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== History ==
== History ==
The ''moneybookers.com'' [[domain name|domain]] was first registered on 17 June 2001.<ref name="whois database">{{cite web|url=http://reports.internic.net/cgi/whois?whois_nic=moneybookers.com&type=domain|title=whois record |date=2009-10-12 | accessdate=2009-10-12}}</ref> On 27 July 2001, a company named Moneybookers Limited was [[Corporation|incorporated]] in the United Kingdom.<ref name="ch_moneybookers">{{cite web|url=http://wck2.companieshouse.gov.uk/760daf2b03f4a7c6756b67b76c22210d/compdetails|title=Companies House registration data: Moneybookers Limited|accessdate=2012-12-02}}</ref> The moneybookers.com website along with the online payment system was launched on 1 April 2002.<ref name="press release">{{cite web|url=http://www.moneybookers.com/app/presscentre.pl?action=show&news_id=1|title=Moneybookers.com |date=2002-01-04|accessdate=2009-03-19}}</ref> Almost 2 million new users registered with Moneybookers in the initial 1.5 years of operation. On 2 September 2008, Moneybookers claimed to operate in all countries of the world and handle over 5.5 million accounts. As of 2014, Skrill have been approved by the [[New Jersey Division of Gaming Enforcement]] (NJDGE) as the only sanctioned digital wallet for [[New Jersey]] internet gambling.<ref>http://www.cardschat.com/news/us-online-poker-new-jersey-skrill-usa-2015-8892</ref>
The ''moneybookers.com'' [[domain name|domain]] was first registered on 17 June 2001.<ref name="whois database">{{cite web|url=http://reports.internic.net/cgi/whois?whois_nic=moneybookers.com&type=domain|title=Moneybookers.com whois record|website=InterNIC |date=24 January 2003 | accessdate=26 March 2015}}</ref> On 27 July 2001, a company named Moneybookers Limited was [[Corporation|incorporated]] in the United Kingdom.<ref name="ch_moneybookers">{{cite web|url=http://ukdata.com/company/04260907/SKRILL-LIMITED|title=Company information for SKRILL LIMITED (04260907) incorporated 27-07-2001|accessdate=26 March 2015}}</ref> The moneybookers.com website along with the online payment system was launched on 1 April 2002.<ref name="press release">{{cite web|url=http://www.moneybookers.com/app/presscentre.pl?action=show&news_id=1|archiveurl=http://web.archive.org/web/20140104233106/https://www.moneybookers.com/app/presscentre.pl?action=show&news_id=1|archivedate=4 January 2014|deadurl=yes|title=Moneybookers Ltd. Launch Electronic Money Transfer Website |date=4 January 2002|accessdate=26 March 2015}}</ref> Almost 2 million new users registered with Moneybookers in the initial 1.5 years of operation.{{cn|date=26 March 2015}}


In March 2007, Moneybookers was bought by [[Investcorp|Investcorp Technology Partners]] for [[Euro|€]]105 million<ref>{{cite web|url=http://www.prnewswire.co.uk/cgi/news/release?id=194056|title=Investcorp Technology Partners Undertakes Buyout of Moneybookers Limited for EUR105 Million|accessdate=2008-06-17}}</ref> and as of 9 March 2009, it was put up for sale by its owners for an estimated £365 million.<ref>[http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4963091/Investcorp-to-sell-Moneybookers.html "Investcorp to sell Moneybookers,"] Telegraph.co.uk (9 March 2009).</ref>
In March 2007, Moneybookers was bought by [[Investcorp|Investcorp Technology Partners]] for [[Euro|€]]105 million<ref>{{cite web|url=http://www.prnewswire.co.uk/news-releases/investcorp-technology-partners-undertakes-buyout-of-moneybookers-limited-for-eur105-million-153549825.html|title=Investcorp Technology Partners Undertakes Buyout of Moneybookers Limited for EUR105 Million|date=28 March 2007|accessdate=26 March 2015}}</ref> and as of 9 March 2009, it was put up for sale by its owners for an estimated £365 million.<ref>{{cite web|url=http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4963091/Investcorp-to-sell-Moneybookers.html|title=Investcorp to sell Moneybookers|website=Telegraph.co.uk|date=9 March 2009|accessdate=26 March 2015}}</ref>


