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Skrill (formerly Moneybookers) is a digital wallet provider established in 2001 which offers a range of online payment and money transfer services.^[3]

Since launch, Skrill has expanded to operate in more than 120 countries with the digital wallet offered in 40 different currencies.^[4][5] Customers can upload money to their Skrill wallet using various payment options, including by card, bank transfer and a number of alternative payment methods. The funds can then be used to pay merchants, other Skrill users, or transferred into cryptocurrency.

Skrill also offers cross-border payments via its remittance service, Skrill Money Transfer.^[6] The service enables customers to send money to a bank account overseas using their bank card. In 2015, Skrill was acquired by the Paysafe Group ^[7][8] along with former competitor Neteller and prepaid payment provider paysafecard.

Skrill Login

Skrill holds a number of licenses enabling it to offer its services in Europe and globally. Skrill is operated by Paysafe Payment Solutions Limited, a company incorporated in Ireland and regulated by the Central Bank of Ireland,^[9] for its European regulated activities. Skrill’s activities outside of the European Economic Area are operated by Skrill Limited – a company incorporated in the United Kingdom and regulated by the Financial Conduct Authority.

History[edit]

Early history (2001 to 2015)[edit]

Skrill was originally founded in 2001 in the United Kingdom as Moneybookers, a digital wallet provider.^[10] By 2007 it had become established as one of the top three e-payment solution providers in Europe.^[11] when it was purchased by Investcorp in March of that year^[12] In September 2011, Moneybookers announced that they would rebrand their service as Skrill, completing the rebrand in 2013.^[13] As Skrill, they completed the acquisition of Austrian-based prepaid payment method paysafecard in February 2013,^[14] before being acquired by CVC Capital Partners for €600 million in August 2013.^[15]

Paysafe subsidiary (2015 onwards)[edit]

In 2015, Skrill was acquired by Optimal Payments, the parent company of rival digital wallet Neteller, for €1.1 billon.^[16] During this period, Skrill Group announced in April 2015 that it had completed acquisition of Ukash, a UK-based competitor of paysafecard, which was merged during the same year.^[17] In November 2015, Optimal Payments rebranded as Paysafe.^[18]

In 2018, Skrill began to expand the portfolio of services offered to its users, launching an international money transfer service in February 2018,^[19] and a crypto service in July 2018 allowing users to buy and trade cryptocurrencies.^[20] This was followed by the launch of Skrill’s customer loyalty programme, KNECT, in November 2019^[21] and the expansion of the international money transfer service to US customers in June 2020.^[22]

Sponsorship and relationships[edit]

Can't Use Skrill For Gambling

In 2011, Skrill first sponsored the PokerStars owned European Poker Tour for its eighth season, sponsoring the event again in 2013 for its tenth season.^[23]

In July 2013, English football’s National League signed a one-year sponsorship deal with Skrill^[24] with the Conference’s divisions being known as The Skrill Premier, The Skrill North and The Skrill South.

In May 2020, Skrill announced a four-year AC Milan sponsorship deal.^[25]

Service[edit]

Skrill is a digital multicurrency wallet provider for handling online payments, making transfers and storing money. It is available to any internet user over the age of 18 with a registered email address.

Supporting over 40 currencies, the service is used to make payments and withdrawals across trading, e-commerce and online gaming platforms.^[26] Skrill customers can also use their account to transfer funds from their personal bank account to a bank account overseas, send money using only an email address or phone number, and buy and sell cryptocurrency.

Skrill Payments

Customers in certain locations can obtain a Skrill Card linked to their account. The card lets customers use their account balance to pay in stores or online where Skrill is not listed as a payment option. The Skrill Card can also be used to withdraw cash at ATMs.

Customers who meet certain spending thresholds are offered Skrill VIP membership^[27] which includes lower fees, higher transaction limits and dedicated support, among others. Skrill offers a loyalty programme called Knect,^[28] enabling customers to earn loyalty points that can be exchanged for cash vouchers.

