Skrill Expands Prepayment Solutions by Acquiring Ukash

Skrill, one of the most prolific online gambling deposit payment methods is all set to expand its prepayment solutions, as the company has announced the signing of an acquisition agreement with UK’s leading electronic payment system, Ukash. The merger of the two online payments service providers will enhance the Paysafecard prepayment system that Skrill had acquired in February 2013.

Once the Ukash acquisition receives the necessary regulatory approval and comes to full realisation, Skrill will be serving millions of customers, including online gambling operators, bettors, and real money game players that transact deposit and withdrawal payments across the globe.

Skrill, on its own, already has more than 36 million account holders, regularly sending and receiving payments securely in 200 countries at minimal costs, choosing from 40 available currencies and more importantly, without having to disclose personal financial information. The company takes pride in having a global payment network and solutions, which Skrill can tailor-fit according to business needs and launch via a single-step integration. Accredited merchants on the other hand, acquires an ability to extend global reach by offering Skrill’s over 100 local payment options.

After acquiring the Vienna-based Paysafecard in 2013, including its numerous subsidiaries in London, Dusseldorf, and New York, Skrill was able to expand its capabilities as one of the largest global providers of eWallet payment systems. The addition of the Paysafecard product, which works like a prepaid mobile phone card and available in more than 450,000 retail outlets and over 4,000 web-based facilities that span 39 countries across Europe and the Americas, had enhanced and enlarged Skrill’s prepayment solutions offerings.

Once the Ukash acquisition is complete, Skrill’s array of payment solutions will include a cash payment option that makes use of the Ukash voucher containing a unique Ukash code. Consumers, including online gamblers can pay cash at thousands of websites, or load their digital wallets and prepaid cards, using a Ukash code that they can purchase online or offline at retail stores, gas stations, vendor kiosks, or even via ATM. The Ukash alternative cash payment system is distinctive because it does not require consumers or online punters to register when purchasing a Ukash code.

Incoming Skrill CEO David Sear announced that the Ukash acquisition will significantly broaden the extent of their reach in the fast-growing prepayment market and that it makes them proud to add the world’s largest cash alternative payment method to the support services they provide to both online consumers and Internet-based merchants.

The CEO of Ukash, David Hunter, is equally pleased with the recent merger as he concludes that in becoming part of the Skrill Group, Ukash and the Paysafecard system will merge to furnish disbursement innovation that will increase customer confidence when transacting financially in the digital world.

Paysafecard CEO Udo Müller likewise expressed his agreement, stating that the Skrill Group’s acquisition of Ukash will combine two prepayment technologies with well-built synergies, giving a greater number of customers the capability to make cash payments easily and safely. Müller remarked that Ukash would increase Paysafecard’s worldwide presence, and therefore open up new avenues for online businesses.