Digital and e-wallets are becoming more and more popular for making online payments, especially on online gaming platforms. India has its own set of e-wallets like Paytm and PhonePe, which enjoy a lot of popularity. On researching online betting and gambling, we often come across digital wallets like Skrill and Neteller. So, as Indian residents, can we use them, or is Neteller banned in India?
Read on to find out what the current situation is.
Is Neteller banned in India?
The simple answer to this is no, Neteller is not banned in India, and you can use it like any other digital wallet to carry out your payments.
Neteller was established in Canada in the year 1999, and later moved it’s headquarters to Isle of Man in 2004. It was acquired by the Paysafe group in 2015, a company which also owns another famous e-wallet, Skrill. Neteller was one of the first companies to work with online gambling companies, as a payments vendor. Within a short span of time, it was processing more than 85% traffic of online betting and gambling payments.
The company allows transactions in more than 26 different currencies, and accept transfers via more than 40 different methods, including bank transfers, credit and debit cards etc. There are more than 23 million users currently on the Neteller platform.
Neteller also offers a prepaid debit card, in partnership with MasterCard, known as Net+ card. The advantage of using a prepaid card over a normal credit or debit card is that each prepaid card has a unique number, which prevents any potential fraud.
Neteller’s partnership with MasterCard also allows users to make payments on POS machines using the Net+ card.
The company runs a VIP program by the name of Neteller VIP, which gives users increased transaction limits, and cashback points, which can be converted to real money and spent.
Is Neteller banned in India? It absolutely is not! We recommend you give it a shot yourself.