Skrill Buys Paysafecard

• The UK payments specialist Skrill (ex-Moneybookers, mostly owned by Investcorp) announces it has acquired the Austrian prepaid specialist Paysafecard. Skrill intends to help its wallet evolve through adding in an already mature prepaid offer available in about thirty countries.

• This transaction reaching 140 million euros still has to be granted approval by the relevant authorities (FMA in Austria and FSA in the UK) but would be Skrill’s biggest acquisition to this day. Paysafecard’s 150 staff members are to join Skrill’s teams.

Source: Skrill press release

• The new group will represent 27 million users, 130,000 e-merchants and about 100 payment modes in roughly 40 currencies.

• Moneybookers became Skrill in October 2011 and bets on developing its on- and off-line offers, here enhanced with Paysafecard. Paysafecard’s prepaid coupons can be used online; they are available in about 450,000 physical stores.

• This agreement bears a significant strategic aspect turned towards market concentration, and displaying their will to give rise to a global cross-border offer.

• Finally, yet another testimony of Skrill’s diversification will, last January, they launched a contactless acceptance service linked to their wallet for retailers, 1-Tap (see February 2012 Insight).