Neteller expands in Europe and Asia

Neteller expands in Europe and Asia

UK online payment transfer firm Neteller is launching German, French, Spanish and Italian versions of its service as well as a new payments platform, called 1-Pay, in Asia.

Neteller says its English service has already built up a global user base of more than 2.6 million customers and 3,400 merchants across 160 countries. Formed in 1999, Neteller's growth has accelerated recently following increasing use of its payments service for transferring funds for online gambling.

The company is now looking to drive adoption of the service within four new European countries by enabling customers to transfer money from their local banking systems, in euros and in the local language. Neteller says it has already seen a significant growth in sign-up rates from new customers, particularly in Germany and France.

The vendor has also officially launched its new 1-Pay payments platform for the Asian region. The service has undergone extensive testing during the last quarter and is now integrated with a number of key merchants in the area. The company already runs a Japanese site which was launched in 2005.

Neteller says it is has also completed a major technology overhaul, replacing its existing member application technology with a more scalable Java platform which will provide the necessary foundation to support its continued aggressive member and merchant acquisition plans.

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