Alternative Payment Solution: Skrill
Skrill is a global payments solution provider headquartered in London. It allows users to store payment details in the Skrill digital wallet, which they can use to make payments for online purchases. Consumers can also make payments with their Skrill account balance and register debit and credit cards, bank accounts, and other payment options such as paysafecard within the wallet for future payments.
Skrill also offers faster checkout via Skrill 1-Tap (using saved payment instruments) and the user’s Skrill account balance. Users can make a payment with a single click without logging into their Skrill account.
Skrill allows merchants to accept payments from more than 100 local payment methods. It is supported by all major card schemes as well as by 170 banks globally. Skrill also offers P2P payments, allowing users to send money locally and to 200 markets globally. The funds are credited to the recipient’s Skrill account balance. In February 2018 Skrill introduced Skrill Send Direct, a new money transfer service enabling Skrill users to send money directly to recipients’ bank accounts and mobile wallets in 45 countries.
In collaboration with Mastercard, Skrill offers prepaid cards that can be used for cash withdrawals at 2.1 million ATMs as well as for online and in-store payments at more than 35 million locations globally. In July 2018, Skrill introduced a new feature allowing its users to buy and sell cryptocurrencies including bitcoin, bitcoin cash, ethereum, and litecoin using over 40 fiat currencies available in their Skrill wallet.
The report provides information and insights into alternative payment solution Skrill including -
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