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The once legendary e-payment processing company. Neteller has announced that it is comfort going ahead with its plans to target alternative markets despite a dramatic plunge in profits as seen in its third quarterly financial inform. The affiliate showed be revenue of $17-million compared to $67-million at the same time last year. Operating costs caused a loss of an incredible $146-million it was learned.
The UIGEA obviously had a direct influence on Neteller’s poor performance. The company was forced to pay $136-million in a settlement agreement with US authorities after two of its chiefs were arrested on charges of illegal online gambling transactions and money laundering. In addition the North American ban on online gaming also caused Neteller to withdraw from the US market dropping its once $5.3-million per day in transactions to a more modest $295,000 per day. Despite these figures however. Neteller continues to target European and Asian markets and it is entangle that it ordain only be a matter of measure before Neteller is back in the go as a serious contender.
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