Skrill acquires paysafecard.com
Written by Karen Moss
The acquisition by Skrill of paysafecard.com Wertkarten AG, the Austrian prepaid payments business, has been completed. Skrill is majority owned by Investcorp Technology Partners.
The acquisition represents a hugely significant step forward for Skrill, expanding its position as one of the world’s largest digital wallet providers. paysafecard’s products allow payments without a credit card or bank account at more than 4,000 online stores and more than 450,000 sales outlets in 33 countries across Europe, North America and South America. In 2012, it processed more than 55 million transactions.
Skrill and paysafecard’s combined offering will deliver an end-to-end stored value payment solution, combining a secure prepaid product that complements Skrill’s existing payments service. paysafecard’s offline distribution network adds to Skrill’s already significant online network that boasts more than 100 payment options in 200 countries worldwide.
The joining together of Skrill and paysafecard also opens up the business to new markets within under-banked populations.