NetCents Technology (NC.C) reported in a press release today that they’ve pushed past the $27 million mark in transactions within their platform in 2020.
Most of the company’s growth comes from their focus on their business to business (B2B) merchant global base. More than 70% of their new clients have been B2B, and contributed an average transactions over $25,000.
“We are really excited about the B2B business as we are solving major problems in the current business climate for our clients. Additionally, the company has made significant strides in accelerating its European growth with management convening in Germany for a number of high-level meetings that will result in the opening of the first satellite office in Europe and significant business relationships to kick-start revenues. We have turned the corner as far as crypto being a respected product, and now bank executives are beginning to understand that digital currencies can provide users more security than the current financial infrastructure,” said Clayton Moore, founder and chief executive officer of NetCents Technology.
One of the company’s new B2B merchants processed more than $1 million in transactions with NetCents in its first month, starting in September.
Based on the company’s research:
- The global B2B market is worth six times more than B2C (business to consumer) market. In 2019, B2B market was valued at $12.9-trillion in transactions.
- Recent research by Forrester shows that B2B e-commerce will reach $1.8-trillion in the United States and account for 17 per cent of all B2B sales by 2023.
- B2B digital leaders drive five times more revenue growth than their peers.
- In a survey of B2B decision makers, over 80 per cent of respondents said they would prefer to use self-service tools for reordering, rather than talking to a sales representative.
- Over half of B2B companies experienced increased Web traffic since launching an on-line checkout page.
At the time of writing, NetCents is up %2.1 on the day, presently trading at $0.96.