| NETeller acquires minority stake in Australian based Centricom |
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| Written by Thomas Jensen | |||||||
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Thursday, 16 August 2007
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 It looks as though it is business as usually for online money transfer company NETeller PLC. In a recent press release, the former embattled internet gambling payment services provider announced it has acquired a minority stake in Australian payment provider Centricom.NETeller has agreed to invest $5 million (AUD) and will receive a seat on Centricom's board of directors. Centricom operates the POLi™ payment platform in Australia and New Zealand. The move was designed to bolster NETeller's presence in the Asia Pacific region. Centricom Pty Limited is an Australian company based in Melbourne that provides a range of web-based transaction services, including online payments, straight-through processing, reconciliation and advanced transaction integration solutions. Ron Martin, President & Chief Executive Officer of NETELLER, said “We are pleased to cement our existing relationship with Centricom through this investment. We look forward to working with Centricom to drive the business through its next phase of growth. NETELLER will continue to seek out strategic relationships with companies such as Centricom who offer compelling products and services that enhance our innovative online payment solutions to our global customers and merchants.” Simon Warner, Managing Director of Centricom, said “We welcome the investment from NETELLER as a milestone in our development which will enable us to roll out the POLi service to more merchants and build further consumer brand awareness. This partnership is further evidence that Centricom is serious about being the major provider of online payments in Australia, New Zealand and beyond.” About Centricom. Earlier this month, NETeller announced had incorrectly stated in the company’s 2006 Annual Report that their European revenue grew to $23.8 million US. In actuality it grew to $32.6 million US or 25% stronger than initially realized.                        |
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| Last Updated ( Thursday, 16 August 2007 ) | |||||||