Published on September 21st, 2015 | by Skrill payment0
A Review of Skrill Payment Gateway
Skrill started its operations as Moneybookers Limited. This company came up in the year 2001 in the United Kingdom. In the year 2007, the Investcorp Technology Partners bought the company and rebranded it as Skrill. This was done in the year 2011. Later, in 2013, Skrill got into the hands of CVC Capital Partners. Skrill Payment Gateway provides an assortment of money transfer techniques by the use of the internet. Some money transfer solutions offered by Skrill include Skrill Direct which is direct debit payments, debit and credit card processing and digital wallet. There are more than 36 million Skrill account holders having the ability of transferring money in 40 currencies over 200 countries.
Features and Products
Skrill payment gateway works in the form of a hosted payment solution. The customers are redirected from merchant website to Skrill website. This is the place where the gateway carries out the job of collecting the details of customer payments. Post completion of the payment procedure, customers are returned to merchant website. Real time notification is sent to the merchant regarding the completion of the payment procedure which also includes transaction details. The gateway offers debit and credit card processing and at the same time it also offers an assortment of alternative payment solutions including digital wallet payment and direct bank transfer.
How does the Gateway Work?
For getting connected to Skrill, merchants need to include Skrill as the selected payment method on the payment or checkout page. Two things are likely to happen when the customers click Skrill- customers are redirected to Skrill website and at the same time Skrill gets the details of the customers along with payment amount, account ID and other important information. All this is available in standard HTML form. Card details and payment information are provided by the customers on Skrill website. Post this, the customers need to confirm their transactions. An authorization request from card issuer is generated by Skrill with the results being displayed on Skrill payment platform. Accordingly, the merchant also receives the notification. The process of integrating merchant website with Skrill payment gateway is quite simple and straight forward. Users require very limited programming skills for carrying out the entire procedure. It is also important to note that this online payment solution is highly compatible with almost all the typical shopping carts.
Acceptance of Payments
Skrill payment gateway accepts payments from:
• JCB, Diners card and American Express
• MasterCard and Visa Card
• Carte Bleue
• Sofort Banking
• German Direct Debit
The merchants have the flexibility of excluding the payment methods which they do not want to accept.
The additional features of the gateway include:
• Recurring billing available through payment gateway or in the form of standalone product.
• Single click payment services by merchant bank to the Skrill account of the customer.
• Processing charges for payments start from 1.9% along with €0.29 per transaction when using digital wallet and from 2.9% along with €0.29 for credit cards. €25 is the chargeback fee.
From the above illustration, it can rightly be said that Skrill serves as an amazing payment solution for merchants. However, it is a bit expensive. Therefore, when choosing Skrill as your payment option, keep a handy budget ready.