NETeller added 588,520 customers in the first half taking its total to 2.91m from 2.32m customers at the end of last December. The number of merchant firms using neteller service exceeded 3,500 at the end of June. Evolution says Neteller 2Q '06 average daily receipts and average daily web wallet sign ups are both markedly lower than its forecasts. This year Neteller launched its 1-Pay payments platform in Asia, as well as new products in Europe which offer local language and Euro payment options, with a 24-hour resident-speaking Neteller helpdesk facility.
NETELLER also offers many payment options that other online systems do not, including regionally-specific options for North American and European clients (e.g. Internet banking). But, with bets still being taken on whether an anti-gambling US administration will crack down on internet gaming, NETeller continues to look a risky punt. At 9.8 times this year's expected earnings and just 7.7 times next year's forecasts, online payment firm NETeller shares look cheap against the wider online gaming sector.