What is Skrill

Skrill, previously known as Moneybookers, is an e-commerce business entity that enables online payment transactions through the internet. As of 2011, Moneybookers has rebranded their services of e-money management to be represented as Skrill.

The development and scope of Skrill

Skrill is a business entity that uses the internet as a platform to conduct online payment transactions. This service offers individuals and companies an alternative option to carry out payments, using e-checks, credit/debit cards and mobile payments, other than opting for traditional methods such as paper cheques and bank wire transfers.

Skrill is one of the dominant companies in the electronic funds transfer services, closely followed by PayPal. The main benefit that these companies offer their clients is the high levels of security in order to reduce risk of fraud and money laundering. The security measures that Skrill has implemented in order to enhance security include identification verification in order to authorize payment transactions. With their money transferring network expanding across the globe, Skrill has access to an estimated 24.2 million customers.

The main services that Skrill offers their consumers include the following;

  • Digital wallet
  • Online shopping
  • Money depositing
  • International money transfer

The main services that Skrill offers business include the following:

  • Retail
  • Risk and fraud management
  • Auction payments
  • Digital media and micro-payments

Individuals and companies that wish to offer their customers online and offline payment solutions are advised to seek the assistance of a professional consultancy firm. Through the advice and guidance of experts, individuals and companies are able to ensure that they obtain, implement and integrate payment solutions into their company activity in a professional and timely manner.