Skrill
- Company typePrivate
- Founded2001
- HeadquartersLondon, United Kingdom
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
Skrill firmographics
Firmographics- Name
- Skrill
- Legal name
- Skrill USA, Inc.
- Website
- https://skrill.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Ownership category
- akta.pro rank
Skrill industry classification
Industry- Product category
- Digital Wallet & Online Payments
- NAICS
- Credit Card Issuing (522210), Depository Credit Intermediation (5221)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)
- akta.pro secondary industries
- A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), International / Cross-Border BNPL & Multi-Currency POS Financing (FSAGAIAN)
Keywords
Where Skrill is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Skrill business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Others
Revenue model
- Transaction Fees: Fees charged per money transfer, payment transaction, and service use. Fee schedule available at skrill.com/siteinformation/fees. Applies to sending money, receiving payments, and merchant transactions.
- Foreign Exchange (FX) Fees: Currency conversion fees applied when users convert between currencies. Skrill exchange rate (reference rate set by Skrill, changing continuously) plus a foreign exchange fee displayed in the fees section. Non-refundable even if original currency differs.
- Card Services: Fees associated with Skrill Visa Prepaid Card usage including withdrawals, transactions, and maintenance. Card issued by Community Federal Savings Bank.
- Account Maintenance Fees: Monthly inactive maintenance fee of $5.00 charged after 365 days of no login or transaction activity. Account closed when balance reaches $0.00 or user transacts.
- Document Retrieval Fees: $10.00 per copy charged for documentary evidence of transactions requested for income tax or other lawful purposes.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Digital Wallet |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Skrill product offering
Product offeringCore offering
Skrill operates a consumer digital wallet enabling users to send and receive money globally, pay online at merchants, fund gaming and betting platforms, and access funds via physical or virtual Visa prepaid cards. The platform supports multiple currencies with real-time FX, instant bank withdrawals to supported banks, and a Knect points-based loyalty program. It also exposes PSD2-compliant Open Banking APIs that let authorized Third Party Providers retrieve account information and initiate payments on behalf of customers.
Product overview
Skrill is a digital wallet and online payments platform offering a comprehensive suite of money transfer, payment, and financial services. The core product is the Skrill Digital Wallet, which serves as the foundation for all other services. Users can send money globally, pay online at merchants, deposit to betting and gaming platforms, and manage funds through physical or virtual prepaid Visa cards. The platform includes loyalty programs (Skrill Knect with points-based rewards, VIP Program with premium perks, and tiered Account Levels), an affiliates referral program, and cryptocurrency trading services. Skrill also offers PSD2-compliant Open Banking APIs for Third Party Providers, and maintains regulatory licenses across US states and UK/EU markets. The platform is operated by Paysafe Group.
Differentiator
Problem solved
Functional benefit
Brands
- Skrill Visa Prepaid Card: Prepaid card allowing users to spend Skrill balance at merchants accepting Visa.
- Skrill Virtual Visa Prepaid Card
- Skrill Knect
- Skrill VIP Program
Products and services
- Skrill Digital Wallet Core digital wallet enabling users to send and receive money globally, pay online at merchants, and hold multi-currency balances funded by card, bank transfer, PaysafeCard, or PaysafeCash.
- Skrill Money Transfer Service for sending money to any Skrill user or network participant globally, with instant withdrawal to supported bank accounts.
- Skrill Pay Online Allows consumers to shop and pay at participating merchants using their Skrill wallet balance at checkout.
- Skrill Visa Prepaid Card Physical prepaid Visa card that lets users spend their Skrill wallet balance anywhere Visa is accepted worldwide.
- Skrill Virtual Prepaid Card Virtual Visa prepaid card for shopping online using Skrill wallet balance without requiring the physical card.
- Skrill Online Betting Payments Secure deposit service for funding online sports betting and gambling platforms directly from the Skrill wallet.
- Skrill Online Gaming Payments Deposit service for funding online gaming platforms directly from the Skrill wallet balance.
- Skrill Cryptocurrency Services Service enabling users to buy and sell cryptocurrencies directly through the Skrill platform with real-time pricing and withdrawal to external wallets.
- Skrill PSD2 Open Banking APIs PSD2-compliant APIs (Modified Customer Interface) that allow qualified Third Party Providers to retrieve customer account information and transaction history, and to initiate payments on behalf of Skrill customers using OAuth 2.0 + PKCE and Strong Customer Authentication.
Companies that use Skrill
Customer profileSegments2 records
Ideal customer profiles3 records
Skrill technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability1 record
Feature4 records
Skrill partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Paysafe GroupcoreSkrill USA is part of the Paysafe Group. Paysafe provides data processing, program services, web services, and technology infrastructure for Skrill USA. Skrill USA is under contract to be acquired by Paysafe. Paysafe also handles OAuth authorization server, API management, and regulatory compliance support.
- Community Federal Savings BankcoreIssues the Skrill Visa Prepaid Card pursuant to license from Visa USA Inc. Maintains FDIC-insured custodial accounts for Skrill's stored value balances at Community Federal Savings Bank, member FDIC. Funds in stored value balances are eligible for FDIC insurance up to $250,000.
