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Wallet Database

Skrill

1st of September 2016

Overview



  • Summary: Skrill is a cards-based and account to account digital wallet for online purchases and P2P payments operating in multiple markets and launched in Apr ’12. Skrill belongs to the British Paysafe Group.

  • Website: https://www.skrill.com/en/

  • Status: Live

  • Market: UK (Apr ’02). Currently Skrill is available in over 200 countries.

  • Type: Other

  • Ownership: Skrill Limited (which belongs to Paysafe Group)

  • Functions: Retail payments, Person-to-Person payments.

  • Payment Mode: Cards-based and account to account

  • Channel: WEB

  • Roadmap: n/a

User Experience



  • Registration & set up: App can be downloaded from App Store and Google Play. Registration can be done through a browser as well. User must be at least 18 years old. Skrill account can be charged via credit and debit cards, online bank transfers and bank wire deposits.



  • Making a payment: Consumer selects the Skrill 1-tap button on merchant’s website. Authenticate with password. (Update to follow – Further information being obtained)

Payment Flows & Technology



  • Merchant perspective: Consumer selects the Skrill 1-tap button on merchant’s website. Merchant request a session identifier (SID) by passing customer and transaction details to the Skrill Wallet Checkout. Skrill returns the generated SID. Skrill requests authorisation for the payment from the customer’s bank, third party provider or card issuer. The bank/provider approves or rejects the transactions. Skrill displays the confirmation page on the Skrill Wallet Checkout. Skrill provides merchants with an asynchronous notification, sent to merchant’s status URL or IPN (Instant Payment Notification).

  • Security: Secure Socket Layer (SSL) technology with high security 128-bit encryption, certified by VeriSign (http://www.verisign.com/).

Business Model



  • Strategy: (Update to follow – Further information being obtained)

  • Payee fee: Merchants are charged by Skrill (fee is n/a). (Update to follow – Further information being obtained)

  • Payer fee: No charge for consumer 

Performance Data



  • Launch date: UK (Apr ’02)

  • Closed Date: N/A

  • Users: 20 million (source: https://www.skrill.com/en/merchants/)

  • Retailers / merchants: No data yet

  • Transaction volume: No data yet

  • Transaction value: No data yet

  • Other data points: Skrill is available in nearly 200 coutries and in 40 currencies. Integrated with over 80 banks worldwide (source: https://www.skrill.com/en/)

Contact (MobeyForum Members only)



  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A