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NetCents Technology Announces Daily Merchant Settlements

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Vancouver, British Columbia–(Newsfile Corp. – June 24, 2020) –  NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a disruptive cryptocurrency payments technologies company, is pleased to announce that it now provides daily settlements for all US-based merchants.

In 2020, NetCents management has been laser focused on streamlining and enhancing the merchant experience to continue to drive mass adoption of cryptocurrency as a payment method. Research has indicated that cryptocurrency holders have an increasing interest in being able to spend their cryptocurrency in a convenient way and through the Company’s market research, NetCents has determined that upgrading the service experience for merchants is key to gaining broader merchant adoption and therefore growing potential transactions.

Through the Company’s market research, it was identified that the largest pain point for merchant acceptance of cryptocurrency was delays in settlement time. The final lynchpin to the additions of the enhanced merchant suite are now “daily payment capability” for all US-based merchants on the platform, eliminating settlement time as a gating item from mainstream cryptocurrency payment adoption.

In February, the Company launched daily settlements for enterprise merchants processing more than $100,000 per month in cryptocurrency transactions. The trial phase of daily settlements with these enterprise merchants went extremely well, enabling the Company is now offer it to all US-based merchants. In order to scale daily settlements to all US-based merchants, the Company integrated into ACH to eliminate all costs associated with merchant payouts for both the Company and its merchants.

In addition to the ACH integration, the capability to service large-scale daily settlements comes through the recently announced a credit facility totalling 1.4 billion USD that enables NetCents’ to front-load US-based merchant settlements which is especially welcome as many of the Company’s clients are operating during significant economic uncertainty.

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“Since we migrated NetCents to a crypto-only platform we have been working diligently to overcome public perceptions that cryptocurrency isn’t trustworthy,” stated Clayton Moore, Founder and CEO of NetCents Technology. “The ability to offer daily settlements to merchants is another feather in our cap in the eyes of our merchants, as they can get their money faster. Which really increases the confidence level in our products.”

The Company’s technology is deployable across millions of terminals worldwide.

In addition to streamlining and offering daily settlements to merchants, the Company has improved the merchant experience in 2020 with these merchant gateway advancements:

  • Addition of Lightning Network as a payment method

  • Enterprise invoicing suite to support SaaS, PaaS, agencies, and B2B merchants

  • Enhanced Business Intelligence reporting

  • Expanded and streamlined merchant and onboarding support

  • Expansion of refund functionality within the merchant gateway

  • Enhancement to merchant gateway and terminal API’s for custom enterprise integrations

“We have been very busy during these times, the interest in using crypto as a payment mechanism, as well as touchless, and cashless payments has really put a spotlight on our platform both in the eyes of the end consumer, merchants, and financial intermediaries,” added Clayton Moore. “We look forward to announcing the finalization of some major developments based on these trends.”

About NetCents

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NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.

For more information, please visit the corporate website at www.net-cents.com or contact Investor Relations: [email protected].

To keep up on the latest – make sure to join the telegram channel http://t.me/NetCents

On Behalf of the Board of Directors

NetCents Technology Inc.

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“Clayton Moore”

Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 – 1021 West Hastings Street
Vancouver, BC, V6E 0C3

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Global Fintech Market Size To Worth USD 1009.10 Billion By 2033 | CAGR Of 14.01%

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Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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