27th Aug 2008 11:00
NETELLER Plc
NETELLER announces contract to deliver
Net+™ Virtual Prepaid Card by MasterCard®
And
Net+™ Prepaid Card by MasterCard®
Agreement signed with TransSend (Conister Financial Group Plc)
Wednesday, 27 August 2008 - NETELLER Plc (LSE: NLR), the leading independent, global provider of online payments, is pleased to announce that it has signed a contract with TransSend Payment Services, a leading provider of prepaid card solutions, to provide Net+TM MasterCard® Prepaid Cards to its e-wallet customers.
Through its partnership with TransSend Payment Services, NETELLER will shortly begin providing its e-wallet users with the opportunity to add Net+TM cards to their account - providing increased value, security, privacy and convenience. The Net+TM prepaid cards will be available by early October 2008 when NETELLER e-wallet consumers can sign up for two new products:
A virtual Net+TM MasterCard® card for use online. The virtual card application generates a single use, unique 16 digit card number and populates the checkout page with full payment details for the user. The Net+™ virtual card offers the convenience of paying online (everywhere where MasterCard is accepted) from your computer combined with high level of security and privacy. The Net+ Virtual Card will be part of the NETELLER Desktop which, in addition, to offering convenient, secure and private payment via Net+, will also enable NETELLER e-wallet users to view the balance on their e-wallet account without the need to visit the main NETELLER site.
A physical Net+TM MasterCard® card to access funds within their e-wallet at points-of-sale or by withdrawing cash at ATMs. The card will be usable at 27.3 million locations, including 1.9 million ATMs, worldwide where MasterCard® is accepted.
The integration process between NETELLER and TransSend is at an advanced stage and NETELLER anticipates the full launch of the Net+TM cards to its e-wallet users by early October 2008.
TransSend Payment Services and NETELLER have worked together to offer two great card products which have been integrated with NETELLER's existing platform to ensure seamless loading and withdrawal capabilities through the NETELLER e-wallet. These two products offer excellent value to the consumer (compared to many other prepaid card offerings) as well as a high level of convenience and security.
Ron Martin, President & Chief Executive Officer of the NETELLER Group, said: "This is another important milestone for NETELLER and demonstrates further evidence of the Group delivering on its strategy. The anticipated launch of the Net+TM prepaid cards will provide our consumers with a more effective and cost-efficient way to withdraw and utilise funds in their e-wallets. We look forward to working with TransSend to maximise our opportunities together."
Richard Jones, CEO of TransSend, said: "NETELLER's position as a leading provider of innovative payment solutions and their widespread customer base in both gaming and non-gaming markets made them an attractive partner for us. We fully expect that this partnership will generate one of the leading prepaid card programmes in the market today and are excited about the opportunities we see within NETELLER's card-based strategy for further developments."
For further information contact:
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Andrew Gilchrist |
+ 44 (0) 1624 698 713 |
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VP Communications, NETELLER Plc |
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Email: [email protected] |
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Media Relations |
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Nick Daines / Sheelagh Connelly, McEntegart Marketing |
+44 (0) 20 7617 7019 |
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Daniel Stewart & Co Plc |
+ 44 (0) 207 776 6550 |
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Paul Shackleton / Oliver Rigby |
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Notes to Editors
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 NETBANX, NETELLER 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.
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 or contact us by email at [email protected].
About TransSend
TransSend is the prepaid card division of Conister Financial Group (CFG.L) and works in partnership with its issuing bank Conister Trust Ltd, a principal member of MasterCard®. This close relationship between programme manager and bank gives TransSend a strong competitive edge in delivering robust, secure and commercially successful card programmes. TransSend was the first company in Europe to receive MasterCard® approval to offer a prepaid card to the non-US online gaming sector. TransSend is a MasterCard® Member Service Provider and manager of prepaid card programmes. For more information visit www.transsend.eu.
The Net+TM card is issued by Conister Trust Ltd pursuant to a licence from MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.
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