Visa Delta and Electron cards boost Neteller’s e-wallet

Online e-cash processor Neteller has added Visa Delta and Electron cards to its stable of credit and debit cards supported by its e-wallet, and the Isle of Man based company has introduced new security measures for Visa and Mastercard customers.

The move means that sites using Neteller’s system will have access to the large Visa debit card market which, according to Neteller accounts for 41 percent of all European debit card transactions.

Paul Templeman, president of European operations at Neteller said: “This is something we always knew we had to offer. In many countries in Europe, debit card ownership is very significant. UK customers are much more used to credit. In Germany, for example, credit card use is much less prevalent.”

Electron and Delta cards are one of the two major debit card providers, with Switch/Maestro as the main competitor. Debit cards also have lower processing costs than credit cards for retailers.

Neteller’s new security features for credit card transactions will include a service which will give credit card companies and individuals the opportunity to independently verify purchases online, and by doing so have a greater amount of control over personal customer security.

Templeman said: “We are also launching ‘3D-Secure’, which is known to Visa as ‘Verified by Visa’ and to MasterCard as ‘SecureCode’. Customers will register with their own bank, and to use the service they will send their username and password to the bank. This has two benefits: additional protection for the consumer and reducing bad debt.”

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