Well, we’ve done it! They say hard work pays off and we couldn’t agree more. The final missing piece of the NetCents puzzle was live transactions (and revenue!). Well, we are happy to say, over the past week and a bit, we have been processing transactions with the first few merchants that we onboarded from phase 1 of our pipeline.
Since we know that you’re curious about these things, and you have every right to be, we thought that we would give you a quick update as to where things currently stand.
Everything went as smoothly as we could have hoped over the past nine days. And even more exciting, if that’s even possible, is the transaction growth rate we’ve achieved. We went from processing one transaction every 72 minutes over the first weekend and that has increased to one transaction every five minutes by Wednesday. Let that sink in for a moment. That is an increase of 1,340% in just five days without an increase in the number of merchants.
This transaction volume is just the beginning. With the over 7,000 merchants through our contract with Aliant and the other 73,000 we have access to through our other current signed contracts, not to mention new contracts that we are working on, that math adds up fast. One second, we’re going to strike oil!
Last week, we announced the launch of Instant Settlements. This is our process that locks in the exchange rate for merchants, guaranteeing them protection against crypto market-volatility and liquidity issues. This has been the #1 objection that we heard from merchants. And we’ve solved that. We have made it so that merchants can be indifferent to the form of payment they receive, be it fiat or crypto.
Well, every single transaction that we have processed to date has been completed using our Instant Settlements process. We have proved in a live environment with a greatly increasing transaction volume, that this process works and it works seamlessly within our Merchant Gateway.
If this isn’t a brilliant way to start off a week, we don’t know what is. NetCents now provides the entire package. From eWallet, to exchange, to a fully-integrated and complete payment processing solution for merchants. We are set to become the backbone of cryptocurrency processing worldwide.
Oh, oh, sometimes, I get a good feeling, yeah!
PS. A little music to get you into our Monday state of mind.