Skrill (formerly Moneybookers) is an e-commerce store that allows payments and money transfers via the Internet, focusing on cheap international money transfers.
It is owned and operated by Skrill Limited, a UK-based company that is registered as a Money Service Business with Her Majesty’s income and habits, which is regulated by the Financial Conduct Office and licensed to operate in the European Union.
Since 2015, Skrill has been part of the Paysafe Group, a former Neteller competitor and the paysafecard prepaid payment method.
On 27 July 2001, Moneybookers Limited was established in the United Kingdom. In March 2007, Moneybookers purchased Investcorp for € 105 million and was sold by its owners for an estimated £ 365 million from March 9, 2009.
In February 2010, The Sunday Times placed on Moneybookers as the UK’s fastest growing private equity firm. In 2011, the company’s customer base reached 25 million, of which 120,000 were trading accounts whose payment gateway is integrated with a number of global online brands such as Facebook, Skype and eBay.
In September 2011, Moneybookers announced that they would transfer their services to Skrill. Product rebranding was completed in 2013.
In February 2013, Skrill completed the acquisition of the Austrian paysafecard prepaid payment method.
In August 2013, CVC Capital Partners acquired Skrill for EUR 600 million. Since 2014, Skrill has been approved by the New Jersey Gaming Enforcement (NJDGE) division as the only New Jersey digital gambling approved wallet.
In March 2015, Optimal Payments, parent company of Skrill Neteller rival, announced its official proposal to acquire Skrill Group for € 1.1 billion. The agreement was finalized by party in the third quarter of 2015. In April 2015, Skrill Group announced that it had completed the acquisition of Ukash, a UK competitor of paysafecard, which was merged in the same year.
Skrill accounts can be held in any major currency but once the first transaction is made it is not possible to change account currency. Customers can purchase a Skrill prepaid card associated with an account in one of four currencies: USD, EUR, PLN and GBP. High turnover customers are offered premium membership called “Skrill VIP”, which includes additional features such as security token, accounts with multiple currencies and the ability to earn loyalty points.