Skrill
Skrill Limited
Private
IndustryOnline payments
Founded27 July 2001 (2001-07-27)
Headquarters25 Canada Square, London, United Kingdom
Area served
Worldwide
Key people
David Sear CEO
ProductsPayment gateway
Digital wallet
Prepaid card
PSP
RevenueIncrease $331 million (2014)[1]
Number of employees
700+ (2014)
ParentPaysafe Group
Websiteskrill.com

Skrill (formerly Moneybookers) is an e-commerce business that allows payments and money transfers to be made through the Internet, with a focus on low-cost international money transfers.[2]

It is owned and operated by Skrill Limited, a UK-based company registered as a Money Service Business with Her Majesty's Revenue and Customs, regulated by the Financial Conduct Authority and licensed to operate within the European Union.[3][4]

History

On 27 July 2001, Moneybookers Limited was incorporated in the United Kingdom.[5] In March 2007, Moneybookers was bought by Investcorp for EUR105 million[6] and as of 9 March 2009, it was put up for sale by its owners for an estimated £365 million.[7]

In February 2010, The Sunday Times ranked Moneybookers as the fastest growing private equity backed firm in the United Kingdom based on profits.[8] In 2011, the company's customer base reached 25 million, including 120,000 merchant accounts,[9] its payment gateway being integrated by a number of global online brands such as Facebook, Skype and eBay.[10][11]

In September 2011, Moneybookers announced that they would rebrand their service as Skrill.[12] The rebranding of the product was completed in 2013.[13]

In February 2013, Skrill completed the acquisition of Austrian-based prepaid payment method paysafecard.[14]

In August 2013, CVC Capital Partners acquired Skrill for EUR600 million.[15] As of 2014, Skrill has been approved by the New Jersey Division of Gaming Enforcement (NJDGE) as the only sanctioned digital wallet for New Jersey internet gambling.[16]

In March 2015, Optimal Payments, the parent company of the Skrill's rival Neteller, announced its official proposal for acquisition of Skrill Group for EUR1.1 billion. The deal is to be finalized in the third quarter of 2015 according to the parties.[17] In April 2015, Skrill Group announced that it had completed acquisition of Ukash, a UK-based competitor of paysafecard, which got merged during the same year.[18]

Service

Skrill accounts can be held in any of major currencies but once the first transaction is made it is not possible to change the account's currency.[19] Customers can purchase a Skrill-branded prepaid card, linked to the account, in one of the four currencies: USD, EUR, PLN, and GBP.[20] High-turnover customers are offered premium membership called "Skrill VIP" that includes additional features, such as a security token, multi-currency accounts and the ability to earn loyalty points.[21]

Criticism

The non-profit Better Business Bureau currently has Skrill USA with a "D-" rating as of April 2016, the result of 66 complaints closed with BBB in last 3 years. As of July 2018, CardPaymentOptions has rated Skrill with 3 out 5 based on numerous customer complaints, where in many instances the company withheld funds from customers and merchants.[22][23][24]

WikiLeaks Blockage

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.[25]

References

  1. ^ "Proposed acquisition by Optimal Payments of Skrill to create a leading global player in online payment and digital wallets services" (PDF). Retrieved 2015.
  2. ^ "Skrill Holdings Limited: Private Company Information". Retrieved 2015.
  3. ^ "Skrill - TotallyGaming.com". Archived from the original on 2 April 2015. Retrieved 2015.
  4. ^ "Skrill (Moneybookers) - Crunchbase". Retrieved 2015.
  5. ^ "Company information for SKRILL LIMITED (04260907) incorporated 27-07-2001". Retrieved 2018.
  6. ^ "Investcorp Technology Partners Undertakes Buyout of Moneybookers Limited for EUR105 Million" (Press release). 28 March 2007. Retrieved 2018.
  7. ^ "Investcorp to sell Moneybookers". Telegraph.co.uk. 9 March 2009. Retrieved 2018.
  8. ^ "Buyout Track 100" (PDF). The Sunday Times. 7 February 2010. Retrieved 2018.
  9. ^ "Skrill's customer base has reached 25 mln in 2011". 19 March 2012. Retrieved 2018.
  10. ^ Stafford, Philip (8 March 2009). "Moneybookers up for sale". Financial Times. Retrieved 2018.
  11. ^ "eBay, Moneybookers & Paymate - Amazon launch FPS". Tamebay. 6 February 2009. Retrieved 2018.
  12. ^ "Skrill - The New Face of Moneybookers". Branding. 29 September 2011. Retrieved 2018.
  13. ^ "Our company - Skrill". Retrieved 2018.
  14. ^ Moss, Karen (11 February 2013). "Skrill acquires paysafecard.com". retail-systems.com. Retrieved 2018.
  15. ^ Williams, Christopher (19 August 2013). "CVC buys PayPal rival Skrill for £500m". The Telegraph. Retrieved 2018.
  16. ^ Hannah Elisabeth (18 December 2014). "US Online Poker, New Jersey, and Skrill USA : What's in Store for 2015?". CardsChat. Retrieved 2018.
  17. ^ "Neteller Acquires Skrill". 25 March 2015. Retrieved 2018.
  18. ^ "Skrill Group completes Ukash acquisition" (Press release). Finextra. 1 April 2015. Retrieved 2018.
  19. ^ "Online Casinos that Accept Skrill / Moneybookers". Retrieved 2015.
  20. ^ "Skrill MasterCard". Retrieved 2015.
  21. ^ "Skrill VIP". Retrieved 2015.
  22. ^ "Skrill Review". CardPaymentOptions.
  23. ^ "Skrill Reviews". Trust Pilot.
  24. ^ "Independent Review of Skrill". Monito.
  25. ^ Leigh, David; Evans, Rob (14 October 2010). "WikiLeaks says funding has been blocked after government blacklisting". The Guardian. Retrieved 2015.

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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