Weather New York, NY +70°F

Misc

Neteller delivers a new global payment future

June 9
11:08 AM 2017

Despite all of the remarkable innovations of the digital revolution, the fact that financial transactions are still carried out in cash have led to many companies developing new 21st century payment systems.

Recently there has been the widespread use of electronic payment systems such as PayPal, as well as the surprising popularity of cryptocurrencies like Bitcoin. But it's the efforts of Neteller who have done much to illustrate the ease with which digital transactions can now be undertaken.

The brand is part of the British payments company Paysafe who have been providing digital wallet solutions for the emerging internet-based economy for 20 years. And with the widespread use of the service in the online casino arena, as well as increased exposure in prestigious sporting institutions, it looks like Neteller's fortunes are certainly on the rise.

The key concept behind Neteller is the way in which it provides users with access to a prepaid Mastercard that can be used to securely pay for goods, both in person, and in the online environment.

The way that the Neteller service can process payments from widely-used credit card companies such as Visa and Mastercard have quickly helped it become authorised for use in over 200 countries. And with the adaptation of the revolutionary cryptocurrency Bitcoin, it seems that Neteller holds a pivotal place in the emerging digital payment environment.

Given the fact that the Neteller card generates a different virtual card number for each transaction, it is able to curtail certain fraudulent activities. This has led to the business being used by foreign online exchange services such as FBS, as well as multiple online gaming sites. That the users can make deposits and enjoy instant payouts thanks to the quick digital access to the site's transactional pages, Neteller is proving to be right up there with Paypal, and Skrill as described by Lucky Nugget.

The fact that the digital payment service could gain great success in South Africa is just part of the way in which the nation has leapt at the chance of using financial systems that bypass the inconveniences of setting up a bank account.

But as the digital payment marketplace becomes increasingly competitive with companies such as Skrill offering a similar easy-to-use service, Neteller have sought to increase their brand's exposure thanks to high-powered sponsorship deals with football clubs such as Crystal Palace.

And with online casinos experiencing phenomenal growth and consumers requiring simpler and faster ways to buy goods online, it looks like Neteller's services will only become more in demand.

© 2017 VCPOST, All rights reserved. Do not reproduce without permission.
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics