SPOTLIGHT | Last month About-Payments introduced the 'About-Payments Spotlight', where we give the stage to Payment Service Providers, Payment Gateways and Solutions to highlight their business, products and value to merchants selling via the internet. In this second edition it is time to meet Skrill.
Skrill has been moving money digitally since 2001 and is one of world's leading digital payments companies, with their worldwide payment network Skrill enables businesses extend their reach globally with over 100 local payment options. Already over 156,000 businesses use the payment services of Skrill, from a simple one-step integration to a fully-tailored payment solution.
#1 - How would you describe your business to merchants new-to-game?
Skrill is a global online Payment Service Provider supporting a wide variety of payment methods through its multi-language payment gateway. Skrill helps online merchants growing their international business by providing global payments expertise and increase sales by a simple and user-friendly checkout process. For consumers, Skrill operates a leading Digital Wallet which can be used online, on mobile or anywhere MasterCard is accepted with the award-winning Skrill Prepaid MasterCard®.
Skrill products are focused on usability and simplicity, designed to be easy to implement on the merchant side and quick and easy to use for their end users, however they want to pay. The company’s innovative approach to payments means it is able to offer solutions that deliver a seamless, secure and reliable online experience for consumers, thus having a positive impact upon the payments ecosystem.
Skrill supports over 100 payment methods, ranging from global credit and debit cards to local and alternative payment methods. Click here to learn more about how Skrill can support your business. Skrill is part of the Skrill Group, which also includes payolution (invoice and installments) and paysafecard (prepaid vouchers).
#2 - What makes you different from other Payment Service Providers?
Skrill is one of only a few providers that provide a truly global payment solution. With Skill you can accept payments in 40 currencies and 16 different languages. Over 40 million registered users already trust Skrill, giving merchants an immediate global presence when accepting payments with Skrill.
Merchants can chose from a range of integration options, whichever suits their needs best. Skrill’s payment gateway supports tokenization which takes away the requirement for merchants to be PCI-DSS compliant. Our payment platform is equipped with best-in-class fraud prevention and detection tools and chargeback protection is available to merchants so you can focus on growing your business. Find out more about the Skrill Global Payments Suite and the Skrill Payment Gateway.
Innovation is at the heart of the customer experience of Skrill payment solutions. For example, Skrill 1-Tap allows consumers to pay with just one-click, which facilitates user-friendly payments on mobile devices; the Skrill mobile app lets customers and merchants manage their account on the go; Skrill Payouts supports instant cross-border batch payments and finally, Skrill Direct offers merchants a direct integration of multiple local instant banking methods. All solutions are provided with a flexible and simple integration.
#3 - What are the triggers for online merchants to switch to your platform?
Skrill is a well-respected and trusted brand that has been delivering innovative payment solutions since 2001. This means we have the global expertise, experience and data to support your growing business.
Skrill has a registered user base of over 40 million Digital Wallet holders across the globe. This makes Skrill a unique partner to work with and grow business through loyalty and co-promotional opportunities.
Tens of thousands of merchants already accept payments with Skrill. Our solutions are individually tailored to your needs, no matter how you want to be paid. We’d love to hear about your specific requirements to provide you with payment solutions tailored to suit your needs.
#4 - What merchants or markets are you targeting?
Online merchants, whether having a local, international or global footprint, can accept payments through Skrill. Skrill has expertise knowledge and offers specific solutions for Retail, Market places, Gambling, Gaming & Social Networks, Forex, Payroll and Payouts and (mobile) Money remittance. Click here for more information on Skrill's support for specific industry sectors.
#5 - How can merchants integrate with your platform?
Skrill supports the several integration options and is also integrated with the majority of shopping platforms, including Magento, Presta Shop and Shopify. Click here for a full overview of e-commerce solutions and for more information about Skrill's integration solutions.
#6 - What can merchants expect in the near future from your company?
Skrill has been a leader in the payments sector since 2001 and is dedicated to delivering trusted, intuitive and ever evolving online payment services to customers worldwide. The following gives some examples of current and future developments.
• Payment Service Provider: Skrill offers merchants a ‘one-stop-shop’ online payment platform called Skrill Global Payment Suite. It is an innovative new platform that gives online businesses access to enhanced credit and debit processing, plus a range of international alternative payment options all rolled into one solution. Built for merchants looking to expand into international markets, it enables them to accept payments from customers across the world, in just one, easy integration.
• Mobile payments: Skrill supports mobile payments via their fully responsive and mobile optimized payment gateway. In the future, Skrill will launch new features that support mobile payments, enhancing the customer experience for mobile customers while keeping transactions secure and fraud levels low. Learn more about the Skrill mobile app.
• Remittance and payroll services: Skrill iT allows customers to send money to anyone with an email address in 200 countries, choosing from 40 currencies and 100 different ways to load and withdraw money. With Skrill iT the money is transferred instantly. Customers can also have direct access to online funds with the Skrill Prepaid MasterCard ®.
• Market places: Skrill is one of the few payment specialists that has a solution which caters for the market place model with a fully compliant payment platform that allows easy pay-ins from sellers and pay outs to contributors. Skrill has developed a solution that specifically caters to this market place and provides the following:
- Global movement of money enabling buyers and sellers to seamlessly transact with each other - in a fast and secure way;
- Provision of a compliant solution that enables marketplace merchants to access a payment solution that supports their business model;
- Access to full reporting, control and automation.
#7 - What is it that merchants should know about your company?
Skrill understands that merchants rely on their payment provider to improve conversion rates. Over the years, Skrill has invested heavily in product development, customer service and its acquiring network to provide a best-in-class service to merchants and unrivalled user experience for end-users.
Skrill was the first company to be granted an e-money license by the FCA in 2001 and has been evolving online payments ever since. Skrill is actively involved in regulating and e-commerce bodies. It allows us to be at the forefront of the payments industry and provide merchants with a superior payment service.
#8 - What is your best advice to merchants expanding their business cross-border?
Merchants should have a clear strategy and phased approach to cross-border expansion. Choosing your business partners is a vital aspect of successfully entering new markets. In the payments sector, regulations and customer preferences can vary significantly. When partnering with a payment service provider, you largely give the responsibility over the final conversion step and customer interaction to a 3rd party. And so it’s important to work with a payment provider that strengthens your business reputation and meets local customer preferences. This not only includes offering the best converting ‘payment-mix’, but also local and cross-border fraud prevention and data services to achieve the best conversion rates.
As the options in online payments vary grow fast and vary in flavour, merchants should make sure to have a flexible solution that keeps them in control of their checkout whilst relying on their payment service provider to protect them from fraud. Nowadays, merchants must have the ability to access data and detailed insights that will allow them to test and optimize the last step in their customers’ journey.
#9 - Digital Wallets or eWallets: hype or next best thing?
Digital Wallets have been around for over a decade and have hundreds of millions of users worldwide. In recent years, Digital Wallets have seen a steady increase in acceptance by both end-users as merchants. For example, Skrill had reached 10 million Digital Wallet accounts by January 2010 where in 2014 over 40 million online users have opened a Skrill Digital Wallet. Other successful Digtal Wallet companies might have seen a similar growth curve. Digital Wallets have evolved from ‘the next best thing’ to an established online payment method serving the needs of online consumers.
Digital Wallets have a bright future, having the benefit of scalability and a global footprint. They provide an excellent opportunity to build a loyal customer base. With hundreds of millions of users worldwide, merchants that are looking to increase sales from cross-border payments cannot afford to miss out on accepting payments from digital wallets.