Neteller Changes Its Name

It is no wonder that the company of Neteller wants to change its name. After the United States passed the Unlawful Internet Gambling Enforcement Act, Neteller had a big showdown with the United States Department of Justice. The dispute was because Neteller used the online company, eWallet to transfer funds to its customers who won big in online casinos. The prosecution against Neteller and its online casino activity was highly publicized and pretty much gave the company a bad name in the public light.
The company formally known as Neteller will now be known as Neovia Financial. They did not disclose whether or not the problems they had with the U.S. Department of Justice had anything to do with it, but you get the picture. The CEO of Neovia Financial, Ron Martin is the one pioneering the “re-branding” of this company. They will be f=rebuilding relationships with online casinos and online casino vendors and advertisers. There are several products under the Neteller umbrella which are going to remain with the company, Neteller, Net+, and Netbanx.
Neovia Financial wants to move beyond their past problems and focus on the future of the company. Their revenue used to come exclusively through online casinos and other internet gambling resources. In fact, at this moment 18.5% of the company's revenue is coming from non online casino sources. Their sites are set on having 30% non online gambling revenue by the year 2010. which just may happen if they continue to focus their efforts on to the European and Asian markets like they have been. So on November 17, 2008 Neteller will officially be renamed Neovia Financial.
nough for U.S. Players to enjoy the benefits of this licensing agreement.