Skrill introduces new rapid transfer system for fast payments

The UK-based fintech firm Skrill has recently unveiled a new rapid transfer system that will allow its members to quickly make payments via online banking in a similar vein to Trustly’s Pay n Play system for online casinos.

Skrill’s system allows customers to deposit funds into their skrill wallet which can then be used to make purchases using their bank’s rigorous security measures. This also means that payments can be processed easily because there are no additional details or systems – it simply requires the same details used for online banking. All you need to do is select ‘Rapid Transfer’ as a payment option and choose your bank before inputting your online banking details and confirming the payment.

Rapid Transfer is supported by over 170 banks, a plethora of top brands including Vivaticket, Gamigo, and Gameforge; and is available in nineteen countries such as the UK, Sweden, Spain, Germany, and France. Further, Skrill is available in over 40 currencies.

Another benefit of the system is that customers can also earn loyalty points. When you pay with Rapid Transfer, you can earn points for Knect, the Skrill loyalty program. These points can then be exchanged for rewards, cash vouchers, big bonuses, and more.

Another big step for Skrill in the fintech industry

Similarly to Trustly’s innovative ‘Pay n Play’ payment solution system for casinos, Skrill is increasingly popular within the world of online casinos. By simply registering with Skrill’s service you can make online betting payments fast, smart, and discreet. Some sites also offer exclusive promotions when players use Skrill to play – GGBET is currently offering a welcome deposit bonus of up to €100 when Skrill is used.

Based in the UK, the firm started life as Moneybookers Limited. By focusing on low-cost international money transfers, Moneybookers quickly grew, reaching 25 million users by 2011. That same year, they announced that they would be rebranding as Skrill. In March 2015, Skrill was acquired by Optimal Payments, Neteller’s parent company, for €1.1 billion.

Skrill operates a VIP premium service for its top clients that guarantees numerous benefits such as 24/7 support, priority bank uploads, higher limits on their transactions, and even lower fees. Silver or above members pay no fees to send money or to withdraw money from their bank.

Like PayPal, Skrill is also looking to the future by adopting cryptocurrencies into their service, and in June 2018, they introduced a crypto service that allows customers to purchase cryptocurrencies using their Skrill wallet balance. They can hold them to an interest in their Skrill wallet while not being able to withdraw the bought cryptocurrencies to a native wallet or any other cryptocurrency exchanges.