Published on September 21st, 2015 | by Skrill payment0
Important Facts on Skrill
Globally the internet has currently 3,079 million users. The growth of the internet over the years has lead to the birth of various services, which makes the life of a common man easier. One of the notable developments is the birth and growth of EDI or Electronic Data Interchange. Using the principles of EDI, you could enjoy money transfer from home to any parts of the world, by using various online payment systems. Skrill is one such company, which currently enjoys a global presence in the segment of online payment transactions and digital wallet payment procedure. Below we have explored the various outstanding facts of this unique company.
When did it all start?
Many people know an important fact that Skrill was started in 2001 using the domain of moneybrokers.com. Officially the other payment option services and moneybrokers.com was launched on 1st April 2002. The company witnessed a tremendous positive response in the next 1.5 years, as during this period Skrill acquired 2 million new customers. The company moved towards the next level of success, when Investcorp Technology Partners acquired Moneybrokers for an estimated value of €105 million. In 2008, Moneybookers boasted of an impressive global presence in 200 countries, where it had six million account holders. In 2011, the company reached a customer base which was a phenomenal 25 million. CVC Capital Partners bought Moneybrokers in 2013 for €600 million. The year 2014, witnessed another milestone when Skrill received approval from NJDGE, which sanctioned the use of digital wallet for internet gambling in New Jersey. Optimal Payments acquired Skrill in March this year, for an enterprise value of $1.2 billion. The entire acquisition deal is expected to be completed by Optimal Payments by the Q3 this year.
When did Moneybookers rebrand itself?
The phenomenal growth of Moneybookers made its people feel the need to rebrand itself. Thus Skrill was born on September 2011 and the entire process was finished in 2013. When you have a Skrill account, you can send and receive money from any of the registered 41 currencies. As a security measure, customers based in USA could not receive cash advancement from customers who do have a registered Skrill account, outside USA. It was only in 2015 after Optimal Payments acquired Skrill, that the USA has been included among its supported countries.
What are its various services?
A review undertaken by eCommerce Bytes in 2011 has indicated that Skrill is considered as the second most popular online payment system. The prepaid card of Skrill is very popular and is currently available in four currencies such as Euro, USA, GBP and PLN. Premium customers enjoy facilities like security-token, accounts available in multiple currencies and can enjoy loyalty points, which they earn after every transaction. Skrill understands the demands of its business customers and thus facilitates features like escrow-payments, ability to send SMS using the web and also offers fax services. In case of disputes among its existing merchants, Skrill does not get involved unlike other companies.