Company:Skrill

From HandWiki
Short description: E-commerce payment business
Skrill, a Paysafe company
TypePublic company
IndustryOnline payments
Founded27 July 2001; 22 years ago (2001-07-27)
HeadquartersLondon, United Kingdom
Area served
Worldwide
Key people
Bruce Lowthers (CEO)[1]
ProductsPayment gateway
Digital wallet
Prepaid card
PSP
Cryptocurrencies
Money transfer
RevenueIncrease US $1.496 billion (Paysafe’s FY 2022 revenue)[2]
Number of employees
3,300
ParentPaysafe
Websiteskrill.com

Skrill is part of Paysafe Limited, a global payments platform. It is one of Paysafe's digital wallet brands and was established in 2001 to offer multiple online payment and money transfer services.[3] Skrill operates in more than 100 countries with the digital wallet offered in more than 40 currencies.[4][5] The company facilitates multiple payment options including card payments, bank transfers and local payment methods. The funds in a Skrill account can then be used to pay merchants and other Skrill users or converted into cryptocurrency.

Skrill also has cross-border payments accessible to users via its remittance service.[6] The service enables users to send money to a bank account overseas using their bank card.

In 2015, Skrill was acquired by Paysafe [7][8] along with former competitor NETELLER and prepaid payment provider paysafecard.[9]

Skrill is operated by Paysafe Payment Solutions Limited, a company incorporated in Ireland and regulated by the Central Bank of Ireland,[10] for its European regulated activities. Skrill's activities outside the European Economic Area are operated by Skrill Limited – a company incorporated in the United Kingdom and regulated by the Financial Conduct Authority.[11]

History

Early history (2001 to 2015)

Skrill, formerly known as Moneybookers, was founded in 2001 in the United Kingdom as a digital wallet provider.[12] By 2007, it had become established as one of the top three e-payment solution providers in Europe[13] when it was purchased by Investcorp in March of that year.[14] In August 2010, Skrill blocked an account operated by WikiLeaks as a donation collection account, citing the organisation's addition to Australian blacklists and American watchlists.[15] In September 2011, Moneybookers announced that they would rebrand their service as Skrill, completing the rebrand in 2013.[16] As Skrill, they completed the acquisition of Austrian-based prepaid payment method paysafecard in February 2013,[17] before being acquired by CVC Capital Partners for €600 million in August 2013.[18]

In 2009, Skrill, then known as Moneybookers, suffered a large security breach which exposed the data of almost 4.5 million customers. The breach was not discovered until October 2015 and included names, e-mail addresses, home addresses and IP addresses.[19]

Paysafe subsidiary (2015 onwards)

In 2015, Skrill was acquired by Optimal Payments, the parent company of rival digital wallet NETELLER, for €1.1 billion.[20] During this period, Skrill Group announced in April 2015 that it had completed the acquisition of Ukash, a UK-based competitor of paysafecard, which was merged during the same year.[21] In November 2015, Optimal Payments rebranded as Paysafe.[22]

In 2018, Skrill began to extend the amount of services offered to its users, launching an international money transfer service in February 2018,[23] and a crypto service in July 2018 allowing users to buy and trade cryptocurrencies.[24] This was followed by the launch of Skrill's customer loyalty programme, KNECT, in November 2019[25] and the extension of the international money transfer service to US users in June 2020.[26]

Sponsorship and relationships

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.[27]

In July 2013, English football's National League signed a one-year sponsorship deal with Skrill[28] 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.[29]

In March 2021, Skrill announced a new partnership with the English Premier League football team Leeds United.[30][31]

Service

Skrill is a digital multi-currency wallet that handles online payments and money transfers.[32]

Awards

Skrill was named ‘Best Digital Wallet’ at The Digital Banker’s Global Payments Innovation Awards 2023 and the Juniper Research Future Digital Awards 2019.[32]

Paysafe, Skrill's parent company, was named one of CNBC’s World’s Top Fintech Companies 2023. Paysafe also won the ‘Payments Provider of the Year’ award at the 2023 EGR North America Awards – its third consecutive win in the category.[33]

