Merchant Payment Platforms Now Seeing Cryptocurrency as Cash

FinancialNewsMedia.com News Commentary

PALM BEACH, Florida, April 10, 2019 /PRNewswire/ -- New merchant processing and point of sale platforms have been introduced into the market at a rapid rate over the last few years. A recent industry report said: "Money and the idea of its exchange through payments have evolved a lot from the time of its inception… Over the last decade or so, payment technologies have grown at a dizzying pace… Payments are now evolving at a rapid pace with new providers, new platforms, and new payment tools launching on a near daily basis. This shift precipitates a need for retailers to adapt toward fast, simple and secure mobile payments… It's predicted that by 2025, 75% of all transactions will be made without cash."  Cryptocurrency is one of those new methods. The same report added: "A cryptocurrency-based global payment solution would… work very differently from credit cards and other online transfers. Instead of the payment being authorized by the owner and then taken from the account by the recipient, the owner transfers the coins directly to the recipient – a "push" model, rather than an "authorize and pull" model. Cryptocurrency-based global payment solutions offer the possibility of vastly improving the speed and security of international payments while reducing transaction costs… To make the payment, of course, the owner must have enough coins in the wallet. Active Companies in the industry include NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), Fiserv, Inc. (NASDAQ:FISV), PayPal Holdings, Inc. (NASDAQ: PYPL), Pareteum Corporation (NASDAQ: TEUM), Square, Inc. (NYSE: SQ).

Cryptocurrency payments work in much the same way as cash. The owner keeps their coins in a secure digital wallet to which only he/she has the "key" – a digital signature that only the owner knows. The wallet can receive payments without being opened, but to make a payment the owner must open the wallet with the key. To make things extra safe, some wallets have multiple keys: for example, a wallet might have three digital signatures, one held by the owner, a second held by a trusted third party and a third in offline ("cold") storage. Making a B2B payment from one of these "multisig" wallets requires two or more keys, not just one. This is not unlike business checks that must be countersigned to be valid for payment.

NetCents Technology Inc. (CSE:NC) (OTCPK:NTTCF) (Frankfurt:26N) BREAKING NEWS:  NetCents Technology s pleased to announce that it has completed its integration into the NetCents Merchant Gateway and has begun processing with Surge365 LLC ("Surge365"). NetCents will also be entering into a referral agreement with Surge365, following last month's announcement.

With the integration of the NetCents Merchant Gateway into the Surge365 platform, Surge365 is able to accept and process international membership subscriptions and  transactions in cryptocurrency and will work towards offering cryptocurrency as a payout option for company residuals and bonuses, ranging between $1,000 to $1 million dollars.

Surge365 is a direct sales company that gives members access to hundreds of thousands of hotels, resorts, cruises, and all-inclusive resorts around the globe and offers their members huge discounts to sell and offer their network. Surge365 offers training and memberships for individuals to build their own home-based businesses by providing members all the tools required to act as an individual travel agency with custom branded sales portals.   Read this and more news for NetCents at:  https://www.financialnewsmedia.com/news-nc/   

Other recent developments in the tech industry include:

PayPal Holdings, Inc. (NASDAQ: PYPL) recently announced that it has joined Cambridge Blockchain, Inc's Series A funding round. With this investment, the two companies will explore potential collaborations to leverage blockchain technology.

"Our service helps streamline digital identity compliance while giving customers control over their identity data," said Matthew Commons, Cambridge Blockchain's CEO. "We are honored by PayPal's vote of confidence, and we look forward to their support and guidance."

Square, Inc. (NYSE: SQ) recently announced a first-of-its-kind partnership with Levy Restaurants and the Washington Nationals. During the 2019 season, Caviar Pickup and the new Square Terminal will make it faster and easier for fans to order and pay for their favorite food and drink from their seat without missing a pitch.

Square has partnered with the Nationals to create a concession stand that offers the only skip-the-line, order-ahead experience in the ballpark, powered by Caviar Pickup. Fans who open the Caviar app from their seats will be able to order their concessions in advance – including beer and wine for fans 21 and over – and receive an alert when their food is ready to be picked up. 

Fiserv, Inc. (NASDAQ: FISV) a leading global provider of financial services technology solutions, recently announced that one of the Mediterranean region's most innovative banks, Hellenic Bank, is furthering its digital transformation strategy with the implementation of payments technology from Fiserv. The Dovetail Payments Platform from Fiserv will enable the bank to simplify its payments architecture, operate more efficiently and offer customers new and customized capabilities.

"Our diverse client base has a range of payment needs, and over time we have added a variety of payment systems to meet those needs," said Phivos Leontiou, Chief Operating Officer, Hellenic Bank. "By moving to a centralized payments platform, we have been able to streamline our payments operations while offering the payment options customers expect. We're also able to easily add capabilities, such as support for new real-time payment schemes."

Pareteum Corporation (NASDAQ: TEUM) a rapidly growing global cloud software communications platform company with a mission to connect every person and every(thing)^TM, recently announced it launched seven new customers into production during March 2019.   This brings to 15 the total number of customers deployed into commercial service during the three months to March 31^st, 2019. The announcement caps a first quarter during which Pareteum grew its 36-month Contractual Revenue Backlog (36MCRB) of signed sales agreements to a new total of $938 million.   

Strong growth in new sales transactions reflects the recent strategic acquisitions of Artilium and iPass. These acquisitions have deepened Pareteum's capabilities and created a rich seam of cross- and up-sell opportunities with existing customers, as well as significantly expanding the overall addressable market.   

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press releases issued by NetCents Technology Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Media Contact: 
editor@financialnewsmedia.com 
+1(561)325-8757

SOURCE FinancialNewsMedia.com