Published on September 22nd, 2015 | by Skrill payment1
The Advantages and the Disadvantages of Using Skrill
A payment gateway is basically an application available on an e-commerce site allowing the site to connect customer payment account with website account. Online payment platforms help in keeping the details of credit account of an individual safe in place of sending them online. Apart from this, using these gateways for transferring money is faster and it helps in easing the annoyance involved. There are innumerable payment gateways providing their services to interested users. Therefore, it is necessary for you to possess a sharp eye for getting hold of the best online payment option. Here, we will have a look at the advantages and the disadvantages of using Skrill Payment Gateway.
The Benefits of Using Skrill
Skrill has impacted both negatively and positively to the financial status of the users. The main advantages of using Skrill for processing online payments have been outlined below:
No Charges on Credit Card Processing
Skrill does not accept credit cards and therefore it does not charge payments made through credit cards. This also helps users in averting credit fraud.
Services are Borderless
Serving in the form of an international payment gateway, the services of Skrill are borderless. This payment system is the best and the cheapest method of sending money cross-border. Very dissimilar to the other payment gateways, this online payment platform has been successful in going outside western countries for establishing bank relations in different countries. It is only because of this reason that Skrill is considered one of the most dependable online payment giants throughout the world.
Users get the flexibility of withdrawing money from Skrill easily at any point of time through their bank accounts. This is because Skrill is connected to a large number of local bank accounts. Furthermore, Skrill does not specify account reserves. This is found attractive by businesses as this does not take away their profit margins.
Dissimilar to the other online payment gateways using credit cards, Skrill possesses limited restrictions when it comes to security clearance. It helps in cutting the transaction time very short which is a great advantage for the users.
Better Transaction Charges
When compared to the other popular online payment options such as PayPal, Skrill charges maximum $0.25 per transaction. This is found attractive by new businesses as it does not have any bad impacts on the return figures.
The Drawbacks of using Skrill
Some major drawbacks of using Skrill include:
Not Highly Acceptable
Skrill is not highly accepted as a payment gateway in many countries. This serves as a drawback for all those people interested in overseas transactions.
No Financial Support
Skrill is not backed by banks when it comes to financial support and administration. This does not come as a guarantee for the users that their money is safe with Skrill.
Taking Skrill advantages and the disadvantages into account, it can rightly be said that it is one of the most affordable online payment options for users. However, users always need to consider certain important factors when using any of the payment gateways available at present. Key factors to consider include setup fee, total payment processing time, security of transactions and customer information and currency flexibility.