NETeller Seeks Face-Lift With Name Change
Posted on: November 14th, 2008 3:44 am | By: helenAnyone who has tried to follow the dealings of online payment processor NETeller over the last couple of years should be quite dizzy by this point. As one of the longest running and most well established operations out there NETeller had carved out quite a competitive niche for itself, particularly among the online casino players. They depended greatly on the fast and reliable services that NETeller offered. With developments like the UIEGA restrictions, NETeller had pulled itself out of many of the different markets that had come to rely on it heavily. The online casino industry, particularly within the United States was hit hard by this decision.
Recently, the UK-based online payment transaction provider announced that it had finally earner approval from their shareholders to change the company’s name. NETeller’s new name, according to the resolution, from here on out will be Neovia Financial. This new development has come about with the aim to detach the company from any lingering situation regarding the U.S. Department of Justice concerning online gambling transactions.
While NETeller was never actually prosecuted or found guilty of any crime by the United States authorities, they reached an agreement with the American government in the summer of 2007 to stop all business operations within the United States.
When the company released its third quarter financial results in October of this year, they indicated that they had plans in the works to re-brand the company to move on from this long and frustrating ordeal. Since 1999, NETeller has been providing its services to people in more than 160 different countries throughout the world. It will be interesting to see if they can all get on board as NETeller attempts to get a face-lift.
