thanks walk from sportscrew for the read
*************
Leading alternative payment firm NETeller has set its sights on dominating the European and Asian markets following stunning growth with net profits up 210%.
NETeller, which operates primarily as an eWallet provider, showed record customer numbers of 868,335 for the six months ended June 2005.
Total revenues for were up 122% to US$73.5m compared to the same period last year, with pre-tax profits leaping 126% to US$40.6m.
Isle of Man-based NETeller, which has derived most of its revenue from the US to-date, also said it had seen strong growth in European revenues.
The firm relaunched its site for the European market, and signed two key European online gaming clients during the period.
Betting exchange giant Betfair and Swedish sportsbook Expekt both added NETeller to their payment options.
And the firm also has high expectations from its Asian business, with the integration of its eWallet system with the Chinese payment system 1Pay expected by Q4 2005.
1Pay, the leading debit card processor in China, was acquired by NETeller in January 2005, and the firm also has plans for a Japanese payment system to be launched by the end of the year.
Gord Herman, chief executive of Neteller, said the remainder of the year would be crucial to its future success in the region.
“The next six months will be key to our expansion in Europe, strengthening our foothold in Asia, and the implementation of the next-generation web-based platform," Herman said.
As reported by EGRmagazine.com
<!-- / message -->
*************
Leading alternative payment firm NETeller has set its sights on dominating the European and Asian markets following stunning growth with net profits up 210%.
NETeller, which operates primarily as an eWallet provider, showed record customer numbers of 868,335 for the six months ended June 2005.
Total revenues for were up 122% to US$73.5m compared to the same period last year, with pre-tax profits leaping 126% to US$40.6m.
Isle of Man-based NETeller, which has derived most of its revenue from the US to-date, also said it had seen strong growth in European revenues.
The firm relaunched its site for the European market, and signed two key European online gaming clients during the period.
Betting exchange giant Betfair and Swedish sportsbook Expekt both added NETeller to their payment options.
And the firm also has high expectations from its Asian business, with the integration of its eWallet system with the Chinese payment system 1Pay expected by Q4 2005.
1Pay, the leading debit card processor in China, was acquired by NETeller in January 2005, and the firm also has plans for a Japanese payment system to be launched by the end of the year.
Gord Herman, chief executive of Neteller, said the remainder of the year would be crucial to its future success in the region.
“The next six months will be key to our expansion in Europe, strengthening our foothold in Asia, and the implementation of the next-generation web-based platform," Herman said.
As reported by EGRmagazine.com
<!-- / message -->
