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NetCents Technology Provides Key Performance Indicators Update

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Vancouver, British Columbia–(Newsfile Corp. – March 1, 2023) – NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTC: NTTCF) (“NetCents” or the “Company“), a cryptocurrency payments company, updates investors on its key performance indicators and its 2021 annual audit.

Despite the past several months of turbulence in the Cryptocurrency industry, NetCents is pleased to share our solid performance from our ongoing marketing and sales efforts.

Growth in Key Performance Indicators

  • Greater than a 500% increase in revenue in fiscal 2022 over fiscal 2020[1], from CAD$ 271,492 in 2020 (audited) to over CAD$ 1.8 Million in fiscal 2022 (unaudited).
  • Merchant processing exceeds USD 50 million in 2022[2] an increase of over 400%.
  • 250% increase in merchants signed up for the platform.
  • Worldwide reach. Merchants transacting in over 40 countries.
  • The average merchant transaction size grew 10 fold from USD$ 391 in 2020 to USD$ 4,500 in 2022.

The Company’s growth continued into 2023, with the first two months processing volume increasing by 73% over the same period in fiscal 2022. The successful growth in all key performance indicators is a testament to the Company’s leadership, strategy, and execution.

The Company has firmly established its business presence in North America, Europe, and the Middle East, with a workforce within each region. The most recent with the successful expansion into the United Arab Emirates, which included PSP Licensing, Central Bank Approval, team development and successful merchant marketing. This new expansion process can now be replicated in new regions. While the teams continue to service their regions, the management team will now replicate the model by positioning resources for expansion into Eastern Europe and South America.

Regarding the 2021 annual audit, additional time is required to permit the Company to complete procedures and enquiries in connection with the audit and the annual financial statements. The Company appreciates the continued support we are getting from our shareholders, merchants and partners and looks forward to the completion of this process.

As of today, the Company continues to be subject to a cease trade order and is working diligently to complete the annual financial statements for the fiscal year ending October 31, 2021, and the fiscal year ending October 31, 2022.

About Us
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 at [email protected].

On Behalf of the Board of Directors

NetCents Technology Inc.

“Clayton Moore”

Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
9th floor – 1021 W. Hastings Street
Vancouver, BC V6C 2R6

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable Canadian securities laws (“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 including without limitation, timing of finalizing and filing of the Company’s financial statements, expected growth and success of the Company. 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.


[1] Unaudited 2022 revenue numbers
[2] Unaudited 2022 transaction numbers

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156735

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

Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets

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Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.

The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.

Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.

As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.

Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.

Source: blockchain.news

The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.

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Blockchain

Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak

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existing-blockchains-can’t-adopt-post-quantum-cryptography-without-significant-user-impact,-says-johann-polecsak

Johann Polecsak argues that existing blockchains face significant challenges in adopting post-quantum cryptography without causing substantial disruption to users. This assessment highlights the complex and multifaceted nature of transitioning to new cryptographic standards in blockchain networks.

Post-quantum cryptography refers to cryptographic algorithms that are resistant to attacks from quantum computers, which have the potential to break traditional cryptographic schemes. While post-quantum cryptography offers enhanced security, implementing it in existing blockchain networks poses technical, operational, and usability challenges.

Polecsak suggests that transitioning to post-quantum cryptography could require significant changes to blockchain protocols, consensus mechanisms, and user interfaces. These changes may disrupt existing workflows, require modifications to software and hardware infrastructure, and necessitate coordination among network participants.

Furthermore, Polecsak emphasizes the importance of ensuring backward compatibility and interoperability during the transition to post-quantum cryptography. This is crucial to prevent fragmentation of the blockchain ecosystem and maintain continuity for users and applications.

Polecsak’s assessment underscores the complexities and trade-offs involved in adopting post-quantum cryptography in existing blockchain networks. While the transition promises improved security against quantum threats, it requires careful planning, coordination, and investment to minimize disruption and ensure a smooth transition for users and stakeholders. As the field of post-quantum cryptography continues to evolve, blockchain projects will need to carefully evaluate their options and strategies for implementing these new cryptographic standards.

Source: news.bitcoin.com

The post Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak appeared first on HIPTHER Alerts.

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Blockchain

Tech Trends Shaping Retail: From AI to Blockchain

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Various technology trends are discussed that are shaping the retail industry, from artificial intelligence (AI) to blockchain. These trends are driving significant changes in how retailers operate and engage with customers, offering new opportunities for innovation and growth.

Artificial intelligence (AI) is highlighted as a key technology trend that is revolutionizing various aspects of the retail industry. AI-powered solutions enable retailers to analyze vast amounts of data, personalize customer experiences, optimize supply chain operations, and enhance decision-making processes. From chatbots and virtual assistants to predictive analytics and recommendation engines, AI is enabling retailers to deliver more personalized and efficient services to their customers.

Blockchain technology is another trend shaping the retail industry, offering benefits such as enhanced transparency, security, and traceability in supply chains and transactions. By leveraging blockchain, retailers can improve inventory management, streamline payments, prevent counterfeit products, and enhance trust and accountability throughout the supply chain. Additionally, blockchain enables retailers to create decentralized marketplaces and loyalty programs, providing new opportunities for customer engagement and loyalty.

Other technology trends discussed in the article include augmented reality (AR) and virtual reality (VR), which are transforming the way consumers shop and interact with products online and in-store. By enabling immersive shopping experiences, AR and VR technologies allow retailers to showcase products more effectively, reduce returns, and increase customer engagement and satisfaction.

Technology trends such as AI, blockchain, AR, and VR are reshaping the retail landscape, driving innovation, and enabling retailers to meet the evolving needs and expectations of consumers in an increasingly digital world. As retailers continue to embrace these technologies, they are poised to unlock new opportunities for growth and differentiation in the competitive retail market.

Source: 365retail.co.uk

The post Tech Trends Shaping Retail: From AI to Blockchain appeared first on HIPTHER Alerts.

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