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Neteller Announces Impressive Financial Figures

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Neteller, the online payment processor, has announced positive figures for the first half of 2008. Total income for this time period grew to $35.9 million, with revenues from its e-wallet product growing by 10%.

This is good news for Neteller, which has been struggling to recover since the implementation of the Unlawful Internet Gambling Enforcement Act in 2006 – a law that led to serious financial losses for the company.

The President and Chief Executive Officer of NETeller, Ron Martin said this week, following the results:  "The business has delivered a solid performance in the first half of 2008. We have made significant steps in repositioning our business and the adoption of our Merchant Solution Suite among both gaming and non-gaming customers is beginning to drive tangible benefits."

Part of Neteller’s success has been its diversification into the Asian and European markets.