Industry News
Neteller Launches New Pre-Paid Debit Card, and Possible Comeback
“The ability for our customers to access and use funds from their e-wallets at over 24 million online and offline outlets worldwide is very important to both them and us.” said Ron Martin, Neteller's president and CEO.The new prepaid card, is tied to a customer’s Neteller's "e-wallet account," and can be used at over 24 million ATMs and Point-of-Sale (PoS) terminals worldwide. Neteller ostensibly withdrew from the market when controversy arose over its use of e-payments for online casinos, but this move marks a comeback of sorts.
“As we continue to grow our business in Europe and Asia Pacific, we believe this new prepaid debit program will allow us to open up new areas of business," said Martin.
The pre-paid card replaces the existing "Neteller Card," Martin said. The new card offers customers "more flexibility" and significantly lower pricing than the previous card. "Importantly the new card will be available in multiple currencies and is tied to the customer’s e-wallet account, saving the consumer foreign exchange fees," said Martin. "The firm expects the new prepaid card to be available to customers by the end of May 2007.
The existing Neteller Card is being withdrawn as of May 2007, as previously communicated to customers and merchants, in accordance with a notification very recently received by Neteller from a "third-party" card provider. Canadian customers may continue to use their existing Neteller Card but only on the Interac network in Canada.
Some online gamblers are wondering what happens to the funds on their old Neteller Card if they don’t spend them. The company said it will "credit" the remaining funds back to one's Neteller e-wallet. The process, however, may take several days.
*Withdrawal Options*
There are other withdrawal options available, however. "Depending on your country of residence, you will be able to make withdrawals by cheque, bank transfer or member wire," the company said.
Used by millions of consumers in over 160 countries to move and manage billions of dollars each year, the Neteller Group operates an online money transfer business.
The Group is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NLR.
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