Skrill

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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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Skrill operates in more than 100 countries with the digital wallet offered in more than 40 currencies.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The service enables users to send money to a bank account overseas using their bank card.

In 2015, Skrill was acquired by Paysafe <ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> along with former competitor NETELLER and prepaid payment provider paysafecard.<ref>Template:Cite news</ref>

Skrill is operated by Paysafe Payment Solutions Limited, a company incorporated in Ireland and regulated by the Central Bank of Ireland,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

History

Early history (2001 to 2015)

Skrill, formerly known as Moneybookers, was founded in 2001 in the United Kingdom as a digital wallet provider.<ref name="ch_moneybookers">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> By 2007, it had become established as one of the top three e-payment solution providers in Europe<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> when it was purchased by Investcorp in March of that year.<ref>Template:Cite press release</ref> 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.<ref>Template:Cite news</ref> In September 2011, Moneybookers announced that they would rebrand their service as Skrill, completing the rebrand in 2013.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> As Skrill, they completed the acquisition of Austrian-based prepaid payment method paysafecard in February 2013,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> before being acquired by CVC Capital Partners for €600 million in August 2013.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.<ref name="data_breach">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Paysafe subsidiary (2015 onwards)

In 2015, Skrill was acquired by Optimal Payments, the parent company of rival digital wallet NETELLER, for €1.1 billion.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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.<ref>Template:Cite press release</ref> In November 2015, Optimal Payments rebranded as Paysafe.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In 2018, Skrill began to extend the amount of services offered to its users, launching an international money transfer service in February 2018,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and a crypto service in July 2018 allowing users to buy and trade cryptocurrencies.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> This was followed by the launch of Skrill's customer loyalty programme, KNECT, in November 2019<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and the extension of the international money transfer service to US users in June 2020.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In July 2013, English football's National League signed a one-year sponsorship deal with Skrill<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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.<ref>Template:Cite news</ref>

In March 2021, Skrill announced a new partnership with the English Premier League football team Leeds United.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

In 2022, Paysafe was named Payment Service or Solution Provider of the Year at the VIXIO Gambling Compliance Global Regulatory Awards,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> won in the ‘Payment Solution & Innovation of the Year’ category at the 2022 SBC Awards Latinoamérica<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> for a second consecutive year, and won ‘Payment Innovation of the Year’ at the 2022 SBC Awards North America.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

External links

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