In 2008, Moneybookers claimed to operate in 200 countries of the world and handle over 6 million accounts.<ref>{{cite web|url=https://www.moneybookers.com/app/presscentre.pl?action=show&news_id=42|title=Results for the year ended 31 December 2008|date=9 March 2009|archiveurl=http://web.archive.org/web/20090725041153/https://www.moneybookers.com/app/presscentre.pl?action=show&news_id=42|archivedate=25 July 2009|deadurl=yes}}</ref>
In February 2010, The ''[[Sunday Times]]'' ranked Moneybookers as the fastest growing [[private equity]] backed firm in the United Kingdom based on [[profit (accounting)|profit]]s.<ref>[http://www.deloitte.com/view/en_GB/uk/industries/private-equity /0af9990e09996210VgnVCM100000ba42f00aRCRD.htm "The Sunday Times Buyout Track 100,"] ''The Sunday Times'' (February 7, 2010).</ref> In May 2012, the company reported that it had 25 million customers, including 120,000 [[merchant]] accounts,<ref name="Moneybookers-company-profile">{{cite web|url=http://corporate.skrill.com/about-us/key-facts/ |title=Skrill.com – Key facts |accessdate=14 May 2012}}</ref> its payment gateway being integrated by a number of global online brands such as [[Facebook]], [[Skype]] and [[eBay]].


In February 2010, The ''[[Sunday Times]]'' ranked Moneybookers as the fastest growing [[private equity]] backed firm in the United Kingdom based on [[profit (accounting)|profit]]s.<ref>{{cite web|url=http://www.cobdencentre.org/wp-content/uploads/2010/02/2010buyouttrack100.pdf|title=Buyout Track 100|date=7 February 2010|publisher=''The Sunday Times''}}</ref> In 2011, the company's customer base reached 25 million, including 120,000 [[merchant]] accounts,<ref>{{cite web|url=http://www.thepaypers.com/news/default/skrill-s-customer-base-has-reached-25-mln-in-2011/747076-0 |title=Skrill's customer base has reached 25 mln in 2011 |date=19 March 2012 |accessdate=26 March 2015}}</ref> its payment gateway being integrated by a number of global online brands such as [[Facebook]], [[Skype]] and [[eBay]].<ref>{{cite web |url=http://www.ft.com/cms/s/0/a2f677d8-0c0c-11de-b87d-0000779fd2ac.html |title=Moneybookers up for sale |last1=Stafford |first1=Philip |date=8 March 2009 |website=Financial Times |access-date=26 March 2015}}</ref><ref>{{cite web|url=http://tamebay.com/2009/02/ebay-moneybookers-paymate-amazon-launch-fps.html|title=eBay, Moneybookers & Paymate – Amazon launch FPS|website=Tamebay|date=6 February 2009|accessdate=26 March 2015}}</ref>
⚫
In August 2013, [[CVC Capital Partners]] acquired Skrill for €600m.<ref>Christopher Williams, [http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/privateequity/10253182/CVC-buys-PayPal-rival-Skrill-for-500m.html "CVC buys PayPal rival Skrill for £500m,"] The Telegraph (19 August 2013).</ref> It was announced in March 2015 that they were to be acquired by [[Optimal Payments]] for €1.1bn.<ref>[http://www.ft.com/cms/s/0/b1332ce2-d136-11e4-86c8-00144feab7de.html#axzz3VW3bfU3M Optimal Payments strikes €1.1bn digital wallet deal for Skrill]</ref>

⚫
In August 2013, [[CVC Capital Partners]] acquired Skrill for €600 million.<ref>{{cite web|url=http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/privateequity/10253182/CVC-buys-PayPal-rival-Skrill-for-500m.html|first1=Christopher|last1=Williams|title=CVC buys PayPal rival Skrill for £500m|website=The Telegraph|date=19 August 2013|accessdate=26 March 2015}}</ref>

As of 2014, Skrill has been approved by the [[New Jersey Division of Gaming Enforcement]] (NJDGE) as the only sanctioned digital wallet for [[New Jersey]] internet gambling.<ref>{{cite web|url=http://www.cardschat.com/news/us-online-poker-new-jersey-skrill-usa-2015-8892|title=US Online Poker, New Jersey, and Skrill USA : What's in Store for 2015?|website=CardsChat|date=18 December 2014|accessdate=26 March 2015}}</ref>

In March 2015, it was [[Optimal Payments]], parent company of the Skrill's rival [[Neteller]], announced its official proposal for acquisition of Skrill Group for €1.1 billion. The deal is to be finalized in the third quarter of 2015 according to the parties.<ref>{{cite web|url=http://www.earnforex.com/blog/neteller-acquires-skrill/ |title=Neteller Acquires Skrill |date=25 March 2015 |accessdate=26 March 2015}}</ref>


[[Image:Skrill-Moneybookers.svg|thumb|150px|right|Logo used during rebranding transition from 2011 to 2013.]]
[[Image:Skrill-Moneybookers.svg|thumb|150px|right|Logo used during rebranding transition from 2011 to 2013.]]
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=== Rebranding ===
=== Rebranding ===


