24th Sep 2008 07:00
NETELLER Expands European Offering Across Payment Suite
Payment Suite adds more local European languages, currencies and payment options
Wednesday, 24 September 2008 - NETELLER Group (LSE: NLR), the independent global online payments business, today announced that it has released a raft of new services and improved functionality for its Payment Suite that directly support the Group's online merchants' Europe-wide business growth.
The NETELLER Payment Suite features the NETBANX international payments gateway, the NETELLER e-wallet and Net+™ cards. NETBANX allows merchants to accept card and non-card payments through multiple channels including online, contact centres, mail order and via automated phone systems. The NETELLER e-wallet allows consumers to spend securely online as well as allowing merchants to increase customer lifetime value. Net+ cards allow merchants to extend customer loyalty and lifetimes.
These significant European enhancements to the NETELLER e-wallet include:
Open to more countries: The NETELLER e-wallet, already widely accepted across the vast majority of the EEA countries, now accepts - and is authorised and regulated by the FSA for - new members from Estonia, Hungary, Latvia, Lithuania, Slovakia, Slovenia. NETELLER e-wallet will also be available shortly to customers in Bulgaria and Romania.
Convenience of more European deposit methods: The new version drives increased funding conversions by now allowing consumers to top-up their NETELLER e-wallet via Carte Bleue, Carta Si, DirectPay24, Ukash and the POLi/UK consumer Internet bank payment service, as well as all the existing card and non-card methods.
Expanded EU currency support: With the recent launch of new currencies for Hungary and Poland consumers can now reduce their foreign-exchange costs by opening e-wallet accounts in EUR, SEK, GBP, NOK, HUF, PLN, and DKK European currencies as well as other non-European currencies.
Earlier in the year other European capabilities were added to the NETELLER e-wallet. In April the Group added iDEAL for the Netherlands. The iDEAL payment standard is similar to Giropay in Germany or Switch in the UK. Figures confirm that local deposit volumes have doubled since April, and iDEAL now accounts for over 90% of all funds added to consumers' e-wallets in the Netherlands.
Since Danish Krone (DKK) and Norwegian Krone (NOK) were added between 60% and 70% of new consumers in these countries are opening their new NETELLER e-wallet accounts in their local currency rather than in Euros or US Dollars.
During the second quarter of 2008 the Group added significant new European enhancements to its NETBANX international payments gateway, including additional currency support for all European currencies, Dynamic Currency Conversion and all the Carte Bleue, Carta Si, DirectPay24, Ukash and POLi/UK payment methods now accepted by the NETELLER e-wallet.
Also in the last six months the NETELLER Group has expanded its regional sales, distribution and business development functions based in the UK, Sweden and Germany to support its expanding local business. These teams have driven payment, distribution and localisation initiatives across Europe. The Group's NETELLER e-wallet authorisation and regulation is passported across Europe by the UK's Financial Services Authority (FSA).
"I am very pleased with our continued and rapid expansion of services to our customers in line with the Group's strategy," said David Gagie, President of NETELLER's Member Services Division. "With these latest changes we believe we have the best solution for both merchants and consumers across Europe."
For further information contact:
Andrew Gilchrist
VP Communications, NETELLER Plc
Email: [email protected] / tel: + 44 (0) 1624 698 713
Media Relations
Nick Daines / Sheelagh Connelly, McEntegart Marketing
Email: [email protected] / tel: +44 (0) 20 7617 7019
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About the NETELLER Group
Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the world's leading independent online payments business. Through its Payment Suite, featuring NETELLER®, NETBANX®, Net+™ and 1-PAY™ brands, the Group specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.
The Net+TM card is provided in partnership with TransSend, the prepaid card division of Conister Financial Group, and is issued by Conister Trust Ltd pursuant to a licence from MasterCard International Incorporated.
NETELLER Plc is quoted on the London Stock Exchange's AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.
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