Introduction to Skrill
Skrill is a well-known digital wallet and online payment solution, popular among users seeking fast, secure, and convenient ways to handle electronic transactions. Founded in 2001 and previously known as Moneybookers, Skrill has transformed from a niche digital wallet into a full-fledged financial service platform. It supports online purchases, money transfers, cryptocurrency trading, and merchant services, making it a versatile tool for both personal and business use.
Owned by the Paysafe Group, Skrill operates under strict regulatory oversight, especially within the UK and EU. With its headquarters in London, Skrill has consistently maintained compliance with financial authorities while expanding its product suite. This combination of functionality and legal adherence has positioned Skrill as a preferred choice among legal professionals, compliance officers, and fintech-savvy individuals.
What is Skrill?
Skrill Casino allows users to send and receive money globally with just an email address, bypassing traditional banking infrastructure. It provides prepaid cards, enables cryptocurrency buying/selling, and supports various currencies. One of Skrill’s unique features is its ability to fund accounts through a wide range of methods, including bank transfers, credit cards, and even crypto wallets.
In 2024, Skrill handled over £90 billion in transactions globally, highlighting its trust and adoption. It caters to freelancers, online gamblers, e-commerce merchants, and users in high-remittance corridors. The platform is particularly favoured in the UK, Germany, and emerging markets in Asia and Africa.
Skrill's role in the digital payments ecosystem
Skrill functions as a bridge between users and the digital economy. It supports e-commerce platforms like Shopify and Magento, as well as gambling sites such as Betway and Ladbrokes. Skrill’s API integrations enable seamless payment processing, making it a practical tool for SMEs and digital entrepreneurs.
With the global e-wallet market expected to surpass £2.1 trillion by 2026, Skrill is well-placed to grow further. Its strategic role in reducing reliance on traditional banking, coupled with instant cross-border transfers, provides tangible benefits to users seeking efficiency and lower transaction costs.
Brief history and ownership
Established in 2001 as Moneybookers, Skrill quickly became one of the earliest digital wallets in Europe. In 2011, it rebranded to Skrill and in 2015, it was acquired by Optimal Payments Group (now Paysafe Group) for €1.1 billion. The acquisition brought it under the same umbrella as Neteller and Paysafecard.
The Paysafe Group’s portfolio of payment services expanded its global footprint. Skrill's parent company is regulated in several jurisdictions, giving Skrill operational legitimacy across continents. Its long-standing history adds to its credibility in legal and compliance contexts.
Skrill’s Global Reach and Market Presence
Skrill supports operations in over 130 countries and offers its services in 40 currencies. It is particularly popular in Europe, Latin America, and Southeast Asia. The ability to transact in local currencies and its support for regional payment methods like Boleto in Brazil and Sofort in Germany make Skrill a globally adaptive platform.
Its global penetration also includes partnerships with Visa, MasterCard, and cryptocurrency exchanges like Binance. This wide reach is critical for cross-border users who need reliable and legally compliant transaction channels.
Countries and regions supported
Skrill’s services are available in all EU member states, the UK, Australia, Canada, India, and much of Africa and South America. However, regulatory restrictions prevent operations in countries like Afghanistan, Cuba, and North Korea. The platform uses geo-fencing and compliance filters to manage jurisdictional risks.
In 2024, over 65% of its new registrations came from non-EU countries, reflecting growing demand in developing regions. UK users make up around 12% of Skrill’s global user base, showcasing its entrenched market presence domestically.
User base and target demographics
Skrill’s primary users include freelancers, digital nomads, online gamblers, and e-commerce merchants. Approximately 40 million users were active globally as of Q1 2025, with 68% accessing Skrill via mobile apps. The average age of users ranges from 25 to 45, with high adoption among tech-savvy millennials.
The user base in the UK prefers Skrill for online betting and crypto transactions due to its speed and anonymity. Businesses, meanwhile, use Skrill’s merchant tools to manage invoicing and receive payments from international clients.
Strategic partnerships and integrations
Skrill has forged partnerships with major platforms such as PaySafeCard, eToro, Binance, and betting giants like 888sport. These integrations allow it to offer services in online gaming, trading, and e-commerce sectors seamlessly.
It also partners with payment gateways and API providers to facilitate plugin compatibility with WooCommerce and BigCommerce. This strategic alignment enhances its market resilience and adds to its compliance frameworks across industries.
Account Types and Services Offered
Skrill offers both personal and business accounts. While personal accounts focus on sending, receiving, and spending funds globally, business accounts are geared toward accepting customer payments, integrating checkout systems, and issuing invoices. Both accounts are KYC-enabled and legally compliant.
Business accounts provide additional benefits such as lower FX rates, access to APIs, and merchant fraud protection. Skrill also offers VIP tiers for high-volume users, featuring benefits like 24/7 support, multi-currency accounts, and lower fees.
Personal vs business accounts
Here’s a comparative table of Skrill account types:
| Feature | Personal Account | Business Account |
|---|---|---|
| Monthly Fee | Free / £5 (inactive) | Custom pricing |
| Transactions Limit | £10,000/month | Unlimited |
| Crypto Trading | Yes | Optional |
| Customer Support | Email & Chat | Dedicated Account Manager |
Features: transfers, crypto, prepaid cards
Skrill enables instant transfers to over 30 countries. Crypto features allow buying/selling 40 digital currencies. The prepaid Skrill MasterCard offers ATM withdrawals and online spending across millions of retailers. Users can also receive payments through Skrill QR codes and account links.
As of 2025, over 2 million Skrill prepaid cards have been issued in the UK. Cryptocurrency transactions on Skrill exceeded £3 billion in 2024, highlighting its role as a hybrid fintech provider.
Merchant services and fees
Skrill offers an integrated merchant gateway with fraud protection and chargeback management. Businesses can customise checkout experiences using Skrill’s hosted pages or APIs. Monthly fees depend on transaction volume and region.
Standard merchant fees range from 1.9% to 3.5% per transaction. Skrill also imposes withdrawal fees (£4.95 per transaction) and FX markup (3.99%). Bulk discounts are available for high-volume clients, which include major betting and trading platforms.