Paysafecard Purchased by Skrill
February 6, 2013
The industry for online payment processors is dominated by a handful of companies. Skrill and Neteller, for example, are two of the most popular and successful online wallets that offer payment solutions to online gambling sites. A lot of local and regional options exist to serve different markets, but when these smaller options get bigger, they tend to be purchased by one of the larger companies. This is the natural order of things because medium-sized companies can make more money in a faster amount of time by selling themselves off to the bigger businesses who can use their resources.
Recently, such a purchase happened whenever Paysafecard was bought by Skrill. Paysafecard is a pretty big deal in Europe and North America where it can be used in over 450,000 land-based facilities. There are also over 4,000 online stores that accept Paysafecard, so it's easy to see that it has already positioned itself to challenge some of the major players in the payment processor industry. With over 55 million transfers of funds in 2012 alone, Paysafecard was a great purchase for Skrill in order to keep their position in the industry while simultaneously growing to cover more markets.
Skrill CEO Siegfried Heimgaertner released a statement about the purchase that said, "For both sides, this is a strategically important acquisition, and we are pleased it is now finalised. Paysafecard complements our current offering and strengthens our position in the key gaming and digital media markets verticals, establishing us as a provider of end-of-end transfer of stored value. This is another significant step towards our long-term ambitions to become the first choice for online payments, helping our end-customers and merchants to pay and get paid globally."
These are great ambitions that Heimgaertner has, but they are grounded in reality. Skrill, formerly known as MoneyBookers, has steadily grown each year for quite a while. They have inched their way up to a position where they are near the top of the pile when it comes to online payment processing, especially for the online gambling industry. The main things that Skrill focuses on for their customers is reliable payouts, security for their financial and personal information, and being accepted at almost every popular online gambling site. By focusing on these three points, they have been able to gain a high number of loyal users in the online gambling world, and their popularity increases each year.