NetCents this week launched Instant Settlements, a service providing merchants guaranteed protection against the market-volatility and liquidity associated with processing cryptocurrency transactions.
Volatility and merchant risk prevent cryptocurrencies from becoming mainstream and being used for everyday payment. NetCents will initially offer instant settlement for Bitcoin, Ethereum, Litecoin and the NetCents coin. Additional cryptocurrencies will be added over time.
Despite the technological advances cryptocurrencies provides for payment processing, exposure to crypto-market volatility has deterred merchants from accepting cryptocurrencies from a growing segment, the holders of these cryptocurrencies. Through Instant Settlements, merchants will now be able to take advantage of all the benefits of lower fees, faster processing, and leverage the liquidity of ‘crypto-to-fiat or crypto-to-crypto’ settlement without being exposed to the risks or the price fluctuations inherent with cryptocurrencies.
With the NetCents Merchant Gateway, volatility within the price of digital currencies such as Bitcoin, Ether, or Litecoin will have no impact on the merchants. It enables cryptocurrencies to, in essence, mirror traditional payment methods in convenience and usability. Merchants will be in a secure position to ultimately be indifferent to the form payment used by their customers, be it traditional or crypto currency.
“I am proud to say that we have broken the largest objection to cryptocurrency processing with absolutely zero currency risk to the merchant. This is a game-changer for the cryptocurrency payments industry,” said Clayton Moore, CEO of NetCents Technology. “Through this development, merchants can now expand their products and services to an untapped $270 billion-plus cryptocurrency market, increase sales with ease, convenience and security. Cryptocurrency’s promise was always one day.
“NetCents has made it today.”
In addition to the economic benefits of integrating digital payments with NetCents Technology as a partner, merchants and payment processors will also benefit from being an industry leader in blockchain technology adoption. This development further streamlines merchant processing and consumer payments into one secure frictionless process. Consumers benefit from lower transaction fees, a variety of digital payment options, fraud protection, and freedom to spend their cryptocurrency on everyday transactions at their favourite retailers.
Over the last year, NetCents introduced the various pieces to its product offering to become the backbone of crypto processing worldwide. Unlike other companies in the space, NetCents has adopted a strategy to partner with leading merchant acquirers and payment processors to rapidly grow its user base.
Today’s announcement of Instant Settlements was the last missing piece to allowing mass adoption and use of cryptocurrencies. NetCents has positioned itself to be at the epicenter of this crypto revolution.
“Our technology is the missing puzzle piece that provides a stepping stone for emerging and existing companies to evolve with little to no risk to their current business and payment model,” added Clayton Moore. “With our risk-free platform, merchants and payment processors will be able to accept these next-generation cryptocurrencies while behind-the-scenes, seamlessly and instantly settle of the purchase amount in the local fiat or digital currency of their choice. NetCents Technology removes all liability and merchant risk of cryptocurrency transactions.”