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Neteller, the money transfer system developed to bypass the credit card and now the popular e-cash processor, issued a bullish trading update this week, announcing amazing fourth quarter results and new customer sign up figures. The company, which is based in the Isle of Man, reported that their average daily receipts during the last quarter were around US$4.1 million, compared with US$2.3 million for the same period in 2004. Average daily receipts for the fourth quarter were up by 15% on the third quarter figure of US $3.64 million. Average daily receipts from customers for the full year 2005 was US$3.4 million, up by 90 percent on average daily receipts for 2004 of US $1.8 million. At the end of 2005, Neteller had 2,320,670 registered customers, an increase of 1,069,318 or 86 percent from 1,251,031 on 31 December 2004. Every day during the fourth quarter last year, an average of 3,197 customers signed up, an increase of 54 percent over the corresponding period in 2004. Newly-appointed president and chief executive of Neteller, Ron Martin, said: “Neteller has continued to show excellent growth across all areas of the business in the fourth quarter and I am sure that the full year’s results will demonstrate the continuing strength of the company.” Related Links: Posted on: February 6, 2006
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