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Skrill Payment Gateway Review 2017

Skrill began its existence as Moneybrokers Limited, which was incorporated in the UK in 2001. The company was bought by Investcorp Technology Partners in 2007 and was rebranded as Skrill in 2011; it was acquired by CVC Capital Partners in 2013. Skrill provides a wide range of money transfer mechanisms using the internet. These include digital wallet; Skrill Direct (direct debit payments); and credit and debit card processing.

Skrill has over 36 million account holders who are able to transfer money between 200 countries and in 40 different currencies. Skrill makes a point of the fact that their account holders do not need to reveal their personal financial details.

Review
Skrill Payment Gateway ReviewRating
Features
Ease of Use
Help & Support
Summary
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Products and Features

The Skrill Payment Gateway is a hosted payment platform solution. Customers are redirected from the merchant’s website to the Skrill website where the gateway collects customer payment details. After the payment has been completed, the customer is returned to the merchant’s website and the merchant is sent real time notification that the payment has been made along with transaction details.

The primary advantage of the Skrill payment gateway is that in addition to credit card and debit card processing it offers a range of alternative payment options including direct bank transfer and digital wallet payments.

SolutionProductFeaturesRates
Accept payments on your websiteSkrill Payment GatewaySecure hosted payment page
Credit and debit card payments
Alternative payment methods including direct bank transfer
One tap payments
Credit card processing: from 2.9% plus €0.29
Digital wallet processing from 1.9% plus €0.29
Chargeback fee €25

Skrill Payment Platform

To connect to the Skrill Payment Gateway, merchants are required to include Skrill as a payment method on the checkout or payment page. When the customer clicks Skrill two things happen: the customer is redirected to the Skrill website and Skrill is provided with merchant details including account ID, payment amount, and other information; this is provided in a standard HTML form.

The customer enters payment information and card details on the Skrill website and confirms the transaction. Skrill then requests authorisation from the card issuer, third party provider, or the customer’s bank; the request is approved or declines and the result is displayed on the Skrill payment gateway. The merchant receives notification accordingly.

Integrating the Skrill payment platform with the merchant website is straight forward and requires only a limited amount of programming skill. The gateway is compatible with all mainstream shopping carts.

The Skrill Payment Gateway is able to accept payments from the following:

  • Visa and Mastercard
  • American Express, JCB and Diners Card
  • Maestro
  • Carte Bleue
  • iDEAL
  • Sofort Banking
  • Giropay
  • German Direct Debit
  • Przelewy24
  • Skrill Direct online bank transfer

Merchants may exclude any payment methods they don’t wish to accept.

Additional features of the Skrill payment gateway include:

  • Recurring billing is available either through the payment gateway or as a stand alone product

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What type of merchant account do you need?

  • Single click payment service so that the customer doesn't have to authorise each purchase
  • Refunds can be processed by the merchant back to the customer’s Skrill account

Pricing: payment processing charges are from 1.9% plus €0.29 per transaction for digital wallet payments and from 2.9% plus €0.29 for major credit cards. Chargeback fees are €25.

Verdict

The Skrill payment gateway is an excellent solution for merchants who wish to provide their customers with more payment options than just credit and debit card processing. This is of particular benefit for merchants who sell internationally and wish to allow merchants to pay using local payment methods.

Skrill also provides fully transparent and up-front pricing and while the payment processing costs are a little higher than you might be able to obtain from a more conventional payment services provider, they are competitive and considerably less than PayPal. However the chargeback fee does appear rather high, so merchants operating in high risk industries do need to take care they don’t get a high chargeback incidence.

Next Steps

Skrill is an excellent option for certain merchants, but it is far from the cheapest. To help you find the most cost effective payment solution for your business we have provided a web form where you can enter a few details about your business and receive a number of quotes that are tailored for your specific business needs; these will be sent to you directly from the providers.