NETeller buys minority stake in Centricom

NETeller completed its acquisition of a minority stake in Australian payment processor Centricom this week. The $4 million deal gives NETeller a seat on the board and significant foothold in Australia and the Asian Pacific markets.

Centricom operate the POLi e-wallet in Australia and New Zealand. NETeller, which has been offering POLi since January, is eager to continue the relationship.

"We are pleased to cement our existing relationship with Centricom through this investment," said NETEller CEO Ron Martin in a statement. "We look forward to working with Centricom to drive the business through its next phase of growth."

POLi is also available in South Africa, where it is run by Centricom partner ATM Solutions.