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Moneybookers Fastest Growing E-Wallet

By: Adam Richards, Friday September 25th 2009
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On September 20 the Sunday Times released its ninth annual Tech Track 100 league table sponsored by Microsoft. The table ranks the fastest growing technology companies in Britain based on the growth in sales over the last three years from 2005/06 to 2008/09. Growth rates of the hundred companies ranged from 38% pa to 189% pa, with sales between £5m and £30m. Moneybookers, the popular online payment company, was at number six.

Moneybookers registered a growth rate of 152.4% in the relevant period. The sales increased from £1.7m to £27.4m. What is creditable is that this performance was achieved despite the fact that Moneybookers was forced to withdraw from the United States online gambling market because of the UIGEA. Moneybookers reported a profit margin of 54%, which was the highest by any of the companies featuring in this table.

Moneybookers was launched in 2001. Today it claims to service over 45,000 merchants, many of them being the leading online casino operators of the industry. Moneybookers has more than nine million account holders, of which a significant number are online gamblers. The online payment company has a worldwide network spanning over 200 countries and offering over 80 payment options. It was a pioneer in the e-wallet business, being the first one to be issued a license from the FSA of the United Kingdom. Its growth is not only reflected in increased turnover, but also in the fact that more than 12,000 customers sign up with Moneybookers every day.

The company is obviously thrilled with this ranking. The co-CEO of the company, Nikolai Riesenkampff, said, "This top ten ranking positions us at the forefront of technology companies in the UK and comes on top of the recognition we received at this year's Media Momentum Awards. Our growth rate shows no sign of slowing as we continue to expand, increasing our reach and developing new products." An awards ceremony will be held in November 2009 to honor the companies that made it to the top of The Sunday Times Microsoft Tech Track 100 league table.

Moneybookers is aware of its larger responsibility to society. Last month it tied up with GlobalGiving to enable online players using its services to donate to charities online. Players can contribute to any of GlobalGiving's vetted charity projects by combining a donation with their remittances to online casinos. The minimum donation required to be made is £5.00. Players who make donations will be updated by e-mail on the status of the work being carried out by their chosen beneficiaries.

Most of the leading online casinos accept payments through Moneybookers. Some of the top names are Spin Palace Casino, Slots Oasis Casino, Roxy Palace Casino, All Slots Casino, Sloto' Cash Casino and Cherry Red Casino.

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Comment by: Amber On: September 25, 2009
I prefer credit card but I have just signed up for an account with Moneybookers and so far so good. I was however hoping they'd have a debit card or something which they unfortunately don't right now but hopefully this is something they might consider doing at some point in the near future.
Comment by: Brady On: September 25, 2009
They've been an up and comer for a long time now it's great to see that they're doing so well. It's a great solution it's a shame though that they don't allow players from the United States to take advantage of it. Hopefully this will change at some point in the near future but if not for everyone else it's still a great option to use for both making deposits at online casinos and for withdrawal.

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