Skrill - Competitor Profile

Skrill - Competitor Profile

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 August 2020, Skrill launched money transfers using phone numbers.

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.

In collaboration with Mastercard, Skrill offers prepaid cards that can be used for cash withdrawals at 2.1 million ATMs and for online and in-store payments at more than 35 million locations globally. In March 2022, Skrill partnered with Apple Pay, enabling Skrill Mastercard prepaid card holders to add their card to Apple Pay and make contactless payments using their phone.

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 April 2015, Skrill completed the acquisition of Ukash, a UK-based online payment provider. The acquisition helped Skrill expand its prepaid business by merging it with paysafecard.
• In February 2019, Paysafe Group launched a unified platform for online gambling and betting providers, enabling players to make payments through Skrill, NETELLER, and paysafecard.
• In April 2023, Skrill partnered with Portuguese mobile wallet MB WAY, allowing Skrill users to add money to their Skrill wallet via MB WAY.

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.