Neovia Introduces IDT Prime Card

The company that was previously named Neteller, Neovia Financial pls, is promising to create the largest prepaid debit card business in Europe. If they succeed, they will indeed be the largest independent provider as they will acquire the IDT Corporation’s European Prepaid Payment Services Division. The total amount at that Neovia paid for the division is GBP 10 million, which equals $15.05 million in the United States. The agreement that the online casino provider signed includes the agreement to buy the set amount of capital from IDT Financial Services Holdings Limited. Their deal will also provide their users in the United Kingdom usage of their prepaid MasterCard products, however they will be branded under their very own IDT “Prime Card” brand.

The cards can be used at online casinos, preferably ones owned by Neovia Financial, but accepted at any place that takes MasterCard and debit cards. The total amount that will be paid to IDT Corporation once the ink dries on their contracts is US $ 15.05 million which also includes the banking regulatory capital of US $10 million. They will be distributing the new Prime Card and advertising it to people from many walks of life. Online casino users and people who love to shop online will love the security behind the idea of a prepaid debit card. This will be an extension of the company’s already popular e-wallet system that is one of the top in its class.

Online casino users may use the IDT Prime Card as they use any other form of currency. The company will operate under a banking license that is issued by Gibraltar FCS. Neovia Financial’s President and CEO, Ron Martin, said: “The acquisition of IDT Finance represents a major milestone in the development of our financial services offering to both our consumers and merchants and in our overall strategy to diversify our business. The integration of IDT Finance’s well-regarded prepaid debit card operation and banking licence will enable us to leverage our existing capabilities to offer additional products and services. We welcome IDT Finance to Neovia and look forward to developing the full potential of the business as part of our broader strategic vision.”