With the advent of cryptocurrencies, mobile wallets and contactless payments, Fintech came into its own in the 2010s. So what will the 2020s bring? Read on for our predictions.
Wednesday, February 19th, 2020, 12:41:48 PM
Neteller is the OG aka Original Gangster epayment for the online casinos, doing business with the industry since 2000, before the online gambling frenzy started and long before the top dog PayPal even considered targeting its services to this niche.
From the get-go, Neteller specialized in offering a reliable payment gateway between the casino websites and the players willing to try out different casino games from the comfort of their home, by just accessing the Internet.
Since PayPal isn’t that used in online gambling anymore and with Skrill having been bought by the company owning Neteller, we can now say the ewallet has definitely made the winning bet.
Neteller like its brother Skrill and main competitor PayPal is an ewallet. The service was created 20 years ago, in 1999, in Canada. It began processing epayments for online casinos in July 2000 and soon enough, it was processing transactions for 85% of the world’s egaming operators.
In 2004, Neteller moved to the Isle of Man while still targeting the US market, its main source of revenue. However, in 2006, with a new legislation in place, the company had to exit the US and diversified its services outside the online gambling market.
The company owning Neteller renamed itself to Optimal Payments Plc and in 2015, it managed to acquire competitor Skrill for 1.1 billion EUR. Since Skrill bought paysafecard before the acquisition, Optimal Payments went through a second rebranding to Paysafe Group, as it is known today.
Like any other ewallet, you first have to create an account and join a user-base consisting of around 23 million people. The registration is quite hassle-free; all you have to do is type your full name, e-mail, and a good-enough password.
After your first Neteller login, you’ll notice quite a few limitations, including a lifetime funding limit for your account ($500, $1500, or $2000, depending on your country of residence). That’s because you aren’t verified.
The ewallet will still be able to process transactions over the limit, but once the limit is reached, your basic account will be frozen and you will be required to go through the verification process to unlock. To get verified, you’ll need a copy of your ID, a link to your Facebook account, photo of yourself with your ID using the mobile app, plus a proof-of-residence. Click here for more information about how you can verify your Neteller account.
Once verified, you will be able to use Neteller freely and spend your funds online on a variety of goods & services, including making a deposit on your favorite online casino platform.
Neteller and Skrill are part of the same company called Paysafe Group - the company is also the owner of the popular prepaid voucher-based payment system paysafecard.
Nevertheless, Neteller and Skrill are two different products, two different ewallets. You can create accounts on both platforms and use them separately, without encountering any issues. Both ewallets have very similar features and capabilities since they are part of the same corporation, that is why you may be under the impression the two products are basically the same.
Moreover, you can make transfers from Neteller to Skrill easily, as you would with any other Neteller account, for example. No need to use shady emoney exchanges, you just log in to your Skrill account, click Deposit, select the Neteller option and type in the e-mail account associated with Neteller.
If you have a verified account and live in the European Economic Area (EEA), you can order a plastic Net+ Prepaid Mastercard or create a Net+ Virtual Card in a matter of seconds.
The EEA includes all 27 EU countries, plus Iceland, Liechtenstein and Norway.
Both virtual and plastic card are available in eight different currencies: British Pound, Euro, US Dollar, Japanese Yen, Canadian Dollar, Australian Dollar, Denmark Krone, and Sweden Krona.
With the Net+ Plastic Prepaid Mastercard you can take your spending to a whole different level as you can use your Neteller money to also pay for any offline goods & services. Moreover, you can withdraw your Neteller funds to real cash via a nearby ATM, no matter where you are in the world.
As with Skrill, Neteller offers you the possibility to spend your cryptocurrency, whether it’s Bitcoin or some other known digital coin like Ether, Litecoin, Ripple, or EOS.
You can always top up your balance with Bitcoin using the official dashboard, or you can just trade your fiat currency for crypto in a matter of seconds. The choice is yours.
For EUR & USD the fee for both buying and selling crypto is 1.5%, while all other fiat currencies have a 3% fee whenever you trade in and out cryptocurrencies. Check this page for more information.
At one point in the 2000s, 95% of the Neteller’s total revenue was from doing business with the online gaming operators. Much has changed in 2020 as Neteller expanded its operations to many other industries online, yet still, the ewallet remains one of the most popular payment methods for the casino players worldwide.
Since no online casino wants to pass up such an opportunity, you will find countless gambling platform accepting Neteller for both deposits & cashouts. You don’t have to trust us, just see for yourself!
Before you make a deposit and start playing your favorite casino games & slots, you first have to top-up your Neteller account. Luckily, there are many ways to do it, from the traditional credit/debit card or bank transfer to Skrill, paysafecard, Neosurf vouchers, and cryptocurrencies. Pick one and in seconds you will have Neteller funds ready for a spin.
From your favorite online casino platform, the process of transferring your Neteller money to the casino account is easy as 1, 2, 3: select Neteller epayment option, type in your login credentials, and transfer away.
To withdraw your winnings, just select Neteller, verify your account ID and click Withdraw. No extra steps needed. Your winnings should reach your ewallet in a matter of hours, if not minutes, depending on the gaming platform.
Once you have funds in your Neteller account, you can buy whatever you like, from countless vendors or you can just withdraw to real cash via a nearby ATM if you have the Net+ Plastic Prepaid Mastercard.
The choice is yours!
Below, you will find some of the most popular questions asked on the web by all those interested in the Neteller’s services. Scroll down to find your question & our honest answer.
Neteller has 20 years of experience online and is authorized by the UK Financial Conduct Authority (FCA). Furthermore, all the users’ funds are safely held in trust accounts, without the risk of a malicious third party interference. What does this all mean? Neteller is one of the most trusted epayment systems in the world.
Secure ID is a 6-digit number used to further secure your account. Use the Secure ID ONLY when you transfer funds in and out of the merchant/online casino website or during login and make sure you reset it IF you believe it has been compromised, in some way or another. The Secure ID is reset by default once a year.
If you use the two-factor authentication, you don’t need to use the Secure ID. Just use the one-time code generated by the 2FA app.
All upload/top-up options have a 2.5% fee right off the bat. For withdrawals, if you choose the bank transfer, you will have to pay a fixed 10 USD per transaction. Transferring money to another Neteller account costs you an additional 1.45% but no less than $0.50. If you withdraw via an ATM with your Net+ Physical Prepaid Mastercard, the fee depends on your membership status, up to 1.75%. Check this page for more information.
At present, Neteller doesn’t provide service to most African countries and many other developing countries in Asia & the Caribbean. To check the full list and see for yourself if you can create a Neteller account from your country, click here.
In addition, only residents from the European Economic Area (EU + Iceland, Liechtenstein and Norway) can order and use the Net+ Prepaid Mastercard.
Indeed, it does. Depending on your location, you can receive exclusive bonuses and rewards if you use Neteller. To access them, login to your account and visit the Merchant Showcase. Also, be sure to access https://promotions.neteller.com/ for exclusive promotions in your area.
Both Skrill & Neteller have a VIP programme. The more you spend with Neteller, the more loyalty points and rewards you get, based on your tier, and the less fees you pay. And it all starts with the Bronze membership, all the way up to Silver, Gold, Platinum, and the ultimate VIP membership Diamond. For more information, be sure to access Neteller’s VIP page.
Whether you have been in the online gaming business for a long time or you’re just getting started, Neteller may very well be the safest best out there. You don’t need to to make extra ewallet accounts for you to enjoy the high roller life; just use Neteller and you will have endless opportunities to play your favorite casino games & slots, no matter where you are & no matter which online platforms you access.