Neteller will come online with prepaid cards

One of the most prominent online processors NETELLER has announced its partnership with TransSend Payment Services, a leading provider of prepaid card solutions under which Neteller will be able to provide its e-wallet customers with Net+TM MasterCard® Prepaid Cards, reports London Stock Exchange. The company is sure that the introduction of these cards will make the use of the system more secure, convenient and easy.

"This is another important milestone for NETELLER and demonstrates further evidence of the Group delivering on its strategy. The anticipated launch of the Net+TM prepaid cards will provide our consumers with a more effective and cost-efficient way to withdraw and utilise funds in their e-wallets. We look forward to working with TransSend to maximise our opportunities together," - said Ron Martin, President and CEO of Neteller.

New cards will be available by early October 2008. To use Net+TM cards the users need to sign up for two new products:

A virtual Net+TM MasterCard® card for use online. The virtual card application generates a single use, unique 16 digit card number and populates the checkout page with full payment details for the user. The Net+™ virtual card offers the convenience of paying online (everywhere where MasterCard is accepted) from your computer combined with high level of security and privacy. The Net+ Virtual Card will be part of the NETELLER Desktop which, in addition, to offering convenient, secure and private payment via Net+, will also enable NETELLER e-wallet users to view the balance on their e-wallet account without the need to visit the main NETELLER site.

A physical Net+TM MasterCard® card to access funds within their e-wallet at points-of-sale or by withdrawing cash at ATMs. The card will be usable at 27.3 million locations, including 1.9 million ATMs, worldwide where MasterCard® is accepted.