ABOUT NETELLER

WHAT IS NETELLER?

Neteller is an e-money/e-wallet service owned by Paysafe group traded by British global payment. It makes online money transfer service secure and makes money transfer fast. With neteller you can transfer money anywhere in the world securely and can access your funds instantly from anywhere in the world. 

HISTORY

NETELLER was created in 1999 in Canada and moved to the Isle of Man in 2004. Paysafe Group Plc is listed as an "Authorised Electronic Money Institution".
In 2015, Optimal Payments Plc (now Paysafe Group Plc) finalized a transformational transaction for the global payments industry – the acquisition of Skrill Group, one of Europe’s largest online payments systems and among the world’s largest independent digital wallet providers.
NETELLER is not a bank and does not lend customers' funds. It is required under FCA e-money regulations to maintain customer funds in separate trust accounts, separate from its operating cash, sufficient to repay all customer balances at the same time.

ADVANTAGES OF NETELLER

1) Neteller makes paying online easy - even where debit and credit cards may not work. You can find thousand of online sites accepting neteller.
2) You can Send and receive money around the world instantly to anyone you like - even if they don't have a NETELLER Account. All you need are funds in your account and a recipient email. It takes only a few seconds and your money is sent instantly!
3) NETELLER is one of the most trusted online payment systems in the world. With the latest in anti-fraud tools and security features, we've got you covered 24/7.

Whether you are depositing with your credit card, a trusted bank account or using an alternative payment option, NETELLER keeps you safe.

As a UK Financial Conduct Authority (FCA) authorised company, NETELLER holds more than 100% of your account balance in trust accounts, which means your money is always there when you need it.

4) You can Enjoy great rewards and promotions when you join NETELLER. You can join Reward Points Program and earn points every time you move money in or out of your account, then redeem your points for cash!

ONLINE GAMBLING

Today Neteller is popular for online gambling payment. NETELLER began processing online gambling payments in July 2000, it was processing payments for 80% of the world's gambling merchants. 95% of the firm's revenue at that time was derived from fund transfers to online gaming firms, with most users being U.S. residents.

 

Accounts of U.S. users were frozen as the firm exited the United States, and funds were eventually returned after 30 July 2007. As a result of this enforced exit from the U.S. market, and the risks associated with online gambling, the firm has sought to diversify. Despite this, NETELLER fee revenues fell from US$ 239 million in 2006  to about $61 million in 2010.
High-turnover customers are offered premium membership called "NETELLER VIP". It includes additional features and lower fees similar to premium membership of biggest competitor Skrill.
Legal issues surrounding online gambling mean that customers in a range of countries (Albania, Cambodia, Canada, Hong Kong, Israel, Laos, Lebanon, Macau, Singapore, and Turkey) are not permitted to make transfers to gambling merchants.

Net+ card

In 2003, the company launched the NETELLER Card and a few years later in 2008 the card product line was later rebranded as Net+. Under the Net+ name the company offers MasterCard prepaid debit cards and merchant-brandable card programs, and formerly offered virtual cards. The Net+ virtual card generated a different virtual card number for each transaction instead of having a fixed card number, preventing some forms of fraud. If unauthorised users obtain and try to use card numbers, or if an otherwise legitimate merchant tries to take additional, unauthorised, payments, the transaction fails as the card number cannot be re-used. In November 2016, the company cancelled Net+ cards service without refunding the card fees.