LONDON – Skrill (Moneybookers), one of Europe’s largest online payment providers, today reported an upsurge in customer, merchant and transaction volumes over the last year. This further consolidates Skrill’s position as one of Europe’s largest online payments systems.
Building on positive momentum since the re-branding of Moneybookers to Skrill in spring 2011, Skrill’s customer base has continued to grow during the past year, increasing by over 50%, from 15.6 million to over 25 million users. The company’s merchant base also grew by almost 70% from 71,000 to 120,000, generating transaction volumes of over €10bn, as online businesses continue to turn to Skrill to access a comprehensive network of payment solutions, enabling them to transact in a complex and fragmented payments landscape.
At the end of 2011, a syndicate of Lloyds Bank Corporate Markets, Royal Bank of Scotland and NIBC loaned Skrill a funding package of €80m to facilitate potential add on acquisitions. Lloyds has backed Skrill since 2008. With support from these banks and additional funding from Investcorp Technology Partners, Skrill remains in a strong position to capitalise on this fast growing market.
Skrill’s Digital Wallet solution provides the foundation of the company’s success, enabling customers to make online payments conveniently and securely without revealing personal financial data. The service offers merchants over 100 local payment options alongside the company’s leading security and risk management expertise. And with research showing that 33% of smartphone users made a purchase on a mobile device in 2011, Skrill has also demonstrated its commitment to innovation with the launch of Skrill 1-Tap – a new product connected to Skrill’s digital wallet, which brings quick and easy mobile payments to consumers and convenience to merchants.
Martin Ott, Co-CEO of Skrill, said: “Skrill remains at the forefront of the online payments market, with a commitment to innovative yet secure services that take the hassle out of mCommerce for merchants and give customers a seamless mobile shopping experience. Not only can Skrill offer the very latest in payment technology, it does so while remaining a trusted, secure and dependable brand.”
Nikolai Riesenkampff, Co-CEO of Skrill, said: “We are at an exciting time in the development of Skrill, with the full re-brand to be completed by Summer 2012. Both the online payment and mCommerce industries are growing rapidly and we are proud to be helping merchants to increase conversions by offering customers convenient payment methods.”