Scale indicators1 record
Recent moves3 records
Expansion highlights6 records
Skrill competitors and assessment
Company assessmentDirect peers
- PayPal: PayPal operates a global digital wallet and online payments platform serving consumers and merchants with P2P transfers (via Venmo in the US), merchant checkout, prepaid cards, and crypto services. PayPal is Skrill's most direct global competitor with overlapping consumer wallet, merchant acquiring, and cross-border payment capabilities.
- Venmo: Venmo (owned by PayPal) is a leading US P2P digital wallet with social feed features, instant transfers, debit card, and merchant integrations. Venmo directly competes with Skrill in the US consumer money transfer and online payment space, particularly among younger demographics.
- Cash App: Cash App (Block, Inc.) is a US-focused P2P digital wallet offering instant transfers, Cash App Card (debit), Bitcoin buying/selling, and direct deposit. Cash App competes with Skrill for US consumer wallet share and overlaps on prepaid card, crypto, and P2P money transfer functionality.
- Neteller: Neteller is a Paysafe Group sister brand operating a digital wallet with strong focus on online gaming, betting, and forex deposits. As a sibling brand within Paysafe, Neteller is the closest internal peer to Skrill USA with overlapping product set and merchant verticals.
- Wise (TransferWise): Wise offers multi-currency digital wallets and cross-border money transfers at mid-market FX rates with transparent fees. Wise competes directly with Skrill's multi-currency wallet and money transfer services, particularly for cross-border consumer and SMB use cases.
- Payoneer: Payoneer provides digital wallet, multi-currency receiving accounts, and cross-border payment services primarily for freelancers, SMBs, and marketplaces. Payoneer directly competes with Skrill's multi-currency wallet and online payment capabilities for cross-border commerce use cases.
- Zelle: Zelle is a US bank-backed P2P payment network integrated directly into major US bank mobile apps, offering instant transfers with no fees. Zelle is a direct US competitor to Skrill for P2P money transfers and benefits from deep distribution through hundreds of US banks.
Emerging players
- Revolut: Revolut is a global digital banking app offering multi-currency accounts, P2P payments, prepaid cards, crypto trading, and remittances. Revolut overlaps with Skrill on multi-currency wallet, prepaid card, and crypto services and is rapidly expanding in the US and European markets.
Broad incumbents
- Western Union: Western Union is a global incumbent in cross-border money transfers with extensive retail agent network and digital channels. Western Union competes with Skrill on international money transfer and overlaps on digital wallet/online payment services, though with a much broader offline footprint.
- MoneyGram: MoneyGram is a global cross-border money transfer incumbent with retail agent network and growing digital wallet/app offering. MoneyGram competes with Skrill on money transfer services and is expanding into digital wallet functionality similar to Skrill's core offering.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Skrill social profiles
Digital presenceSkrill compliance and trust
Trust signalCompliance6 records
Skrill financial estimates
Financial estimateRevenue estimate
Valuation estimate
Skrill leadership team
Management profileNumber of profiles
Skrill funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Skrill M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Skrill
What does Skrill do?
Skrill operates a consumer digital wallet enabling users to send and receive money globally, pay online at merchants, fund gaming and betting platforms, and access funds via physical or virtual Visa prepaid cards. The platform supports multiple currencies with real-time FX, instant bank withdrawals to supported banks, and a Knect points-based loyalty program. It also exposes PSD2-compliant Open Banking APIs that let authorized Third Party Providers retrieve account information and initiate payments on behalf of customers.
Is Skrill a public or private company?
Skrill is a private company. It is classified as corporate owned and is currently operating.
When was Skrill founded?
Skrill was founded in 2001. It employs 501 to 1,000 people.
Where is Skrill based?
Skrill is headquartered in London, United Kingdom, in the Europe region.
How does Skrill make money?
Five revenue lines are on record. Transaction Fees are the primary driver. The others are foreign Exchange (FX) Fees, card Services, account Maintenance Fees and document Retrieval Fees.
Who are Skrill's main competitors?
Direct peers on record are PayPal, Venmo, Cash App, Neteller, Wise (TransferWise), Payoneer and Zelle. Revolut is listed as an emerging player. Broad incumbents are Western Union and MoneyGram.
Does Skrill have an API?
Yes. Skrill offers PSD2-compliant Open Banking APIs (Modified Customer Interface) that allow qualified Third Party Providers (TPPs) to access customer account information and initiate payments. The APIs include PSD2 OAuth2 and Client Management APIs, Account Information Service APIs (Get Customer Accounts Information, Get Transaction History), Payment Initiation Service APIs (Send Money Preview, Send Money, Send Money Finalize), and Strong Customer Authentication APIs (Trigger OTP SMS Code Send, Validate OTP Code). Authentication uses OAuth 2.0 Authorization Code Grant flow with PKCE extension (SHA-256) and requires Qualified Website Authentication Certificates (QWAC) issued by a Qualified Trust Service Provider. The API operates over HTTPS, accepts and returns JSON. Skrill supports AIS (Account Information Service Providers) and PIS (Payment Initiation Service Providers) roles, but does not support CBPII (Card Based Payment Instrument Issuers) use cases. Developer documentation is at developer-psd2.skrill.com.
What industry is Skrill in?
Skrill's product category is Digital Wallet & Online Payments. Its primary akta.pro industry code is FSAGAAAD, Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value), with a secondary code of FSAMAFAB, A2A Payment Initiation Service Providers (PISPs). Its NAICS code is 522210 and its SIC code is 6199.