Net Bet Blog

Neteller (NLR) the payments processor continues to grow and was tipped in the Scotsman on 22nd June 2008.

I am a supporter of NLR and use it frequently. I have yet to pay them anything but use the service to transfer funds into my online gaming accounts. A little too much money going out from my bank to NLR to gaming site and not the other way round for my liking but at least NLR are great at doing their part.

The surprise is the share price. NLR is a well known brand and growing. This is one I am keeping a close eye on. Takeover rumours are never far away. I would argue NLR would fit very well into 888's expansion and B2B programme but it would cost them a pretty penny.

Neteller growth pays off [Scotsman]

THE online payments industry is growing fast and Neteller claims to be one of the best placed to take advantage. Shares in the company, the world's largest independent money transfer business used by individuals and retailers, soared on a strong trading update last month.

It reported that April fee revenues were up by 15% on the previous month and that efforts to broaden its product range were paying dividends.

Shares rose to a year high of 73p after the update but have since fallen to around 60p. Last week three directors increased their stakes, suggesting they believe the fall is temporary.

President and chief executive Ron Martin bought 50,000 shares to bring his holding to 60,000. Chairman Dale Johnson bought 16,000 shares to increase his holding to 25,000.

Non-executive director Don Lindsay bought his first stake in the company with the purchase of 20,000 shares. All were bought for around 60p each.

Lord Sheppard, non-executive chairman of recruitment and human resources business OneClickHR, has upped his holding in the company despite a recent rise in its share price. He bought 250,000 shares at 4.35p each and now holds 4.5 million.