WikiLeaks blockage[edit]

In August 2010, Skrill blocked the account operated by WikiLeaks as a donation collection account, citing the organisation's addition to Australian blacklists and American watchlists.^[29]

How To Use Skrill For Gambling

References[edit]

1. ^'Proposed acquisition by Optimal Payments of Skrill to create a leading global player in online payment and digital wallets services'(PDF). Retrieved 26 March 2015.
2. ^'About Us'. Paysafe. Retrieved 5 June 2019.
3. ^'Skrill Holdings Limited: Private Company Information'. Retrieved 26 March 2015.
4. ^'E-Wallet Comparison: Skrill serviced countries list'. Retrieved 29 January 2021.
5. ^'Sending money with Skrill made easier than ever with new send to phone number feature'. Retrieved 29 January 2021.
6. ^'Skrill Money Transfer Review: Is it safe? How does it work? What are the rates?'. Retrieved 29 January 2021.
7. ^'Board of Directors'. Paysafe. Retrieved 1 February 2019.
8. ^'Skrill taps football legend to publicise its prepaid Mastercard Skrill prepaid'. Cards International. Retrieved 30 April 2020.
9. ^'Skrill Account Terms of Use'. Retrieved 29 January 2021.
10. ^'Company information for SKRILL LIMITED (04260907) incorporated 27-07-2001'. Retrieved 26 May 2018.
11. ^'Investcorp and the Moneybookers Bid'. hbr.org. 2 February 2011. Retrieved 1 March 2021.
12. ^'Investcorp Technology Partners Undertakes Buyout of Moneybookers Limited for EUR105 Million' (Press release). 28 March 2007. Retrieved 26 May 2018.
13. ^'Moneybookers to rebrand as Skrill - hopes to become a verb'. 6 November 2011. Retrieved 4 February 2021.
14. ^Moss, Karen (11 February 2013). 'Skrill acquires paysafecard.com'. retail-systems.com. Retrieved 25 June 2018.
15. ^Williams, Christopher (19 August 2013). 'CVC buys PayPal rival Skrill for £500m'. The Telegraph. Retrieved 26 May 2018.
16. ^'Neteller Acquires Skrill'. 25 March 2015. Retrieved 26 May 2018.
17. ^'Skrill Group completes Ukash acquisition' (Press release). Finextra. 1 April 2015. Retrieved 26 May 2018.
18. ^'Optimal Payments Becomes Paysafe in Game-Changing Global Rebrand'. 11 November 2015. Retrieved 1 March 2021.
19. ^'Paysafe – Money transfers made easy with Skrill Send Direct'. 2 May 2018. Retrieved 1 March 2021.
20. ^'Skrill opens crypto wallet'. 25 July 2018. Retrieved 1 March 2021.
21. ^'Skrill launches customer reward programme: Skrill Knect'. 22 November 2019. Retrieved 1 March 2021.
22. ^'Paysafe launches Skrill money transfer in US'. 8 June 2020. Retrieved 1 March 2021.
23. ^'Skrill returns as Official Payment Provider Sponsor of European Poker Tour for Season 10'. 3 July 2013. Retrieved 1 March 2021.
24. ^'Skrill is the new title sponsor for the Football Conference Leagues'. 26 July 2013. Retrieved 1 March 2021.
25. ^'AC MILAN ANNOUNCES SKRILL AS ITS OFFICIAL GLOBAL PAYMENTS PARTNER'. 12 May 2020. Retrieved 1 March 2021.
26. ^'Pay online'. Skrill. Retrieved 1 December 2020.
27. ^'VIP Rewards Programme'. Skrill. Retrieved 1 December 2020.
28. ^'Knect® - The Skrill Loyalty Program'. Skrill. Retrieved 1 December 2020.
29. ^Leigh, David; Evans, Rob (14 October 2010). 'WikiLeaks says funding has been blocked after government blacklisting'. The Guardian. Retrieved 26 March 2015.

External links[edit]

• Media related to Skrill at Wikimedia Commons
• Official website