Days after Optimal Payments, the group behind the Neteller brand, announced that it was buying rival Skrill for €1.1 billion, more news arrived from the firm. In what is being billed as a surprise move, Neteller has begun to support bitcoin for deposits. With the integration, users will be able to choose bitcoin as a 0% fee form of deposit to fund their Neteller accounts.
Once funded, Neteller provides currency conversions allowing accounts to hold funds in over 20 currencies, including the majors ones such as the US dollar, euro, yen and pound, as well as from emerging markets with the Mexican peso, Indian rupee, Russian ruble and Tunisian dinar. In addition to its accounts being a popular form of payment among many online service firms such as online brokers and casinos and eCommerce companies, Neteller issues prepaid credit cards which operate on the Master Card network.
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The addition of bitcoin deposits is being viewed as somewhat of a surprise as management initially had been reluctant to add support for the digital currency. However, not believed to be added as yet is the ability to process bitcoin withdrawals, with service limited to deposits. Nonetheless, bitcoin support does provide a recognized payment option for bitcoin holders to purchase and fund pre-paid credit cards as well as to issue deposits to the many online trading and casino firms that still don’t support bitcoin deposits.