VANCOUVER, Nov. 23, 2012 /PRNewswire/ - On4 Communications, Inc. ("On4") (OTCQB: ONCI) is pleased to announce that NetCents Systems Ltd. ("NetCents") through its partnerships with banking institutions in Canada and the US, has begun integrating its is proprietary online payment system with the US banking system to process online payments in the United States of America.
Online transactions are growing exponentially in the US. It is expected by the year 2013 there will be over 268 billion online transactions annually. In the most recent report by comScore, Inc., in the first quarter of 2011, US retail e-commerce exceeded $38 billion. Alternative payment methods are becoming the preferred method of payment for online consumers and merchants. It is anticipate that within the next five years, alternative payment methods will account for over one-third of all online retail transactions. NetCents is an alternative payment system that provides its customers and merchants with every form of online payment option with two major benefits: transaction privacy and two-way real time transaction processing. The features of the NetCents system are highlighted below:
- Simple and seamless for the merchant to implement
- Simple for the consumer to set up and use
- Recurring payment processing ability
- Complete anonymity that is 100% secure from identity theft
- Rapid payment transfer times
- Email deposit notification
- Accessible for users who do not have an active credit card
- Low cost for both the merchant and the consumer
About On4 On4 Communications, Inc. is a development stage company focused on wireless and online payment technologies. On4 is actively looking for acquisitions and merger opportunities within these industries. On4 has identified NetCents Systems Ltd., ( www.net-cents.com), a technology company that is on the verge of establishing itself as a global contender in the online payment industry. On4 has a signed agreement in place with NetCents and will be facilitating the global rollout of the NetCents platform. On December 15, 2011 On4 entered into a definitive Share Exchange Agreement with NetCents Systems Ltd. ("NetCents") where at closing On4 will acquire 100% of the issued and outstanding shares of NetCents and NetCents will become a wholly owned subsidiary of On4. The Company is a Development Stage Company, as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 915, Development Stage Entities, and has not yet generated significant revenues from their intended business activities.
About NetCents NetCents is an integrated, international financial transaction hub that delivers a 100% secure, self-administered and anonymous payment system developed for the purpose of making safe online purchases and money transfers. The NetCents technology is simple, innovative and works in harmony with existing banking platforms. Triggered by a valid email address, it provides a real-time, two-way flow of funds over the web while protecting users from identity theft or credit card fraud and can significantly reduce transaction costs for Merchants and consumers. NetCents provides the merchant with the means to connect with all consumers whether or not they hold direct access to a credit card. This payment option for consumers and merchants provides peace-of-mind with no fear of identity theft or credit card fraud.Forward-Looking Statements Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See ON4's filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. SOURCE On4 Communications, Inc.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV