Skrill – online business for low cost international money transfers
Online businesses are known as trading of products and services over the internet. One of the most widely used e-commerce business is Skrill. Skrill limited is a private UK concern in online payment industry founded by Daniel Klein and Benjamin Kullmann in July 27, 2001. It mainly focuses on rendering services at low cost for international money transfers. It was formerly known as Moneybookers in 2001 when it was launched. In April 2002, Moneybookers website and online payment system was launched. Investcorp Technology partners bought Moneybookers in 2007 and it is put up for sale in 2009. In May 2012, the payment gateway of Skrill was integrated with Skype, eBay and Facebook and there are around 25 million customers in the company. The company was then bought by CVC Capital Partners in 2013 after which it was renamed as Skrill.
Skrill gained second position out of all payment services in a survey by the online seller news in the eCommerce Bytes blog. According to BBB review, Skrill has not gained much fame due to complaints on fraudulent behaviour like unreachable customer support, unauthorized charges, account freezing and money withheld. However Skrill tackled all these problems and gained a successful position. Skrill offers the acceptance for around 40 currencies and supports all major cards. There are around 36 million customers in Skrill today. 1,56,000 merchants are accepting this payment solution. Skrill account’s currency is fixed only one time when the first transaction of the account occurs. Skrill is the preferred choice for secure payments due to its features like globalisation of its products, convenience, simplicity, security and trust.
Skrill account can be easily created by simply opening the website of Skrill, signing up and entering personal information with valid e-mail address. There is optional choice for entering identity verification. It is mandatory in large value payments. If the account is not used for more than one year, then the company charges inactivity fee on that account. E-mail addresses are the prime identification of Skrill account. Payments from a Skrill account are processed by sending money options to an e-mail address of another account. There is a limit of four email addresses for a Skrill account. Prepaid card option is also available in one currency among EUR, GBP, PLN and USD. The accounts that are used for higher value payments are treated as premium account and Skrill offers special features in addition like loyalty points, security token and multi-currency account.
Skrill has introduced payment gateway, web SMS, fax sending service and escrow payments for businesses. Skrill Company has introduced Skrill iT instant payments internationally that can be directly paid from online banking facility. Skrill also supports payments to online gaming sites. With the help of Skrill account, a person can make payments to any online businesses without furnishing their online banking, debit card and credit card details to them. It is considered as a digital wallet, so payments from bank account and cards are safer when they are used to pay money in the Skrill account. Skrill Prepaid cards can be used worldwide whether in offline or online in the same way as Master Cards.