Competitor Profile: Skrill 2024

Competitor Profile: Skrill 2024

Summary

Skrill is a global payment solutions provider headquartered in London. It allows users to store payment details in a Skrill Digital Wallet, which they can use to make payments for online purchases. Consumers can also make payments with their Skrill account balance and register debit and credit cards, bank accounts, and other payment options such as paysafecard within the wallet for future payments. In addition, Skrill 1-Tap enables customers to make payments from their Skrill account with a single click, without needing to authorize the payment every time. Payments are charged to a linked debit or credit card or made via direct debit.

Skrill allows merchants to accept payments via more than 100 payment methods. It is supported by all major card schemes, as well as more than 3,000 banks globally. The company also offers P2P payments, allowing users to send money both locally and to 200 markets globally. The funds are credited to the recipient’s Skrill account balance. Skrill also allows users to transfer funds to bank accounts and mobile wallets globally, enabling Skrill users to send money directly to recipients’ bank accounts and mobile wallets.

In July 2018, Skrill introduced a new feature allowing its users to buy and sell cryptocurrencies including Bitcoin, Bitcoin Cash, Ripple, Ethereum, and Litecoin using over 40 fiat currencies available in their Skrill wallet. Skrill expanded the service to the US in partnership with cryptocurrency exchange platform Coinbase in March 2021, and in June 2022 it added Polkadot cryptocurrency to its offering.

The report provides information and insights into Skrill including-

• Detailed insight into its business
• Comprehensive coverage of its products and services
• Comparative assessment with key alternative payment solutions
• Information on its Revenue Model
• The company's important events and milestones

Scope

• In June 2001, Skrill founded as Moneybookers in London.
• In November 2010, Moneybookers rebranded as Skrill.
• In November 2019, Paysafe Group launched Skrill Knect in 30 European countries. This loyalty program offers cash vouchers, rewards, and discounts in exchange for points earned by making payments using Skrill.
• In June 2022, Skrill added Polkadot cryptocurrency to the Skrill wallet.
• In April 2024, Skrill partnered with MyBank, an instant payment service provider in Italy, to make MyBank a funding option for Skrill Wallet.

Reasons to Buy

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