Neteller is an electronic payment service which people can use to make payments for goods and services online. The service was created in Canada at the end of the last Century, but has been thought of as a British concern since the operating company relocated to the Isle of Man in 2004.
The Neteller head office remains on the island, although the company’s corporate history has been complicated by various mergers and takeovers in the intervening years. At the time of writing, Neteller is a wholly owned division of the Paysafegroup. This conglomerate now operates three of the major means of online payment in the United Kingdom, as the unique and separate services of Neteller, Skrill and its own Paysafecard service all belong under the Paysafegroup umbrella.
Ever since the service’s introduction around twenty years ago, Neteller has made the majority of its income from providing payment services to online casino operators. In the early years, 95% of the firm’s revenue was derived from payments between customers and online gaming companies. The collapse of the American online gaming market as a result of regulatory changes seriously affected the company’s performance, but even today, the majority of its income is earned this way. It remains a popular means of making payments for players, and an efficient and cost effective way for casino operators to both receive these payments and return resulting wins to their customers.
Why has the Neteller service remained so successful? Well it does have several clear advantages. It is fee free for players, who can make payments and receive funds free of charge. Neteller makes its income from charging the operator a small commission. Other fees can be charged to customers, such as currency conversion fees and charges for withdrawing money to a real world bank account, but in general, for ordinary payments, it is free at the point of use.
The second great advantage of the service is its security. None of your important personal financial information is disclosed when you make a payment with Neteller. This is quite different from when you make a payment with a credit or debit card for example. Here you have to disclose your card number, card expiry date and CVV number (the three digit number printed on the signature strip on the reverse of the card) to the vendor. Now you may well trust the company or organisation you are buying from completely, but data theft is a growing problem, and public (and indeed private) Wi-Fi services can be insecure or hacked. This means that it is possible for your details to fall into the wrong hands, resulting in possible financial fraud or even identity theft.
All of these things are much more difficult for the fraudsters to achieve when you use Neteller, because none of this information is disclosed when you make an online payment. Instead, you only need to give this information when you load your Neteller account or withdraw funds from it, making payments especially secure and worry free.
What’s more, your account details are protected by firewalls providing the very highest standards of data storage security, plus the best 256 bit encryption facilities available today. Plus your funds are protected by the regulatory powers of the UK Government’s Financial Conduct Authority (FCA). These require that all of your funds are held in separate trust accounts, not by Neteller, so you can be sure your money is safe.
Finally, Neteller is a flexible service. You can use it for far more than just paying for goods and services online. You can transfer money anywhere in the world at the touch of a button or tap of a touch screen. You can even make payments to friends and family. All you need is their e-mail address. It’s all quick, simple and secure.
How does it work? It’s all really simple. All you need to do to register for the service is to provide a valid e-mail address and think of a secure password. And you’re done! At the time of writing, there are well over fifty different ways to load your account, but most people use their standard credit or debit card, or their bank current account. It’s free to load your account and to make payments.
It’s all really easy, especially if you download the app on your phone. Just look for the Neteller logo on the payment page of your chosen casino to make swift, secure payments to the casino of your choice.