Neteller Continues to Grow

With the world’s economy seemingly going down the toilet, it is always good to hear when anyone’s business is doing well. The popular online cash processor, Neteller reported in the end of September that they are continuing to grow and that their numbers are up 27% from the same time in 2007. Those are definitely very impressive numbers, a large portion of Neteller’s business comes from online casinos. The company does have subsidiaries in two of the major online casino markets, Europe and Asia, that also turned in some impressive numbers. Netbanx, which is the European subsidiary of Neteller, had reported third quarter revenue of $12.1 million which is a 20 percent increase from the third quarter numbers in 2007.

Netbanx Asia on the other hand also had an excellent third quarter in 2008. The Asian sister of Neteller had a third quarter return of $4.9 million. Their numbers are not as high as their European counterparts, but it is a 61 percent increase from third quarter of 2007, which is pretty impressive any way you slice it. All over the world online casinos and online based companies seem to be unaffected still by the current economic climate. This is definitely great news for any online casino player that frequently uses the e-wallet of Neteller. So many companies have gone down due to lack of revenue, it is nice to finally hear of a company that is managing to prosper. In fact, they will hopefully be launching their own Net+prepaid cards which will allow consumers to refill their card and use their e-cash anywhere they see fit on the World Wide Web.