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Still Cutting Edge?

Neteller has spent the last eight months forming a restructuring plan that will continue to secure the e-wallets position in the global online casino payment processing industry. The company has exited multiple markets including all of North America, Turkey, and Israel. But now that the company has a new global focus (specifically on the European and Asian Pacific markets) some are wondering if the e-wallet still has plans to supply top-of-the-line payment processing solutions. The online casinos industry is growing around the world and there are increasingly new technologies and new player demands.

The President and CEO at Neteller, Ron Martin, recently commented on the company’s new focus, and also noted that Neteller would still expand its offerings and adapt and change with the growing online casinos market. He says, "We will initially focus on our core market of online casino gaming where we have developed considerable expertise. In the medium term, however, we will look to add further offerings for our customers that add value to the e-wallet proposition such as payment cards and other payment features.

The online casino industry has exploded in recent years, and as such players have many choices for internet gaming companies. The e-wallet industry is slightly smaller and more of a niche sector of the industry. The role of the e-wallet is integral for players, so many are willing to overlook Neteller’s problems with the U.S. Department of Justice in favor of concentrating on the company’s long-standing reputation for quality service.

Additionally, Neteller plans to “develop further innovative payment solutions for our customers and merchants within our selected markets,” says Martin. He adds, “We believe online payments is a rapidly growing market and Neteller is well positioned to benefit from this.” The company seems to be headed in the right direction by focusing on more specific online casino markets and on innovative product development.