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NETeller - FSA approval triggers share surge

December 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • NLR
The shares surged 73p over three consecutive trading days after NETeller announced it had received authorisation from the Financial Services Authority (FSA) to operate as a regulated e-money issuer. The surge reflects the fact that NETeller can "passport" this regulated status into all 25 EU member states, thus opening up a vast number of new places to sell its on-line payment processing solutions. Currently,only a small fraction of its business is derived from customers outsidethe US.   FSA approval will also help NETeller fulfil its stated aim of becoming a full Internet bank, offering services to its members, such as credit cards, small loans and insurance services.  NETeller's extra credibility from FSA regul ...

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