NEOVIA Announces Bingo Market Payments Success

NEOVIA achieves 85% market penetration of UK online bingo operators

NEOVIA Payment Network gives operators quick access to new players

Wednesday 2 June 2010 - NEOVIA Financial Plc (LSE: NEO), the leading alternative payments business, announces that it now provides payment services to more than 85%… of UK online bingo operators, including Wink Bingo, 888 Ladies, Posh Bingo and the market-leading Foxy Bingo. By offering NEOVIA's NETELLER e-Wallet, part of the NEOVIA Payment Network™, on their site, bingo operators can enable customers to start playing immediately and reach players who would previously have been excluded.

More operators are seeing the benefits of providing easy-to-use alternative payment options such as e-Wallets, so that they can attract new players who want to play but don't have a credit card or want to use one. With the decline of 'free-to-play' games, market consolidation and the added pressure of players wanting instant liquidity, finding a competitive edge is crucial for bingo operators.

Electronic identity and anti-impersonation checks are automatically undertaken when a new consumer signs up for the NETELLER e-Wallet. These checks allow bingo operators to reduce the fraud and compliance risks in allowing new customers to play immediately at their websites. This helps to increase the operator's revenue and improve the service it can offer its customers.

NETELLER also makes it easy for players to deposit money and take out winnings. Customers can also apply for the award winning Net+® card to instantly spend their winnings on cash-out, at over 30 million MasterCard® high street, online or ATM located worldwide.

NETELLER is part of the NEOVIA Payment Network™ that simplifies payments for businesses improving customer experience, margins and lifetime value. It includes the international NETBANX® payments processing service for merchants, and member and card services through the NETELLER® payment account. NETBANX allows merchants to accept and settle card and non-card payments through multiple channels including online, contact centres, mail order and via automated phone systems. Via NETELLER merchants can offer their loyal customers a branded payment account that allows instant and direct settlement that avoids the complexities and costs of traditional card schemes; the embedded multi-award-wining Net+ card allows consumers to spend at over 30 million MasterCard® locations worldwide.

Dan Starr, Chief Marketing Officer for NEOVIA commented: "We have already been the de facto standard alternative payment provider for the Sports, Poker and Casino gaming industries for the last ten years. With this news, we can add bingo to that list."

According to the latest Mintel Report…… there are over 3.5 million UK players with a demographic shifting towards a younger segment. With some 20% of players between 18-24 years old, this overlaps with the demographic of NETELLER e-Wallet members. This positions NEOVIA as a serious business partner to work with. Through its Showcase service and affiliates it can drive additional players to bingo operators' websites.

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… A snap shot taken from bingo affiliate website http://www.online.casinocity.com in March 2010. Of the 310 UK online Bingo operators, NEOVIA provides alternative payment options to 259.

……Mintel Report- Online & Interactive Gambling - UK July 2009 (http://bit.ly/bP9L0g)

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About NEOVIA Financial

Trusted by consumers and businesses in over 170 countries to move and manage billions of dollars each year, NEOVIA Financial Plc is a leading alternative payments business. Through the NEOVIA Payment Network, merchants use the NETBANX processing merchant service to simplify how they accept and settle card, direct-from-bank, and cash payments, and the NETELLER payment account to increase margins, capture new customers and increase customer lifetime values. Being independent has allowed the company to support tens-of-thousands of retailers and merchants in many geographies and across multiple industries.

NEOVIA Financial Plc is quoted on the London Stock Exchange's AIM, with a ticker symbol of NEO. Subsidiary company NETELLER (UK) Ltd is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about NEOVIA Financial visit www.neovia.com or subscribe at www.neovia.com/feeds/.