December 6, 2018
Skrill’s new international money transfer service launched with zero transfer fee and no FX mark-up
London, UK--Paysafe, a leading global payments provider, announces the launch of its updated Skrill money transfer service. The service is now being offered to existing and new customers with no foreign exchange (FX) mark up or transfer fees. Skrill customers can transfer money to bank accounts and mobile wallets in over 40 countries at the mid-market FX rate, with zero transfer fee.
Skrill’s money transfer service has been built with the customer at the centre of the service with a slick and frictionless user experience. The team is continually innovating to solve customer pain-points around moving money globally, particularly into and out of the emerging economies, leveraging its established payment network partnerships and customer base.
Skrill’s money transfer service offers a quick, secure and cost-effective way for expats to transfer money back home, removing the fees and hidden costs associated with many competing services. With increasing numbers of people living overseas, the market opportunity for money transfer is well documented. The total value of remittances reached US$582.4 billion in 2016, according to the World Bank, which also estimated 3% to 4% per year growth in 2017 and 2018.
Lorenzo Pellegrino, CEO of Skrill, NETELLER and Income Access at Paysafe, said: “This is a really exciting milestone for our money transfer service. As well as our fantastic new user experience, we are delighted to offer ways for our customers to send money completely free of charge.”
He added: “We’re not planning to stop there – we’re continually strengthening and expanding our services to offer more convenient local payment options in new locations and new features to make transferring money easier than ever. This, combined with the other services of the Skrill digital wallet, enables us to provide our customers with a standout, industry leading solution.”
Paysafe Group (Paysafe) is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of over US $80 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.