Skrill - Bold Move From Online Payment Processor to a Gambling Affiliate
Online payment provider Skrill (used to be Moneybookers) was recently acquired by Optimal Payments. This €1.1 billion acquisition deal has put together two of the most popular payment processors for online gambling customers – Both known as Skrill and Neteller – They are now both being managed by the same parent company.
It is known that both processor services rely a lot on many Internet gambling operations, a substantial volume of their revenues is conduced by these operations. When this acquisition transaction was completion, the executives for the two processors - Skrill and Optimal Payments - said that their intends was to increase their proceeds derived from online gambling, as they predict that the market will be growing at a rapid pace in the future.
Changes to Skrill
Skrill, founded in 2001, has undergone a few changes in order to have grown into what it is now. At first the company began as an online payment processor, over time it became much larger and is now involved in other activities as well. By 2002 ir was handling about 2 million users who had registered, by 2008 it customer bas had grown to 6 million in over 200 countries under the Moneybookers registration. Moneybookers change the name to Skrill in 2010 and now currently handle over 36 million accounts in the 200 different countries. They operate in 30 different languages, employing 560 people, based in their London headquarters and in offices across Europe and USA. Skrill operates 40 different currencies around the globe and they also offer services to 156,000 businesses worldwide.
Skrill customers can receive and send money, deposit funds on many international gambling sites, are able to make use of Skrill’s prepaid MasterCard at various locations all over the world.
High Reputation
They have an excellent reputation with a result this ewallet was given the ‘green-light’ from the New Jersey Division for Gaming Enforcement to be able to use their services live in the state in 2013.
Skrill is now considered to be among the preferred payment processors that are listed on websites of more online bookmakers as well as card rooms, and is considered by many of the gambling customers to be amongst the most efficient providers to transfer money for internet gambling purposes.
Skrill administration through the UK’s Financial Services Authority makes it subject to the UK’s financial laws. Over the past several years they have also been a direct competitor of two giants in the financial industry, PayPal and Neteller.
During August 2015 Skrill as a competitor ended after completion of the acquisition deal with Optimal Payments.
During March of 2015, Optimal Payments who are the owners of various payment services - Neteller, NETBANX, Net+, ad others, made a proposal to purchase Skrill offering €1.1 billion ($1.2 billion). After negotiation the deal was finalized in August, after shareholder as well as regulatory approval.
The Executives of both burlinesses said this merger was the beginning of a powerful force, a global fast growing fintech champion, as well as a fast growing digital payment arena. The further noted that this also gives Optimal Payments a opportunity to expand their presence in the ongoing online gambling market.
Multi-Faceted Skrill
Skrill not only brings to the table a traditional payment processing service, they have also expanded into the world of gambling affiliate marketing, they offer exclusive betting and gaming options plus bonuses for some of the biggest gambling sites.
By using affiliate marketing, retailers and businesses are able to popularize their products and services through affiliates using a broad range of approaches such as organic SEO, content marketing, orthodox options, email and many others less traditional.
Optimal Payments have not only acquired a payment processor they have inherited with it a fully fledged Affiliate markets structure that is quite lucrative for many.