In its first-quarter trading update, payments processor Neteller has seen average daily receipts soar to US$4.7m (£2.5m) from US$2.87m in the same period last year.
Average daily sign-ups for the quarter were 3,609, while total customers at quarter end were over 2.6 million. Total revenues were up 69% to US$57.9 over the period while the company achieved gross margins of 73.5%.
The company added that current trading was in line with seasonal variations and analyst expectations for 2006. The company said the results demonstrated the potential of the firm’s ‘deepen and extend’ strategy.
Also this week, Neteller has expanded across Europe and now offers local language and euro payment options, with a 24-hour resident-speaking helpdesk facility. It has also expanded its Asian offering and overhauled its existing technology with a Java platform.
The German, French, Spanish and Italian versions are indicative of a European-wide expansion strategy from the money transfer service provider.
Neteller’s English-only site has 3,400 merchants across 160 countries, and has more than 2.6 million customers.
As well as the four European countries getting their own language sites, Neteller has also announced the availability of its 1-Pay payments platform in Asia. Already present in Japan since 2005, Neteller hopes to capture the burgeoning Asian market with its payment platforms.
Ron Martin, president and chief executive, said: “I am delighted we can now offer the most trusted and secure online payment service to these important geographies. This is another milestone in Neteller’s pursuit of deepening and extending its service within a greater number of countries and market sectors.”
Since the European launches, the company has reported positive results from Germany and France in terms of new customer sign-up rates.
source egrmagazine
