NetCents Technology Inc. (CSE: NC) (“NetCents” or the “Company”) are pleased to announce that it has entered into a letter of intent with The Hillcore Group (“Hillcore”) for the licensing of the NetCents’ Digital Payment Platform.
The Agreement extends NetCents’ global reach by leveraging Hillcore’s demonstrated expertise in creating value through efficient transaction structures and the efficient structuring and deployment of intellectual property.
“This alignment with Hillcore will allow the company’s platform to be utilized in international markets that currently process an estimated 1.5 billion transactions per year valued in excess of $46 Billion. Once the License has been finalized, Hillcore expects to be able to rapidly deploy the platform internationally,” said Clayton Moore CEO & Founder NetCents Technology Inc. Moore went onto say, “Having spent four years in this sector, and now combined with Hillcore, I believe rapid market adoption is inevitable.”
“NetCents has developed an incredibly robust and complete payment processing platform. We are delighted to have the opportunity to license the technology and deploy it internationally,” commented Jean-Marc Bougie, CEO of the Hillcore Group.
Moore further added, “A licensing agreement with Hillcore will provide great value for our shareholders as in addition to receiving an ongoing licensing fee, NetCents will earn a percentage of transaction revenues earned by the licensee.”
NetCents recently completed its’ Merchant API which will allow the platform to quickly expand into the international market place and be available across a multitude of sectors. The Hillcore Group and NetCents Technology Inc. will be well poised to roll out the API internationally.
To note: the Company has appointed Daniel Goldman as interim CFO, replacing Ryan Cheung.
About Hillcore Group
The Hillcore Group is a leading independent Canadian investment and advisory firm with offices in Toronto, Vancouver, Calgary and Montreal. Entities under the Hillcore Group’s management have an asset value in excess of $4.4 billion, as of December 31, 2015. Since 2005, Hillcore has completed acquisitions, directly or indirectly through their investment funds, with an aggregate asset value in excess of $7.2 billion, including $710 million in 2015 alone.
NetCents is an online payments platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. 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 newly designed website will enhance the users online experience, granting them the freedom and convenience to Pay. Your Way.™