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Casinos> 2008
- Real Casinos News Archive> NETELLER Launches New Paperless Direct Debit Service
Time Etc chooses NETELLER Payment Suite to speed client payments
Thursday 2nd October 2008 – The NETELLER Group (LSE: NLR),
the independent global online payments business, has announced the
launch of its new paperless Direct Debit service as part of its
Payment Suite. The new service enables online retailers to offer
a speeded up and simplified sign-up process to UK customers. It
also decreases administrative costs and errors, and means the merchant
does not need to go through the expensive and time-consuming process
of obtaining AUDDIS compliance.
Setting up traditional Direct Debit mandates has been a lengthy
and error prone process as it is reliant on the merchants posting
correct forms, the customer filling them in, the postal service
and the accuracy of staff keying in data. With the simplified process,
when the customer has finished the application via telephone, Internet,
keypad or interactive TV, the merchant can start invoicing and providing
the service immediately. The new service means that customers will
be, on average, ‘live’ with Direct Debit six days earlier.
Because the service is offered as an integrated part of the NETBANX®
gateway, the merchant can get paid quickly by taking a customer’s
first payment by card while the customer’s Paperless Direct
Debit application is being processed.
The NETELLER Payment Suite features the NETBANX international payments
gateway, the NETELLER® e-wallet and Net+™ cards. NETBANX
allows merchants to accept card and non-card payments through multiple
channels including online, contact centres, mail order and via automated
phone systems. The NETELLER e-wallet allows consumers to spend securely
online as well as allowing merchants to increase customer lifetime
value. Net+ cards allow merchants to extend customer loyalty and
lifetimes.
Normally, retailers who want to accept paperless Direct Debits
have to achieve Automated Direct Debit Instruction Service (AUDDIS)
status, which can be expensive and time-consuming. The NETBANX service
removes the need for the retailer to obtain this status, ensures
compliance to all relevant financial and legal requirements, and
maintains the same level of security and customer protection as
traditional direct debits.
Due to tighter security measures including 3D Secure, taking repeat
payments via a credit card is becoming more difficult. Already,
Maestro Card does not allow repeat or recurring billing. Using paperless
Direct Debit is an alternative to merchants as they also charge
on pence-per-transaction rather than the transaction value.
Time Etc, an organisation that provides pay-as-you-go support to
business owners and entrepreneurs, is already using the new Paperless
Direct Debit service from NETELLER. Barnaby Lashbrooke, founder,
said: “Our clients want a speedy service and we need to provide
this. By allowing clients to set up the payment options themselves,
errors are reduced and they can start receiving our great service
immediately.”
Dan Starr, Executive Vice President of the Merchant Services division
of NETELLER Group, said: “Where there’s commerce and
the need for funds to flow, we’re there. With our new Paperless
Direct Debit service, the NETBANX payment gateway gives retailers
and their customers more choice and flexibility, while improving
the efficiency of online commerce.”
About NEOVIA Financial Plc
Trusted by consumers and merchants in over 160 countries to move
and manage billions of dollars each year, NEOVIA Financial Plc (formerly
NETELLER Plc) operates the world's leading independent online payments
business. Through its Payment Suite, featuring NETELLER®, NETBANX®,
Net+™ and 1-PAY™ brands, NEOVIA specialises in providing
innovative and instant payment services where money transfer is
difficult or risky due to identity, trust, currency exchange, or
distance. Being independent has allowed NEOVIA to support thousands
of retailers and merchants in many geographies and across multiple
industries.
Subsidiary company NETELLER (UK) Limited is authorised by the Financial
Services Authority (FSA) to operate as a regulated e-money issuer.
For more information about NEOVIA Financial visit www.neovia.com.
NEOVIA Financial Plc recently changed its corporate identify from
NETELLER Plc to better reflect the strength and breadth of its individual
product brands. At the same time its ticker symbol changed from
NLR to NEO.
Media and Investor Contacts
NEOVIA's media relations are managed by McEntegart Marketing. Contact
them through the Media Relations Contact page. NEOVIA investor relations
are managed by Citigate Dewe Rogerson. Contact them through the
Investor Relations Contact page.
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