genko spearheaded innovation projects for Swiss Mobiliar, streamlining their product offerings and developing the process and tools to identify upcoming trends and solutions to keep firms product offering ahead of the curve.
There are plenty of reasons to pay close attention to NetCents Technology (STOCK:NTTCF).