The following article is sponsored by NetCents. The information contained in this article in no way represents investment advice or opinion on the part of Benzinga or its writers and is intended for informational purposes only.
In the past few months, many trends that were slowly taking off in the cryptocurrency space have accelerated and are becoming widely accepted by everyday consumers. From Fintech to AI, blockchain and cryptocurrencies, the world of international commerce is moving faster than ever.
Previous payment methods are outdated, too complicated and far too costly for merchants. That is why the future of the payment industry is shaped by digitalization. According to recent reports, by 2022, global e-commerce is expected to rise to $5.69 trillion — an expected growth of 61% over the next 3 years. Only the businesses that can quickly adapt will stay ahead of the curve.
NetCents Technology Inc. (CSE: NC) (OTCQB: NTTCF), a cryptocurrency payments technology solutions provider, equips businesses with the technology to seamlessly integrate cryptocurrency processing into its payment model without taking on the risk or volatility of the crypto market. Recently, NetCents also announced initiatives in DeFi and NFTs. Blockchain technology has already impacted the world massively, and it’s clear that things are only just getting started.
Here’s what you need to know.
The New Digital Currency Shift
The cryptocurrency was created to streamline payment processes, facilitate electronic commerce, and give people the power to control their own funds. Since the revenues generated by the payments industry are approx. $2 trillion per year, crypto will certainly be a contributor to its slated growth to $2.7 trillion in 2023.
NetCents offers clients — whether they are a merchant, a payment processor, affiliate or reseller, financial institution or bank — industry-leading cryptocurrency payment processing solutions to equip businesses with the ability to attract new customers.
The company has built its payment technology into the majority of the payment terminals that are operating today, providing direct access to over 15 million merchants globally and $1.56 trillion annually in transactions. Its goal is to convert 1% of these transactions to cryptocurrency, representing $15.57 billion in transactions annually.
NetCents eliminates the friction of transacting with cryptocurrency and offers an entire cryptocurrency ecosystem providing full payment integration, instant settlements and security while providing consumers access to over 40 million merchants worldwide.
Why Crypto Matters Right Now?
Crypto wallets have been growing at a rate of 10 million wallets per year over the past few years, and currently, there is an approximate total wallet of 50 million. In recent months crypto app downloads have spiked to 3 million per month or 81% year-on-year growth.
NetCents And Decentralized Finance
DeFi (decentralized finance) is rapidly expanding because its protocols allow users to become lenders or borrowers in a completely decentralized fashion (allowing an individual to have complete control over their funds at all times).
NetCents announced its first agreement in the decentralized finance universe with Vesto LLC to pave the way for DeFi investing on its platform.
“There is a clear need and desire by banks to offer to their merchants the ability to pay with crypto. We could not be more excited about this tech joint venture to offer the most complete combined-stacks on the planet,” said Christopher McGregor, chief executive officer and co-founder of Vesto.
By integrating DeFi with their easy-to-use platform, NetCents will empower the average consumer to take control of their finances.
The NFTs Gold Rush
What are NFTs?
As recently explained in Benzinga, a nonfungible token (NFT), is a blockchain-based tokenization of a collectible item or art piece. NFTs certify digital ownership and authenticity, stored publicly on the blockchain for quick verification.
NetCents NFT division
NetCents recently launched a division for NFTs — handling vertically integrated sales, development and management capability with its own separate capital budget.
Integrating NFTs into its already top-class cryptocurrency offerings opens a new landscape for the traditional cryptocurrency and NFT businesses so that the products work seamlessly together, pairing with the NetCents wallet, exchange platform and asset management.
With NFTs on the rise, NetCents technology will allow anyone to create and authenticate NFTs on the blockchain, so the legitimacy of a product will never be in doubt.
CEO Clayton Moore predicts the NFT will eclipse cryptocurrency in the near term. Interest from the company’s merchant base following news of this entry into the NFT space has exceeded all initial expectations.
Additional Corporate Highlights
Founded in Canada, NetCents has gained traction globally, having processed over $10.8 million in transaction volume in the first half of March 2021, and is on track to have significant growth over any other period in the company’s history. This growth builds on the announced $6.7 million processed in February and $8.2 million processed in January.
Recently, the company has received an average of 10 to 15 new partner leads weekly over the past 60 days with a close rate of 30% over the 60-day period, increasing to 40% over the month of March.
For more information, visit the company’s website.
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