Payments rise for online firm

Oliver Smith
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OPTIMAL Payments, the online credit card processing firm, saw an eightfold increase in half-year profits to $15.5m (£9.7m) from last year’s $1.7m, it reported yesterday.

Revenues for the group rose 50 per cent to $118.4m from sales of its Neteller e-wallet business and growing Asian market.

The company, which helps customers use credit card, debit card and direct debit processing through a proprietary online gateway, said it will continue to look at new ways to develop the growing business.

“We will continue to assess M&A opportunities that provide a strategic fit at the right valuation to further accelerate our growth,” said chief executive Joel Leonoff.