In 2011, Moneybookers announced that they would rebrand their service as ''Skrill''. The rebranding of the product was completed in Q3 2013.<ref>{{cite web|url=http://www.skrill.com|title=Moneybookers/Skrill home page|accessdate=May 18, 2013}}</ref>
In September 2011, Moneybookers announced that they would rebrand their service as ''Skrill''.<ref>{{cite web|url=https://sg.finance.yahoo.com/news/Skrill-Future-Moneybookers-iw-2877443280.html|title=Skrill is the Future of Moneybookers|date=28 September 2011|accessdate=26 March 2015}}</ref> The rebranding of the product was completed in 2013.<ref>{{cite web|url=https://www.skrill.com/en/about-us/our-company/|title=Our company - Skrill|accessdate=26 March 2015}}</ref>


== Service ==
== Service ==

Revision as of 18:14, 26 March 2015

For the fiction species, see Taelon § Skrills, living high energy weapons.
Skrill Limited
Company typePrivate
IndustryOnline payments
FoundedJuly 27, 2001 (2001-07-27)
FounderDaniel Klein
Benjamin Kullmann
Headquarters25 Canada Square, London, United Kingdom
Area served
Worldwide
Key people
David Sear CEO
David Clarke CFO
Neil Ward CPO
Roland Schaar SVP Technology
Georg von Brevern SVP Corporate Office
Tom Gregory SVP Operations
Nilesh K. Pandya SVP Emerging Markets
Nick Walker SVP Human Resources
Udo Müller CEO and SVP paysafecard
ProductsPayment gateway
Digital wallet
Prepaid card
PSP
RevenueIncrease $331 million (2014)[1]
Number of employees
700+ (2014)
ParentCVC Capital Partners
Websitewww.skrill.com

Skrill (formerly Moneybookers) is an e-commerce business that allows payments and money transfers to be made through the Internet, with a focus on low-cost international money transfers. It is owned and operated by Skrill Limited, a UK-based company registered as a Money Service Business with Her Majesty's Revenue and Customs, regulated by the Financial Conduct Authority and licensed to operate within the European Union.[2][3][4]

History

The moneybookers.com domain was first registered on 17 June 2001.[5] On 27 July 2001, a company named Moneybookers Limited was incorporated in the United Kingdom.[6] The moneybookers.com website along with the online payment system was launched on 1 April 2002.[7] Almost 2 million new users registered with Moneybookers in the initial 1.5 years of operation.[citation needed]

In March 2007, Moneybookers was bought by Investcorp Technology Partners for €105 million[8] and as of 9 March 2009, it was put up for sale by its owners for an estimated £365 million.[9]

In 2008, Moneybookers claimed to operate in 200 countries of the world and handle over 6 million accounts.[10]

In February 2010, The Sunday Times ranked Moneybookers as the fastest growing private equity backed firm in the United Kingdom based on profits.[11] In 2011, the company's customer base reached 25 million, including 120,000 merchant accounts,[12] its payment gateway being integrated by a number of global online brands such as Facebook, Skype and eBay.[13][14]

In August 2013, CVC Capital Partners acquired Skrill for €600 million.[15]

As of 2014, Skrill has been approved by the New Jersey Division of Gaming Enforcement (NJDGE) as the only sanctioned digital wallet for New Jersey internet gambling.[16]

In March 2015, it was Optimal Payments, parent company of the Skrill's rival Neteller, announced its official proposal for acquisition of Skrill Group for €1.1 billion. The deal is to be finalized in the third quarter of 2015 according to the parties.[17]

Logo used during rebranding transition from 2011 to 2013.

Rebranding

In September 2011, Moneybookers announced that they would rebrand their service as Skrill.[18] The rebranding of the product was completed in 2013.[19]

Service

According to a Better Business Bureau review, Skrill has a very poor reputation with fraudulent behaviour. The review noted 52 complaints submitted by victimized users, with most of the complaints citing unauthorized and fraudulent charges, poor and unreachable customer service, and deceptive selling practices, almost all of which appear to be linked to sudden account freezes and withheld funds.[20] Many customer reviews are favorable, for example in a 2011 survey by the online seller news blog eCommerce Bytes, Skrill received the second highest ranking out of all payment services.[21]

Skrill allows for sending and receiving payments in 41 currencies, supporting major credit and debit cards. Restrictions include countries on US and/or EU economic sanctions list. Since 2008, US-based customers could not receive money from non-US Skrill accounts, and non-US customers could not upload funds or send payments using US payment cards or bank accounts. As of February 2013, United States is not included on the list of supported countries.[22]

Skrill accounts can be held in any of major currencies but once the first transaction is made it is not possible to change the account's currency.[citation needed]

