Functionality of Neteller as an iGaming Payment Solution

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4 months ago

Neteller comes with multiple functionalities, including serving as a cash in and cash out avenue for gamers. Regardless of whether the player uses a desktop or a mobile device, transactions are a breeze. The digital wallet is highly favoured for its user-friendliness, robust security, and lack of charges on transactions to or from gaming or betting websites.

Multiple European nations endorse Neteller as a credible payment system for gambling, providing this payment method to players across diverse markets. Neteller acknowledges GBP, EUR, and USD as the main currencies for iGaming.

An Overview of Neteller

Neteller is an eWallet transaction system. It was initiated in Canada in 1999 and by the turn of the millennium, had become a forerunner in processing payments for online gaming. Come 2005, Neteller had captured 80% of transactions for worldwide gambling operators.

At present, Neteller is run by the PaySafe Group and operates out of London, UK. It is validated by the FCA and its product suite includes payment portals, digital wallets, prepaid cards, and PSPs. With support for 15 languages, over a hundred payment options, and users in over 200 nations, Neteller is global in its reach.

Neteller is a cost-effective choice for payments. Its extensive customer base, global presence, easy operationality, and stringent security make it an invaluable addition to your gaming enterprise, aiding in attracting new clientele, retaining current ones, and catalysing revenue generation.

Integration Features and Function

Neteller provides support for over a hundred payment methods with a single integration via the Neteller API. They also give a no-chargeback assurance. Furthermore, the payment gateways of Neteller enable businesses to offer localized services to their clientele, via support for multiple languages and currencies as well as local and international payment options. This includes ones like Visa, Mastercard, Astropay, Maestro, iDEAL, Skrill, Boku, Paysafecard, and Bitcoin.

Upon successful integration, Neteller brings multiple perks for its merchants, such as enhanced customer acquisition, high conversion rates, and an absolute lack of chargeback threats. In addition, their built-in FX makes payments in different currencies without the need for conversion or extra charges.

To incorporate Neteller as a viable method of payment, one can choose to comfortably collaborate with a trustworthy software platform, such as the ones mentioned above. Alternately, direct integration with Neteller is also possible. This integration procedure commences upon approval as a merchant on their site.

Securing a Business Account with Neteller

To become a recognized merchant with Neteller, you would first need to get in contact with their sales department by filling out a simple form.

Visit the official Neteller site
Choose the “Contact Sales” option found under the Business tab on the home page
Fill out the form comprising of full name, business email, business phone, company name, site, industry, country and description
Submit the form by selecting the “Contact Sales” button

On submission of the completed form, your application for a Neteller business account will be processed, and a representative will get back to you with your approval status and the next steps.

However, it should be noted that your application will only be considered for evaluation provided your business is registered, your website is active, and the relevant data is filled in correctly.

The Pros and Cons for Players using Neteller

Advantages

Registering a personal account with Neteller is free and quick. Players can add funds to their Neteller Wallet using multiple payment options.
Neteller is user-friendly as an online gaming payment method. Players need only to select Neteller from the available options, fill in the deposit/withdrawal amount and their Neteller details (email id and password), and submit the form.
With Neteller, deposits are breached instantly. Withdrawals are also quick — with requests getting processed in anything from instantly to a day at most.
Neteller charges no transaction fee. Most gaming operators do not levy charges on their players when they use Neteller to make deposits or withdrawals.

Disadvantages

Neteller is frequently excluded from promotions. Players who deposit fund through Neteller are generally not allowed to claim bonuses or promotions. This helps protect against fraud, bonus abuse and money laundering. Casinos and sportsbooks also take on processing fees which they would otherwise have to charge players for using Neteller.
In the UK, the Gambling Commission of Great Britain has put a blanket prohibition on gambling with credit cards. Consequently, UK licensed land-based and online gambling sites are banned from accepting eWallet payments like Neteller when they’re bankrolled by credit cards.

Countries of Operation

Neteller is an authorized financial conduit for online gaming in many countries. Some of these are:

United Kingdom
Greece
Germany
Sweden
France
Spain
Poland
Netherlands
Portugal
Italy

Safety and Security Protocols

Neteller employs top-notch security measures to safeguard your business and customers from fraudulent transactions and identity theft. Their scam prevention and payment security methodologies help businesses reduce deceitful activities and chargebacks.

All transactions that pass through the secure gateway of Neteller are 100% indemnified. The firm adheres to stringent real-time identity and age verification principles. They are also fully compliant with PCI DSS norms, use 256-bit encryption and multiple firewalls, real-time transaction monitoring, account surveillance, verification of security codes and BIN/IP checks, amongst others.

Customer Support

Commercial and individual customers can turn to the frequently asked questions (FAQs) page on Neteller’s support site for answers to queries. For detailed assistance, customer support, accessible through email and telephone, is provided. Once you acquire a business account with Neteller, you will be offered the necessary contact details for exclusive merchant support for your business.