Neteller Surprises With Bitcoin Deposit Option

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Last updated on March 30th, 2015 at 06:11 pm

A Neteller representative confirmed that the payments processor and prepaid card provider has added a Bitcoin deposit feature.

Neteller had revised its terms of use policy to prohibit the “trade, exchange, purchase or sale of Bitcoins, or any other virtual currency.” The new feature represents a significant policy change.

Service users have since taken to social media to advertise the the website’s Bitcoin option. The Neteller spokesperson said that the subject of user reports was probably the integration’s first stage.

“It is brand new,” the representative said, declining further comment.

According to a March 25 press release from Optimal Payments, Neteller’s parent company, the integration was conducted in partnership with Bitcoin payments processor BitPay.

Optimal Payments president and CEO Joel Leonoff issued a statement:

Neteller already provides merchants and customers a broad and diverse set of online payment options and the addition of Bitcoin gives them another valuable payment method to help convert more transactions. We recognize the important role that crypto-currencies play in the future of payments and we look forward to working with BitPay as the acceptance rate grows.

Earlier this week, Optimal Payments announced an agreement to purchase Skrill, a provider of prepaid cards, for €1.1 billion.

Neteller has long served a number of well-known sites in the online gaming industry. Consequently, the representative added that the Bitcoin deposit feature will not at first be available to US users.

Image via Flickr by Lisa Cyr

Coinbuzz

CoinBuzz provides news and analysis on Bitcoin and other digital currencies. Founded in 2014, the site has quickly become a leading source of information on digital currency technologies, businesses, markets, and regulation.
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