NetCents Technology Enters Partnership with XTM INC.

Source: NetCents 2020-08-19

NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a cryptocurrency payments technologies company, is pleased to announce that it has entered into a partnership with XTM, Inc. (CSE: PAID) (FSE: 7XT) (“XTM“), a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world, to enable cryptocurrency payments and loading of payment cards.

Through this partnership, NetCents will be supplying the underlying technology to power cryptocurrency transactions for XTM’s card programs enabling near real time loading of funds to XTM mobile wallets. Cryptocurrency account holders can redeem the amount needed to complete an online or card transaction.

Cash payments have been declining for a long time – but the decline has been accelerated with the recent push to contactless payments. Cash payments in Canada were 54% of transactions in 2009 and now they are less than 30%.

With cash continuing to decline as a method to transact, this partnership facilitates an additional method of transferring funds to any Todaytm mobile wallet.

“Our strategic partnership with NetCents demonstrates our continuance to extend the breadth and depth of the value we offer our user base,” said Marilyn Schaffer, CEO of XTM Inc. “With the upcoming launch of our closed loop community currency solution in California, adding cryptocurrency as a method of funding the wallet fits as an innovative digital load option in our quest to dominate a cashless ecosystem.”

This partnership marks the second NetCents collaboration that leverages the Company’s deep technology base. The first collaboration on technology has been NetCents work with VISA as part of their Fast Track technology incubator.

“The Company has a dual path strategy to be both vertically integrated as a consumer facing brand as well as to develop and deploy a suite of products that can be shared within a broad crypto based ecosystem,” stated Clayton Moore, CEO of NetCents. “This strategy will allow us to continue to embed ourselves into the mature traditional payments infrastructure, and we will grow organically as Crypto becomes a larger asset class and more of a transaction medium. Embedding our tech as a back end for many systems becomes a barrier to entry for other competitors while also driving revenues, and increasing transaction flow for our market-making and exchange operations,” he concluded.

Before the bankruptcy of WireCard, it was the heir apparent to dominate the Crypto Debit Card space according to Luke Fitzpatrick of Forbes1, “The Payments industry is in transition -The bankruptcy of WireCard, the European pre-paid card business is up for grabs – and has created massive market opportunity and dislocation, large players like VISA joining the Fray by partnering with us, small Crypto players seeking to align with NetCents in order to flourish and grow – all with a forceful tailwind caused by a rally in Cryptocurrency, and global users abandoning cash as a method of payment. I know that the NEXT 6 months will be the most interesting in the history of the Company and I look forward to sharing our achievements with you when they are ready to be unveiled,” enthused Clayton Moore in conclusion.

About XTM Inc.

XTM, www.xtminc.com is a Toronto-based fintech innovator in the challenger banking space helping business and workers alike expedite earnings payout and reduce or eliminate banking fees. We are a global card issuer and payment specialist providing free technology to business to automate and expedite worker payouts that can eliminate cash. XTM integrates businesses to a payment ecosystem that is coupled with a free mobile app and debit card with free banking features. XTM drives enterprise value and creates a positive user experience.

Cryptocurrency

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financial technology

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NetCents Technology Enters Partnership with XTM INC.

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