In 2022, Paysafe was named Payment Service or Solution Provider of the Year at the VIXIO Gambling Compliance Global Regulatory Awards,[34] won in the ‘Payment Solution & Innovation of the Year’ category at the 2022 SBC Awards Latinoamérica[35] for a second consecutive year, and won ‘Payment Innovation of the Year’ at the 2022 SBC Awards North America.[36]

References

  1. ↑ "Paysafe org chart". https://theorg.com/org/paysafe. Retrieved 14 September 2023. 
  2. ↑ "Paysafe anual results 2022". https://ir.paysafe.com/regulatory-filings/all-sec-filings/content/0000950170-23-008186/0000950170-23-008186.pdf. Retrieved 14 September 2023. 
  3. ↑ "Skrill Holdings Limited: Private Company Information". https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=118905485. 
  4. ↑ "E-Wallet Comparison: Skrill serviced countries list". https://www.skrill.com/en/skrill-news/product-updates/send-money-mobile-phone-number/. 
  5. ↑ "Sending money with Skrill made easier than ever with new send to phone number feature". https://www.skrill.com/en/skrill-news/inside-skrill/send-money-mobile-phone-number/. 
  6. ↑ "Skrill Money Transfer Review: Is it safe? How does it work? What are the rates?". https://www.monito.com/en/send-money-with/skrill. 
  7. ↑ "Board of Directors" (in en). https://www.paysafe.com/en/paysafegroup/board-of-directors/. 
  8. ↑ "Skrill taps football legend to publicise its prepaid Mastercard Skrill prepaid" (in en-US). https://www.verdict.co.uk/cards-international/news/skrill-taps-football-legend-to-promote-prepaid-mastercard/. 
  9. ↑ "Optimal Payments to buy e-wallet rival for $1.2 billion" (in en). Reuters. 2015-03-23. https://www.reuters.com/article/us-sentineltopco-m-a-optimal-payments-idUSKBN0MJ0SR20150323. 
  10. ↑ "Skrill Account Terms of Use". https://www.skrill.com/en/footer/terms-conditions/skrillaccounttermsofuse/. 
  11. ↑ "Skrill Launches Free International Money Transfer Service In U.S." (in en). 2020-06-08. https://www.businesswire.com/news/home/20200608005318/en/Skrill-Launches-Free-International-Money-Transfer-Service-In-U.S.. 
  12. ↑ "Company information for SKRILL LIMITED (04260907) incorporated 27-07-2001". http://ukdata.com/company/04260907/SKRILL-LIMITED. 
  13. ↑ "Investcorp and the Moneybookers Bid". 2 Feb 2011. https://store.hbr.org/product/investcorp-and-the-moneybookers-bid/811013. 
  14. ↑ "Investcorp Technology Partners Undertakes Buyout of Moneybookers Limited for EUR105 Million" (Press release). 28 March 2007. Retrieved 26 May 2018.
  15. ↑ Leigh, David; Evans, Rob (14 October 2010). "WikiLeaks says funding has been blocked after government blacklisting". The Guardian. https://www.theguardian.com/media/2010/oct/14/wikileaks-says-funding-is-blocked. 
  16. ↑ "Moneybookers to rebrand as Skrill - hopes to become a verb". 6 Nov 2011. https://techcrunch.com/2010/11/16/moneybookers-to-rebrand-as-skrill-hopes-to-become-a-verb/?guccounter=1. 
  17. ↑ Moss, Karen (11 February 2013). "Skrill acquires paysafecard.com". http://www.retail-systems.com/rs/Skrill_paysafecard.php. 
  18. ↑ Williams, Christopher (19 August 2013). "CVC buys PayPal rival Skrill for £500m". https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/privateequity/10253182/CVC-buys-PayPal-rival-Skrill-for-500m.html. 
