Overview

Founded in 2001 with its parent company and headquartered in London, UK, Skrill Payments (formerly Moneybookers) is the digital wallet payment product of Skrill, part of the Paysafe group. It is a representative payment platform e-money wallet for cross-border payments and online spending, packaging wallet collection, currency conversion, prepaid cards, and merchant collection into one unified payment capability serving users in 100+ countries.

Skrill Payments has 50,000,000+ registered users, supports 100+ countries and 40+ currencies, and charges a standard transaction fee of just 1.9% with free P2P transfers. Its product line covers digital wallets, Visa prepaid cards, and merchant payment gateways, and it holds a UK FCA e-money license.

Key Strengths

  • 100+ countries and 40+ currencies: Cross-border payments and currency conversion happen inside the wallet without multi-country bank accounts; see Cross-border Payment Comparison.
  • Low fee structure: A standard transaction fee of 1.9% with free P2P transfers and top-ups beats the 3%-5% cost of traditional wire transfers; see Payment Gateway Rate Comparison.
  • Prepaid card loop: Visa prepaid cards (physical and virtual, 2 types) are linked to the wallet for in-store spending and ATM withdrawals, offering flexible fund access.
  • Merchant payment gateway: 1 API integration receives wallet, card, and local payment method payments from global consumers with transparent fees; see Website API Integration Basics.

Product Ecosystem

Digital Wallet

The core e-money wallet supports top-ups via bank transfer, cards, and local methods, with real-time conversion and balance management across 40+ currencies.

Skrill Prepaid Card

Visa-branded physical and virtual cards are linked to the wallet for spending at Visa merchants and ATM withdrawals worldwide, with spending limits and usage switches.

Merchant Payments

Payment buttons, payment links, and API integration receive wallet and card payments, with 100+ local payment methods and recurring billing plus instant transaction notifications.

P2P Transfers

Free real-time transfers between users via email or phone number, without sharing bank account details, ideal for small cross-border remittances between individuals.

Limitations

  • Regional access restrictions: Not available for registration in mainland China and some other regions; see Alipay/WeChat Payment Integration Guide for alternatives in those markets.
  • Higher withdrawal fees: Wire withdrawal fees can reach EUR 5.50 in some regions, with wider spreads on minor currencies; assess total costs for large outbound funds.
  • Slower support: Support is mainly ticket and email based with limited live chat hours, so dispute handling can be slower than 24/7 providers.

Use Cases

  • Personal Cross-border Transfers (★★★★★): Free P2P transfers with fair exchange rates for cross-border remittances.
  • Online Spending (★★★★★): 100+ countries and 40+ currencies covering a wide range of overseas e-commerce platforms.
  • Merchant Collection (★★★★☆): Simple gateway integration with a competitive 1.9% fee for small and mid-sized merchants.
  • Prepaid Card Spending (★★★★☆): A wallet-plus-card loop for users who frequently spend across countries.
  • High-frequency Trading Wallets (★★★☆☆): Active users should watch the inactivity fee after 12 months of no activity.

Pricing

Service Fee
Bank transfer top-up Free
Credit card top-up 1.9%
Receiving payments 1.9% (paid by recipient)
P2P transfers Free
Currency conversion Exchange spread of about 1%-3%
Wire withdrawal EUR 1.50 - EUR 5.50 (by region)

Note: The prepaid card costs about EUR 10/year in some regions; the inactivity fee is EUR 5/month after 12 months of no activity.

FAQ

  • What is the difference between Skrill Payments and Skrill? Skrill is the digital wallet brand; Skrill Payments is its payment product form, and both share the same wallet account and payment network; see Cross-border Payment Platform Comparison for wallet positioning.
  • How is it different from PayPal? Skrill's standard 1.9% fee is lower than PayPal's 2.99%, with a focus on cross-border and prepaid card scenarios; see Cross-border Payment Platform Comparison.
  • Is it usable in China? Registration is not available in mainland China; registered users abroad can receive payments from China; see Alipay/WeChat Payment Integration Guide for alternatives.
  • How do I avoid the inactivity fee? Log in at least once or complete a transaction every 12 months; long-idle accounts should transfer balances out; see Multi-currency Payment Account Guide.
  • What is the merchant settlement cycle? Standard T+2 business days, with shorter cycles negotiable for high-volume merchants; first settlement for new merchants is about 7-14 days; see Cross-border Collection Comparison.