NetCents Technology Inc. (CSE: NC), an online payment processing platform, has announced the launch of Instant Settlements, an offering intended to provide merchants with guaranteed protection against market-volatility and liquidity issues related to processing cryptocurrency transactions.
NetCents will initially offer instant settlement for Bitcoin, Ethereum, Litecoin and the NetCents Coin, a statement said, with additional cryptocurrencies expected to be added in time.
The company says Instant Settlements will allow merchants to face lower fees and experience faster processing, as well as leveraging the liquidity of “crypto-to-fiat” or “crypto-to-crypto” settlements without dealing with the price fluctuations that it says are common 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, the company said; Instant Settlements will enable cryptocurrencies to essentially mirror traditional payment methods relating to convenience and usability.
“I am proud to say 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, in a statement. “Merchants can now expand their products and services to an untapped CAD $270 billion-plus cryptocurrency market, and increase sales with ease, convenience and security.”
Consumers are offered low transaction fees, various digital payment options, fraud protection and the ability to spend their cryptocurrency on daily transactions at their go-to retailers, said the statement
“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,” Moore added. “NetCents Technology removes all liability and merchant risk of cryptocurrency transactions.”