VANCOUVER, BC / ACCESSWIRE / March 21, 2016 / NetCents Technology Inc. (CSE: NC) ("NetCents" or the "Company") is very pleased to announce that it has signed a services agreement (a non-binding LOI) with an international remittance company that will generate an estimated $8.8 million per year in remittances as well as an estimated 35,000 users to the NetCents platform.
This strategic agreement focuses on uploading an existing 35,000 users to NetCents through a white-labeled solution that is "Powered by NetCents," this agreement will focus on the transferring and/or remitting of monies/digital currencies both from and between the following countries/jurisdictions: the United Kingdom, Hong Kong, and the Philippines.
The global remittance market is one area that NetCents believes is currently being underserved by existing providers. Total remittances in 2014 reached $583 billion USD, and are expected to reach an estimated $610 billion this year and $636 billion by 2017 (source; World Bank Remittance Inflows April 2015 data). The Company recognized an opportunity to meet and fill these needs.
"To achieve our growth and revenue targets, we need to look both domestically and internationally. This agreement is the first step towards that process," said Clayton Moore, CEO and Founder of NetCents. "We will continue to work with global companies in a variety of business strategies and structures, as this move allows the Company to enhance its platform and capitalize on opportunities."
About NetCents
NetCents is an online payments platform, offering consumers and merchants online services for managing electronic payments. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online. NetCents technology is integrated into the Automated Clearing House ("ACH"), which ensures our consumer's security and privacy. This services agreement allows the Company to accept and transfer deposits from users in 24 countries, enhancing the users online experience, granting them the freedom and convenience to Pay. Your Way. ™
Further information about the Company it is available under its profile on the SEDAR website,www.sedar.com, on the CSE website www.thecse.com, on our website www.netcents.biz or contact Robert Meister, Capital Markets at Ph: 604.676.5248 or email: Robert.meister@net-cents.com.
On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, Founder/CEO
NetCents Technology Inc.
Suite 1500, 885 West Georgia Street
Vancouver, British Columbia V6C 3E8
The Canadian Securities Exchange has neither approved nor disapproved of the contents of this press release. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This release includes certain statements that may be deemed "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. 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.
SOURCE: NetCents Technology Inc.
