iGaming B2B
NETELLER logo
Visit website
Founded
1999-01-01 in Calgary, Alberta, Canada
Headquarters
Isle of Man
Phone
(403) 451-8020

NETELLER is a global digital wallet and online payment platform founded in 1999 in Canada and now headquartered in the Isle of Man. It operates as a wholly owned subsidiary of Paysafe, the international payments group, and processes billions of dollars in transactions annually. The platform enables users to send, receive, and store money securely for e‑commerce, forex trading, online gaming, cryptocurrency transactions, and peer‑to‑peer transfers. NETELLER offers a multi‑currency account, a prepaid Mastercard (Net+ Card) for EEA and UK residents, and a VIP programme with cashback and higher limits. In 2021 it launched Knect, a loyalty rewards programme, and supports buying, selling, and holding over 40 cryptocurrencies directly within the wallet. The service complies with Financial Conduct Authority e‑money regulations, holding client funds in segregated trust accounts. Although historically dominated by online gambling, NETELLER has diversified into money transfers, crypto trading, and general e‑commerce payments, maintaining strong brand recognition in gaming, forex, and crypto sectors.

Detailed Review

History

NETELLER was launched in 1999 by Canadian entrepreneurs Stephen Lawrence and John Lefebvre as a payment processor for the online gambling industry. By 2000 it was handling payments for 85% of the world’s gambling merchants, with 95% of its revenue coming from that sector. After the Unlawful Internet Gambling Enforcement Act (UIGEA) passed in the United States in 2006, NETELLER restricted U.S. accounts and eventually exited the American market in 2007. The company then refocused on Europe, Asia, and other regions while expanding into non‑gambling verticals.

Acquisition by Paysafe

In 2015 Optimal Payments Plc (later renamed Paysafe) acquired NETELLER’s then‑parent Skrill Group, bringing NETELLER and Skrill under common ownership. Today both brands operate as part of Paysafe alongside the prepaid voucher paysafecard.

Products and Features

Users can fund accounts via bank transfer, credit/debit card, or over 40 local payment methods depending on region. Funds can be used to pay merchants, send money internationally, withdraw to a bank account or card, or convert to cryptocurrency. The Net+ Mastercard (available in the EEA and UK) allows ATM withdrawals and in‑store spending. NETELLER’s VIP tiers — Silver, Gold, Platinum, and Diamond — offer lower fees, higher limits, and cashback. The platform is not a bank and does not lend client funds; all balances are safeguarded under FCA e‑money regulations.

Cryptocurrency and Diversification

In 2021 NETELLER added four new cryptocurrencies (AVAX, ICP, IOTX, AXS) to its in‑wallet exchange and continues to add features such as recurring crypto purchases and price alerts. The platform now supports over 40 cryptocurrencies.

Market Position

Despite its diversification, NETELLER remains a preferred payment method for iGaming operators and sportsbooks, as well as for forex brokers and cryptocurrency exchanges. Its brand recognition, combined with the backing of Paysafe, gives it a strong position in the global digital payments market. However, competition from newer fintech wallets and regulatory challenges in certain jurisdictions continue to shape its strategy.

Key Products

  • NETELLER Digital Wallet

    Core online account allowing users to store funds, pay merchants, send money to other users, and withdraw to bank accounts. Supports over 40 funding methods.

  • Net+ Prepaid Mastercard

    Physical and virtual prepaid card for use in stores, online, and at ATMs. Available to EEA and UK residents, linked directly to the digital wallet balance.

  • Money Transfer

    International bank transfers in multiple currencies at competitive exchange rates.

  • Cryptocurrency Trading

    Buy, sell, and hold over 40 cryptocurrencies (Bitcoin, Ethereum, Solana, AVAX, etc.) directly within the wallet. Features include recurring buys and price alerts.

  • NETELLER VIP Programme

    Tiered premium membership (Silver, Gold, Platinum, Diamond) offering lower fees, higher transaction limits, cashback, and a free prepaid Mastercard.

  • Knect Loyalty Programme

    Points‑based programme launched in 2021; earn points on transactions and card usage, redeemable for account credit.

  • Payment Gateway / PSP

    Back‑end payment processing services for merchants via Paysafe’s infrastructure, enabling acceptance of NETELLER payments along with other methods.

Key Persons

Related Companies

Suggest an edit / report inaccuracy