Published: 23/06/2016 - Updated: 23/06/2016 - Tags: Payment Methods
Skrill is an e-commerce platform based in the United Kingdom that allows users to make both domestic and international money transfers over the Internet.
Formerly known as Moneybookers, this UK-based service has been licensed to operate within the United Kingdom since 2001.
Skrill was originally launched under the name Moneybookers on April 1, 2002. The demand for an online payment system was very high in the site’s early days and the company quickly gained over 2 million users in the first eighteen months of operation.
By the time Moneybookers was put up for sale by its owners in 2008, the company claimed to have over 6 million accounts based in over 200 countries around the world. The number would skyrocket in 2011, when Skrill became integrated with internationally known brands such as Facebook, Skype and eBay. This integration would cause the number of Skrill users to skyrocket from 6 million in 2008 to 25 million only three years later.
Skrill became famously involved in the Wikileaks scandal of 2010 when the e-payment service blocked the donation account belonging to the controversial website. Skrill stated that their decision to block Wikileaks’ account was due to the site being added to both watchlists in the United States and Australia. Skrill’s decision to prevent donations to Wikileaks via its platform was met with mixed reactions from its user base and the public as a whole.
Skrill Services and Features
Chargeback Protection: Skrill provides sellers with protection against fraudulent chargebacks. Skrill may cover the cost of a fraudulent chargeback as well as administrative fees.
Cross-border Payments: Skrill offers low-cost transactions around the world in forty different currencies.
Shopping cart Integration: Skrill integration is very simple. In only two minutes, your site can start can start receiving payments via Skrill.
Data Reporting: Skrill provides a web based analytical tool for its customers to monitor transactions that are taking place on their sites.
Recurring Billing: Skrills automatic biling service allows venders to save time and resources by setting up recurring billing.
Skrill allows for customers and vendors to engage in safe and secure one touch transactions via its PCI-DSS-compliant infrastructure. Skrill’s secure systems allow customers and vendors alike to store sensitive payment details in confidence knowing that Skrill’s security standards are up to date and meet industry standards.
Skrill offers additional account security by providing a two factor authentication service via Google Authenticator. This feature requires users to enter an additional password served over a mobile application before any transaction is completed via Skrill.