Alternative Payment Solution: Skrill

Alternative Payment Solution: Skrill

Summary

Skrill is a global payments solution provider headquartered in London. It was founded in 2001 as Moneybookers, and renamed as Skrill in 2010. It allows users to store payment details in the Skrill digital wallet, which they can use to make payments for online purchases. Users can register debit and credit cards, bank accounts, or other payment options such as paysafecard and POLi with the wallet for future payments. Consumers can also make payments with their Skrill account balance.

Skrill also offers faster checkout using Skrill 1-Tap using saved payment instruments or the Skrill account balance. Users can make a payment with a single click without logging into their Skrill account. As of August 2017 Skrill had nearly 20 million digital wallet holders.

Skrill allows merchants to accept payments from more than 20 local payment methods. It is supported by all major card schemes - Mastercard, Visa, American Express, Diners Club and JCB - as well as by 80 banks globally. Skrill also offers P2P payments, allowing users to send money locally and to 200 markets globally in 40 different currencies.

In collaboration with Mastercard, Skrill offers prepaid cards that can be used for cash withdrawals at 1.9 million ATMs as well as for online and in-store payments at more than 35 million locations globally. These cards are offered with contactless technology in a handful of countries, including the UK, Bulgaria, Poland, France, Italy, and Germany. It has expanded its portfolio by acquiring various payment solutions, including paysafecard in February 2013 and Ukash in April 2015. In August 2015, Skrill was acquired by Optimal Payments, which subsequently changed its name to Paysafe Group.

The report provides information and insights into alternative payment solution Skrill, including -
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance, including its revenue model
- The company's important events and milestones

Scope

- In June 2001, founded as Moneybookers and later rebranded as Skrill.
- In August 2015, Skrill was acquired by Optimal Payments.
- In October 2016, replaced old prepaid cards with new Skrill Prepaid Mastercard.
- As of August 2017 Skrill had nearly 20 million digital wallet holders.

Reasons to buy

- Gain insights into Skrill's business operations, and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.