Neteller

Digital money service for secure payments and money transfer

Money is the most commonly used store of value as it can be saved, retrieved and exchanged. Other than money there are other stores of value such as real estate, livestock, precious metal and stones, stored-value cards and cryptocurrencies. Due to the advent of Internet, trading and shopping have become online. Payments of those purchases are paid through stored- value cards such as debit, credit and prepaid card, online banking or through e-money. Using stored value cards and online banking in Internet may be subjected to hacking. The safer way for secure payment and money transfer is using e-money. Neteller is one among those e-money services.

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Optimal Payments PLC is the owner of Neteller Company. The company headquarters is situated in Douglas, Isle of Man and regulated in United Kingdom. Creator of Neteller was Colin Francis Bush in 1999 in Canada and in 2004 the company was shifted to Isle of Man. Optimal Payments Company is also providing for payment gateway that is Netbanx and Neteller e-money payments. Neteller is servicing more than 200 countries around the world. It has gained worldwide popularity and people use Neteller for transfer of money, withdrawal of money, money transfer in gambling firms and in social networks. Nerteller is recognised as Authorized Electronic Money institution.

In July 2000, Neteller began money transfer processing service for online gambling websites. 95% of the Firm’s revenue was derived from gambling at that time. Neteller account can be created by signing up in the website of the company. Currency setup is done at registration of the account and the money can be loaded into the account from a credit/debit card or bank. There are other loading options like Giropay, Ukash Direct online banking. Neteller account is used to load money and can be used to pay for secure online purchase. The money can be spent using Neteller Prepaid card at retailer shops which accepts MasterCard. There is also a option for receiving gambling game winning money and insurance payouts directly into the account.

Neteller Company introduced their prepaid card named as Net+ MasterCard Prepaid card in 2008. The company offered MasterCard Prepaid debit card and virtual Cards. For Each transaction, Virtual cards are generated with random virtual card number. This prevents fraudulent activity because it does not use same card number. It is used for one time and cannot be reused. Neteller is noteworthy and trustworthy payment tool that is accepted by online poker players. They offer speed, convenience and also offer weekly and monthly cash giveaways. Security of the Neteller is strengthened by secure payment systems like 128-bit encryption, identity verification, real time monitoring of transaction.

Neteller acts as a personal spending account to save money that is safer to spend as the credit and debit cards are associated with the bank account which is of less security. Neteller is an authorized company documented under United Kingdom Financial Conduct Authority. FCA regulates a money institution to maintain funds of customers in a separate trust accounts and also checks whether the company has sufficient fund for repaying customers simultaneously.