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Neovia Making a Splash

It’s amazing what a name-change in the industry can do for moral and reputation. At this point the name change is very new but it hasn’t taken Neovia, formerly Neteller, very long to pen its first deal. Neovia Financial announced a finalized deal with the European Prepaid Payment Services Division of IDT Corporation. Neovia has set its sights on becoming one of the top payment processing and independent prepaid debit card services in the world. As Neteller, the company’s strategy was mainly focused within the online casino gambling industry. Now that the online casinos are a very sticky situation in many markets, and Neteller was burned by the US market, the name change to Neovia, coupled with a new business plan has really re-energized the market.

The deal means that Neovia will now wholly own the former IDT product and all of the existing services. The acquisition of this advanced business now gives Neovia an additional strong network of existing users and technology. Neovia also announced a strategy to become the top choice in the UK and European markets – the acquisition of IDT’s technology and debit card system not only gives the company an “in” within this sector of the market, but the technology and framework of the IDT technology will undoubtedly go a long way toward development on the Net+card product.

The Netcard has been highly anticipated by the online casino gambling industry because it allows gamblers to nearly immediately withdraw their winnings from their player accounts. Rather than waiting for a transfer from one back account to another, the players can transfer funds onto their issued Mastercards and use those funds as they would any other debit or credit card.