Neteller was founded in Canada by Stephen Lawrence and John Lefebvre in 1999. The company operates an e-money transfer service allowing merchants to receive payments and consumers to transfer money for goods, services, or to other individuals.
In 2015, Optimal Payments Plc (now Paysafe Group) finalized a transformational transaction for the global payments industry – the acquisition of Skrill Group, one of Europe’s largest online payments systems and among the world’s largest independent digital wallet providers.
In July 2000, the company began to process online gambling payments.
At one point, the company was processing payments for 85% of the world’s gambling merchants and as much as 95% of the firm’s revenue at that time was derived from fund transfers to online gaming firms, with many users being U.S. residents.
The company was forced to move its operations from the US to England after being charged with money laundering.
In 2003 the company launched NetCard, later changed to Net+, as a means of allowing clients to withdraw cash at ATMs and use it at POP locations.
These are prepaid debit cards that allow clients to withdraw funds that are already in their Neteller accounts and not actual credit cards.
Neteller maintains a corporate office in London, UK.