Neteller's non gaming business

Twisty · #1 10-09-2006, 09:14 PM

Ive been reading alot of posts lately with posters saying that neteller has no non gaming business.

Neteller did 50 million in transactions last year in asia,
with just about all of that being non gaming related.Of course that pales in comparison to the billions they processed for gaming merchants.

I recall reading an intervew with the ceo of the company a few months back and he said 16% of neteller's transactions are not gaming related.

Also neteller can be used like a western union.If your grandma in timbuktoo needs money to pay her rent you can transfer her the money.

Dennisa · #2 10-09-2006, 10:12 PM

Dont pee on my leg and tell me it is raining.

16 Million out of billions is not material, most of that is probably through the Netller debit card. If Neteller had non gaming merchants, just show us the websites. Pat of pokertracker was told to stop accepting Neteller as a payment source since he only accepted peer to peer transactions.

In the last week I have asked a number of people to provide me with 5 places I can spend my neteller money at that is non gaming related. Not one has shown me a single site.

I for one would like to see internet poker continue. I do not like the Santa Clarita to Garden/commerce/Lancaster commutes of 45 minutes or longer to B&M poker. I am also not going to pretend that Neteller does more than gaming transactions and will assume they are the primary target of the financial statues in the gaming legislation.

Personally I think Neteller will just pull out of the US market on Friday since they vountarily pulled out of the Maryland market when asked to do so.

I think Firepay is pulling out, hence the $10.00 withdrawl fee instituted right after the bill passed out of congress.

Vince. · #3 10-09-2006, 10:18 PM

If Neteller does pull out of the US market, what will happen to those of us who are US residents that have funds there?

whangarei · #4 10-09-2006, 10:21 PM

[ QUOTE ]
If Neteller does pull out of the US market, what will happen to those of us who are US residents that have funds there?

[/ QUOTE ]

I don't think they will pull out on Friday. But why is this question repeatedly asked??? You're money is safe. They are a publicly traded company -- they will not steal your money.

Skipbidder · #5 10-09-2006, 10:29 PM

You mean not one besides me?
Taigabridge.com sells bridge books and bridge lessons with neteller.

Dennisa · #6 10-09-2006, 11:10 PM

[ QUOTE ]
You mean not one besides me?
Taigabridge.com sells bridge books and bridge lessons with neteller.

[/ QUOTE ]

In another thread, it looks like they accept peer to peer payment, they are not a neteller merchant.

PokerAce · #7 10-10-2006, 12:04 AM

It's not practical for most businesses to become Neteller merchants, especially small businesses. The start up fees and other requirements that Neteller forces onto its merchants are insane. That's why us small guys stick to peer-to-peer transfers. The requirements are why Pat from PokerTracker isn't accepting Neteller payments anymore. It just wasn't profitable for him to do so.

If Neteller wants to get into the non-gambling business, they should really consider eliminating their retarded merchant requirements.

Dennisa · #8 10-10-2006, 12:50 AM

[ QUOTE ]
It's not practical for most businesses to become Neteller merchants, especially small businesses. The start up fees and other requirements that Neteller forces onto its merchants are insane. That's why us small guys stick to peer-to-peer transfers. The requirements are why Pat from PokerTracker isn't accepting Neteller payments anymore. It just wasn't profitable for him to do so.

If Neteller wants to get into the non-gambling business, they should really consider eliminating their retarded merchant requirements.

[/ QUOTE ]

Thank you for making my point Josh. The op stated that Neteller has non gambling business, but they really dont.

LimpyMcGee · #9 10-10-2006, 01:00 AM

[ QUOTE ]
I don't think they will pull out on Friday. But why is this question repeatedly asked??? You're money is safe. They are a publicly traded company -- they will not steal your money.

[/ QUOTE ]

My feeling is that neteller will not abscond with people's funds, but why all the confidence in publicly traded companies? Enron, WorldCom, HealthSouth, Tyco...

satya · #10 10-10-2006, 08:57 AM

PPA accepts Neteller - not peer to peer.

No doubt the majority of Neteller's merchants are gambling businesses. Why? Because the market demands it. Depending on what the regulations end up being, the US Market may demand something else. Neteller will either develop a product to meet that need or they won't. If they don't, someone else will.

In a statement to shareholders:

"Although North America accounts for the majority of revenue, the rate of revenue growth is highest in Europe and Asia."

They are paying attention and diversifying in terms of customer base. They say they are in terms of product line and merchant base as well.

Whether or not diversification matters to US regulators is anyone's guess. It wouldn't surprise me if they simply fired up Party Poker and added all the deposit methods to the banned list.