E-Cash Processors Striking It Rich
Published: Saturday, July 02, 2005 Online-Casinos.com
PROCESSORS STRIKING IT RICH
The essential link
That critical element in online gaming - e-cash processors - are cashing in on
the increasing popularity of Internet gambling, says EGR Magazine this week, examining
some of the market leaders.
UK-based based Moneybookers is on course to reach 1 million account holders by
July, reports EGR as the alternative payment sector continues its spectacular
growth.
The firm, which is owned by the same venture capital firm as sportsbook Gamebookers,
has reached the landmark figure in just under four years.
And it will be seen as further evidence of huge growth in the alternative payment
sector, following the successful flotation of competitors FireOne and NETeller.
Growth remains strong at Isle of Man-based NETeller, which has over 1.5 million
members and reported quarterly profits of US$18.2m in its Q1 results.
NETeller has been one of the year’s big success stories on the London Stock
Exchange’s Alternative Investments Market (AIM), with its value almost doubling
since the beginning of the year.
Canadian firm FireOne, the parent company of e-wallet Firepay, has also seen its
share price rocket since listing on AIM at the beginning of June.
FireOne was trading at 320p this week, a rise of almost a third from its listing
price of 241p.
Watch out for a new venture from Google, too - the company is expected to launch
its e-wallet system in the next few weeks, but the firm is unlikely to offer the
service to gambling merchants.