Individual customers can open an account with Skrill through registering their email address and certain personal data on the company's website. Completing an optional identity verification process allows sending/receiving higher-value payments. Accounts are identified by email address(es) associated with them; consequently, payments from a Skrill account (other than withdrawals to own bank account or a payment card) are processed by "sending" money to an email address. An email address once assigned to a Skrill account can only be altered or removed with help of Skrill support, and there is a limit of four email addresses per account. An "inactivity fee" is charged on accounts that have not been used for a more than 12 months.[23]

Customers can purchase a Skrill-branded prepaid card, linked to the account, in one of the four currencies: USD, EUR, PLN, and GBP.[24]

High-turnover customers are offered premium membership called "Skrill VIP" that includes additional features, such as a security token, multi-currency accounts and the ability to earn loyalty points.[25]

For businesses, Skrill offers a payment gateway, escrow payments as well as web SMS and fax sending services. Unlike some of its competitors, Skrill does not usually get involved in merchandise disputes, and the availability of credit card chargebacks may be limited.[citation needed]

WikiLeaks controversy

In August 2010, Skrill blocked the account operated by WikiLeaks as a donation collection account, citing the organisation's addition to Australian blacklists and American watchlists. This decision came under fire by free speech activists worldwide as complicit with out-of-court pressure applied on WikiLeaks by the government of the United States, as WikiLeaks had not been directly charged with any crime.[26]

Sponsorship

As of the start of the 2013/14 English football season, Skrill agreed to sponsor the Conference football league. The initial three year deal saw the league's three divisions known as the Skrill Premier, Skrill South and Skrill North. However, the deal was ended after less than one year.[27]

See also

References

  1. ^ "Proposed acquisition by Optimal Payments of Skrill to create a leading global player in online payment and digital wallets services" (PDF). Retrieved 26 March 2015.
  2. ^ "Skrill Holdings Limited: Private Company Information". Retrieved 26 March 2015.
  3. ^ "Skrill - TotallyGaming.com". Retrieved 26 March 2015.
  4. ^ "Skrill (Moneybookers) - Crunchbase". Retrieved 26 March 2015.
  5. ^ "Moneybookers.com whois record". InterNIC. 24 January 2003. Retrieved 26 March 2015.
  6. ^ "Company information for SKRILL LIMITED (04260907) incorporated 27-07-2001". Retrieved 26 March 2015.
  7. ^ "Moneybookers Ltd. Launch Electronic Money Transfer Website". 4 January 2002. Archived from the original on 4 January 2014. Retrieved 26 March 2015. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  8. ^ "Investcorp Technology Partners Undertakes Buyout of Moneybookers Limited for EUR105 Million". 28 March 2007. Retrieved 26 March 2015.
  9. ^ "Investcorp to sell Moneybookers". Telegraph.co.uk. 9 March 2009. Retrieved 26 March 2015.
  10. ^ "Results for the year ended 31 December 2008". 9 March 2009. Archived from the original on 25 July 2009. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  11. ^ "Buyout Track 100" (PDF). The Sunday Times. 7 February 2010. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  12. ^ "Skrill's customer base has reached 25 mln in 2011". 19 March 2012. Retrieved 26 March 2015.
  13. ^ Stafford, Philip (8 March 2009). "Moneybookers up for sale". Financial Times. Retrieved 26 March 2015.
  14. ^ "eBay, Moneybookers & Paymate – Amazon launch FPS". Tamebay. 6 February 2009. Retrieved 26 March 2015.
  15. ^ Williams, Christopher (19 August 2013). "CVC buys PayPal rival Skrill for £500m". The Telegraph. Retrieved 26 March 2015.
  16. ^ "US Online Poker, New Jersey, and Skrill USA : What's in Store for 2015?". CardsChat. 18 December 2014. Retrieved 26 March 2015.
  17. ^ "Neteller Acquires Skrill". 25 March 2015. Retrieved 26 March 2015.
  18. ^ "Skrill is the Future of Moneybookers". 28 September 2011. Retrieved 26 March 2015.
  19. ^ "Our company - Skrill". Retrieved 26 March 2015.
  20. ^ "Skrill Business Reviews by Better Business Bureau". Retrieved 2014-04-25.
  21. ^ "Sellers Choice Online Payment Ratings: Skrill - Moneybookers". Retrieved 2014-05-15.
  22. ^ "Moneybookers: list of supported countries". Retrieved 2013-02-17.
  23. ^ "Moneybookers: Fees". Retrieved 2013-03-20.
  24. ^ "Moneybookers: MasterCard". Retrieved 2013-04-25.
  25. ^ "Skrill VIP". Retrieved 2013-04-25.
  26. ^ David Leigh and Rob Evans, WikiLeaks says funding has been blocked after government blacklisting The Guardian (14 October 2010).
  27. ^ http://www.bbc.co.uk/sport/0/football/26018905
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