  19. ↑ "Gambling Darling Paysafe Confirms 7.8 Million Customers Hit In Epic Old Hacks". https://www.forbes.com/sites/thomasbrewster/2015/11/30/paysafe-optimal-neteller-moneybookers-gambling-cyberattacks-data-breach. 
  20. ↑ PYMNTS (2015-03-24). "Optimal Payments' Billion Dollar Bet On Online Gaming" (in en-US). https://www.pymnts.com/news/2015/optimal-payments-billion-dollar-bet-on-online-gaming/. 
  21. ↑ "Skrill Group completes Ukash acquisition" (Press release). Finextra. 1 April 2015. Retrieved 26 May 2018.
  22. ↑ "Optimal Payments Becomes Paysafe in Game-Changing Global Rebrand". 11 November 2015. https://www.emergingpayments.org/article/optimal-payments-becomes-paysafe-in-game-changing-global-rebrand/. 
  23. ↑ "Paysafe – Money transfers made easy with Skrill Send Direct". 2 May 2018. https://www.emergingpayments.org/article/paysafe-money-transfers-made-easy-with-skrill-send-direct/. 
  24. ↑ "Skrill opens crypto wallet". 25 July 2018. https://www.finextra.com/pressarticle/74858/skrill-opens-crypto-wallet. 
  25. ↑ "Skrill launches customer reward programme: Skrill Knect". 22 November 2019. https://europeangaming.eu/portal/press-releases/2019/11/22/59136/skrill-launches-customer-reward-programme-skrill-knect/. 
  26. ↑ "Paysafe launches Skrill money transfer in US". 8 June 2020. https://www.mobilepaymentstoday.com/news/paysafe-launches-skrill-money-transfer-in-us/. 
  27. ↑ "Skrill returns as Official Payment Provider Sponsor of European Poker Tour for Season 10". 3 July 2013. https://www.pokerstars.com/en/blog/tournaments/ept/2013/skrill-becomes-official-payment-provider-139138.shtml. 
  28. ↑ "Skrill is the new title sponsor for the Football Conference Leagues". 26 July 2013. https://www.skrill.com/en/about-us/press/details/skrill-is-the-new-title-sponsor-for-the-football-conference-leagues/?gclid=CJPn1bGn17gCFXMRtAodRRsA-A. 
  29. ↑ "AC MILAN ANNOUNCES SKRILL AS ITS OFFICIAL GLOBAL PAYMENTS PARTNER". 12 May 2020. https://www.acmilan.com/en/news/articles/sponsor/2020-05-12/ac-milan-announces-skrill-as-its-official-global-payments-partner. 
  30. ↑ "LEEDS UNITED ANNOUNCES PARTNERSHIP WITH SKRILL" (in en). 12 March 2021. https://www.leedsunited.com/news/club/27839/leeds-united-announces-partnership-with-skrill. 
  31. ↑ "Leeds United announces partnership with Skrill" (in en). https://www.paysafe.com/ca-en/paysafegroup/news/detail/leeds-united-announces-partnership-with-skrill/. 
  32. ↑ Miller, George (2019-11-04). "Skrill named Best Digital Wallet 2019 by Juniper Research" (in en-US). https://europeangaming.eu/portal/latest-news/2019/11/04/57842/skrill-named-best-digital-wallet-2019-by-juniper-research/. 
  33. ↑ Simmons, Fiona (2023-05-01). "EGR Announces 2023 EGR North America Award Winners" (in en). https://www.gamblingnews.com/news/egr-announces-2023-egr-north-america-award-winners/. 
  34. ↑ "2022 Global Regulatory Award Winners | VIXIO GamblingCompliance Global Regulatory Awards". https://gamblingcomplianceawards.com/history/global-regulatory-awards-2022/2022-global-regulatory-award-winners. 
  35. ↑ "SBC Events". https://sbcevents.com/en/sbc-awards-latinoamerica/#winners. 
  36. ↑ "Paysafe wins 'Payment Innovation of the Year' award" (in en-GB). 2022-07-20. https://gaminginternational.online/paysafe-wins-payment-innovation-of-the-year-award/. 

External links



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