The holidays are fast approaching and the elves are still busy at work – sorry if we’ve been a bit quiet lately, but we’ve had our heads down executing on all of the contracts we’ve signed in the last couple of months and rolling out some major updates to the platform.
The team has been hard at work signing and integrating our large white label and ISO partners, which combined have hundreds of thousands of merchants in their portfolios. Not only are all of these partners fully integrated and up and running with NetCents, but their merchant adoption, onboarding, and integrations are also well underway.
We are still working with a couple of our key enterprise merchants to get them up and processing. This is taking a little longer than we would have hoped, but when you are dealing with a merchant of that size, nothing happens overnight and the complexities of a transition to a newer technology of this nature are done with full due care and process.
We have all heard the chatter around the water cooler about the current ‘crypto winter’. While the chatter has been negative, we view the entire trend in the market right now as a big benefit to NetCents and what we are doing.
Through the recent decline in the price of crypto, we have not seen any negative effect on the acceptance and adoption of our platform or cryptocurrency as a method of transacting. In fact, our merchant, partner, and user uptake continue to increase now that cryptocurrency is more affordable and people are stopping holding it and are doing what it was meant to be.
Using it as a daily transactional currency!
And remember, at the end of the day, whether crypto is $100 or $1,000, we still make the same percentage of each transaction (that is based in fiat) which is not affected by the current price of crypto.
We are well on our way to realizing our goal in becoming the underlying technology for cryptocurrency payments and transactions. 2018 has been the year that we built the foundation – through upgrades to our platform, signing key merchants and partners, and embedding ourselves into the traditional payments space. We are now looking forward to 2019 to build upon the solid foundation and make our vision a reality.