Published on October 3rd, 2015 | by neteller0
The Biticoin option is added by Neteller: This is viewed as a change in its company policy
At an average around 3600 fresh Biticoins are mined daily. Studies have indicated that 64% of all the Biticoins which have been mined are still not used. Thus it is essential to understand the importance of the decision which was taken by Neteller to allow Biticoin deposit feature to integrate into its payment system. Spokesman from the company explained the fact that this payment facility would be available to all Neteller customers by 26th Match 2015.
What are the facts that we know about Neteller?
Optimal Payment is the parent company of Neteller, which is one of the leading companies in the business of online payment systems. The main product of the company is the e-wallet system, which allows its customers to store money online and use it for its various transactions easily. In fact the presence of Neteller can be seen in 200 countries. The customers of Neteller can use the money stored in e-wallet to receive money and transfer it to their family members and merchants when needed. The money can be used for other purposes like undertaking forex trading by merchants, using the money in various social network activities and also transferring the money for online gaming sessions.
What is the role of Financial Services Authority?
In 1999 in Canada it began and in 2004 the Isle of Man becomes its new location. Over the years the company became a popular name in the world of online financial transactions. Neteller currently has millions of active account holders, who use its services on a daily basis. The Financial Services Authority in United Kingdom regulates the various transactions undertaken by Neteller. This strict regulation has made Neteller undertake strict security codes, which would prevent cyber crimes related to identity scam and money laundering. The people at Neteller believe that the customer’s identity and various sensitive data should be protected at all cost. The FSA implements and sets strict regulations pertaining to it.
What is the VIP program?
Regular customers of Neteller not only enjoy the excellent online transaction services of the company but also earn money or points. This is due to the presence of the VIP Program, which awards the customers points when they complete their daily transactions online. Once the customers store these points, he could later encash it for various purposes.
What happened in United States?
Due to various factors the user accounts of Neteller customers in USA were frozen and by July 2007, the amount was restored to the customers. This exit made it lose a large amount of money which was $239 million in 2006 to just $61 million in 2010. Here the company decided to diversify.
What is the role played by BitPay?
The addition of Biticoins deposit feature into the payment system of Neteller comes as a surprise, as Neteller policy wad against the use of virtual money transactions. But since its recognition, BitPay would partner this activity actively. Joel Layoff the President and CEO of Neteller explains the fact that this decision to add the Biticoin deposit feature was undertaken to add convenience to various merchants. He further explains this small step is an initiative to recognize the importance of crypto-currency in times to come.