Neovia's Net+ cards win place in Finextra Innovation Showcase

Source: Neovia

NEOVIA Financial Plc (LSE: NEO), the independent global online payments business, has been selected by financial technology newswire Finextra to appear in its Innovation Showcase. This highlights the most innovative technologies, products and projects in financial services over the last year.

NEOVIA was selected for its Net+ prepaid cards. The Net+ card is a prepaid MasterCardR that is available as both a virtual card for secure online transactions, and as a physical card that can be used in ATMs and at retail point of sale. The Net+ cards use the NETELLER e-wallet as their loading account and provide a convenient mechanism to withdraw money from the e-wallet. This is the first time an e-wallet has been used as a loading mechanism for both a virtual and physical card.

"We expect the competitive nature of online payments to spawn more innovations in 2009, and NEOVIA's December acquisition of pre-paid card distributor IDT Financial Services Holdings, which has a Gibraltar banking license, should enable it to expand into other financial services," said Elton Cane, strategy director, Finextra.

"In launching the Innovation Showcase, we sought to highlight some of the most interesting financial technology developments over the past 12 months,"
said Cane. "What were we looking for? Newness, uniqueness and impact; clever ways of solving a problem; and projects at the leading edge of new industry trends."

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