Reports for NETeller Showing Recovery

"The third quarter has demonstrated the resilience of the NETeller business and the results from our European and Asia Pacific businesses show that we are regaining the trust of customers and continuing to deliver innovative solutions to our merchants," said Ron Martin, NETeller president and CEO.

Geographic diversification remaining important in growth strategy for the company was also pointed out by Martin. They plan to stay alert to regulatory concerns in certain markets.

"Our strong presence at EiG in Barcelona reiterated our commitment and focus to the online gaming sector, and I believe we are progressing well in one of our core mission objectives, to be the preeminent provider of payment solutions for selected markets in the online gaming sector," Martin said.

NETeller has reported that overall revenue saw a decrease from last years third quarter of 75%, but once North America is excluded, positive growth in the company is evident, showing that European revenues grew by 19% and Asia Pacific revenue grew by 40%.

With their product development program and furthering they're payment options, NETeller seen progress in 2007's third quarter.

"A key update introduced at the end of the quarter was a simplification of the sign up process designed to improve new customer conversions," as stated in a release.