Neteller, the e-wallet payment system was one of the most popular payment systems used in the US online poker industry before Black Friday occurred. Once the U.S. banned all forms of online gambling, Neteller was forced to shutdown operations and exit the United States.
Neteller is owned by Optimal Payments PLC and is based out of the UK. Optimal Payments recently announced that it has entered into an agreement with Pala Interactive who will be offering online poker services in New Jersey after entering into an agreement with the Borgata Hotel Casino.
New Jersey gambling regulators will be relieved to know that Neteller will be providing online payment services in the garden state, as a number of credit card companies have refused to work with online gambling providers. Credit card companies have not been willing to co-operate with online gambling providers as they are uncertain about the security of these online poker websites. As a result, online poker players in New Jersey have faced numerous challenges when making deposits to their online poker account. This is one among the many challenges that the New Jersey gambling industry is currently facing.
Neteller works seamlessly with online gambling providers and has a payment gateway that ensures none of the users financial information is shared or stored on the online poker company’s website. New Jersey authorities will feel encouraged by Neteller’s second launch in the U.S as the state is looking to sort out its online payment issues at the earliest and Neteller is an ideal solution. The only competition for Neteller right now in New Jersey is Skrill, another popular e-wallet company.
The WSOP.com and 888poker.com are now offering players the option of using Neteller’s online payment system but as of now it can only be used for deposits. Players will be able to make a minimum deposit of $10 and a maximum deposit of up to $50,000. Players who want to deposit larger sums of money are requested to go through an identification verification process to have their limits raised. Neteller expects New Jersey authorities to complete all legal formalities and authorize the company to also start offering withdrawal services.
Players can use their Visa and MasterCard to make deposits into their Neteller accounts. For every transaction, Neteller charges players a 2.5% fee on the total amount of the transaction and most online poker companies do not charge any transaction fees.