Published on October 3rd, 2015 | by neteller0
The Gap between Biticoin and MasterCard has been finally bridged by Neteller
The creators of prepaid cards Neteller allowed the Biticoin payment feature to be integrated into their payment structure. This news was confirmed by Coindesk. This decision is viewed as a radical shift in the company policy of Neteller which had earlier denounced any type of virtual money transactions. This decision initiated a partnership between BitPay and Neteller. Joel Layoff the CEO and President of Optimal Payment the parent company of Neteller stated that it was essential to recognize crypto-currencies now and the role it would play in the next few years. The company was looking actively towards the growth of Biticoin and its extensive partnership with BitPay. The COO of BitPay Sonny Singh maintained that the significance of Biticoin has been recognized and BitPay would actively try to popularize the use of Biticoins among common people.
Few facts about Neteller
Neteller was started in Canada and was shifted to the Isle of Man in 2004. Optimal Payments is its main company which authorizes its various transactions. After the announcement of this decision many service companies displayed this payment option in social media networks. The users also shared their experiences and according to Neteller spokesman things looked very positive. This decision is also significant as Neteller plays an important role in the industry of online gaming. Here customers use the +Net cards to transfer funds during their online gaming sessions and also can transfer gaming winning amounts into their local bank accounts. Now instated of currency, Biticoins can be used. It is essential to mention that the Biticoins feature will not be currently available in the USA.
How has social networks reacted to this decision?
Social networks have reacted positively towards Neteller decision to use the Biticoin payment feature. Popular online gaming websites like PokerStars.net use Neteller for storing money. The MasterCard’s from Neteller can also be used to store money and be used for online poker games. At the same time the prepaid cards can also transfer quickly the money from the cards to your bank account. You could also enjoy ready cash if you have an ATM near you. All these biticoin transactions do not have any service fees associated with them. This could just make them more popular as Neteller is among the largest global companies involved in online payment transactions. Another strategic decision was that you could activate your Neteller account using biticoins now and then they could be transferred into a currency selected by you.
Is there any specific body regulating Neteller?
In United Kingdom Neteller is listed accordingly as Authorized Electronic Money Institution and it is strictly regulated by FCA or Financial Conduct Authority. The strict regulations of FCA make Neteller implement the highest levels of security and safety guidelines. This would ensure that strong steps are taken under money laundering and the sensitive data of the customer does not fall into wrong hands.