NETeller announces new prepaid cards for Europe and Asia Pacific

Filed in archive Gambling General on May 3, 2007

NETELLER Plc (LSE: NLR), the independent global online payments business, today announced the first product in a new suite of prepaid, reloadable debit and remittance cards for its customers in Europe and Asia Pacific.

The first of these products, a new prepaid card, is tied to a customer's NETELLER e-wallet account, and can be used at over 24 million ATMs and Point-of-Sale (PoS) terminals worldwide.

"The ability for our customers to access and use funds from their e-wallets at over 24 million online and offline outlets worldwide is very important to both them and us." said Ron Martin, NETELLER President and CEO. "As we continue to grow our business in Europe and Asia Pacific, we believe this new prepaid debit programme will allow us to open up new areas of business."

The new prepaid card replaces the existing NETELLER Card. The new card will offer customers more flexibility and significantly lower pricing than the previous card. Importantly the new card will be available in multiple currencies and is tied to the customer's e-wallet account, saving the consumer foreign exchange fees. The Group expects the new prepaid card to be available to customers by the end of May 2007.

The existing NETELLER Card is being withdrawn on 3 May 2007, as previously communicated to customers and merchants, in accordance with a notification very recently received by NETELLER from the third-party card provider. Canadian customers can continue to use their existing NETELLER Card but only on the Interac network and only in Canada.

Additional information and pricing on the new prepaid cards may be found on the Group's website at http://web.neteller.com/content/en/about_the_neteller_card.htm.