Neteller

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Paysafe Financial Services Limited

logo
legal form Limited
founding 1999
Seat Cambridge United KingdomUnited KingdomUnited Kingdom 
management Joel Leonoff
Branch Payment services
Website Neteller.com

The company Paysafe Financial Services Limited , based in Cambridge operates under the brand Neteller payment services, which allows Internet payments. Neteller is regulated as an e-money institute and belongs to the Paysafe group (formerly Optimal Payments ). According to the company, customers from around 200 countries use Neteller to transfer or receive money to dealers. The available balance can be withdrawn with the NET + MasterCard or paid out to a registered bank account.

background

Neteller was originally founded in Canada in 1999 before relocating to the UK in 2004 (initially to the Isle of Man). The company formed the core of what would later become the Paysafe Group. In early 2015, the merger with Skrill, its largest competitor at the time, was announced. This merger led to Paysafe becoming one of the largest payment service providers in the eWallet sector.

The Paysafe Group is run as an Authorized Electronic Financial Institution.

Gambling

Neteller was originally focused on processing payments to gaming providers. About 80% of the larger providers used the Neteller service and almost 95% of the sales at that time came from transfers to gaming providers, mainly in the USA. In January 2007, two company executives were arrested and charged with money laundering for illegal gambling in the US, and Neteller was forced to withdraw from the US market, causing a sharp drop in sales and profits. Billed fee revenue decreased from $ 239 million in 2006 to $ 61 million in 2010. In June 2019, Neteller withdrew from the US market.

Products and opportunities

In contrast to PayPal, Neteller does not have a banking license. Customers can use their previously paid-in credit. Customers can choose between 26 currencies for their account. Available currencies are AED, AUD, BGN, BRL, CAD, CHF, DKK, EUR, GBP, HUF, INR, JPY, MAD, MXN, MYR, NGN, NOK, PLN, RON, RUB, SEK, SGD, TND, TWD , USD, and ZAR. For customers with a high transfer volume, the company offers a VIP system with discounts and bonuses. Similar to what is offered by Skrill , customers have the option of lowering their fees and increasing limits when they advance to the corresponding VIP levels. In addition, VIP customers collect points for transfers that can be exchanged for vouchers or cash prizes in the in-house VIP shop.

The account can be topped up, for example, by bank transfer, credit card, Bitcoin , Skrill, Paysafecard (not available in Germany), POLi, Moneta.ru and other payment options. The available deposit options may not be available to all depending on your country and some options may incur fees. The credit can be used for payments to various merchants and for transfers to other customers of the company. The money is usually available immediately. In addition, the NET + MasterCard can be used to make purchases wherever Mastercard is accepted. Payments can be made via bank transfer, check or with the NET + MasterCard, with which money can be withdrawn from almost all machines worldwide.

Net + Card

NET + Card

The Neteller Card was launched in 2003 and was renamed NET + Card in 2008. Customers can also have a NET + virtual credit card . This is a non-physical card that can only be used for online purchases and that generates a new card number for each transaction. This is intended to ensure an increased level of security and limit the possibility of card misuse.

Similar providers

Web links

Individual evidence

  1. Optimal Payments (NETELLER) to purchase Skrill . Retrieved March 31, 2015.
  2. oath statement by the FBI as an opportunity for the prosecution of Stephen Lawrence , January 16, 2007 Retrieved on November 24, 2016 (pdf)
  3. The Independent: Online purge sees NETeller chiefs arrested in US , January 17, 2007, accessed on November 24, 2016 (English)
  4. Christopher Hunt, Poker News - NETELLER Begins Long-Awaited Payout Plan . PokerListings. July 29, 2007. Accessed March 31, 2015.
  5. VipDeposits: Neteller Exits US Market . May 6, 2019. Retrieved August 30, 2019.
  6. ewallets - General Information and details . Retrieved August 3, 2019.
  7. Neteller launches virtual pre-paid card . Finextra . October 21, 2008. Retrieved April 1, 2015.
  8. Net + Prepaid Card Review . Retrieved April 1, 2015.