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EcommerceBytes-NewsFlash, Number 2642 - September 30, 2011 - ISSN 1539-5065    2 of 3

Skrill, Born Moneybookers, Extends Rebranding Campaign

By Kenneth Corbin
EcommerceBytes.com
September 30, 2011




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Skrill, a prominent online payments provider based in Europe, is pressing ahead with its rebranding campaign as it looks to ramp up its presence in the United States and mount a competitive challenge to PayPal.

Born as Moneybookers, Skrill is implementing its rebranding transition in incremental stages, with plans to retire the Moneybookers name completely next summer.

In the meantime, with its latest step the firm is placing the Skrill logo alongside the Moneybookers logo in both its consumer- and merchant-facing products, in addition to a redesign of the company website.

Skrill is promising that the transition will be seamless for merchants and shoppers, advising existing customers that they won't need to take any steps to continue using the payment service. The firm is recommending, however, that online sellers update the logo on their checkout pages once the Moneybookers name is dropped.

By the time the transition is finalized, Skrill is planning a complete website overhaul along with a slate of "improved payment services."

Company representatives did not immediately respond to requests for additional details on the transition.

Skrill, headquartered in London, has established a substantial global footprint, with more than 20 million account holders and a service portfolio that spans more than 200 countries and more than 40 currencies. The firm boasts a product portfolio of more than 100 payment options, and has found its way onto major Web platforms such as eBay, Skype and Facebook.

"Skrill is a universal payment brand that works well internationally and has been optimized to stand out and ultimately aid conversion at checkout pages of online shops," Martin Ott, Skrill's co-CEO, said in a statement.

The company is in the process of a major push into the U.S. market, where it has been building out a full-service e-wallet offering that will enable consumers to fund an account and transfer payments to individuals and merchants.

For U.S. merchants, the firm has devised a transaction fee schedule that undercuts market leader PayPal.

For merchants with monthly sales of up to $3,000, Skrill charges a transaction fee of 2.9 percent plus 29 cents. PayPal charges the same percentage plus 30 cents per transaction. In the next tier of sales, ranging from $3,000.01 to $10,000, Skrill charges transaction fees of 2.4 percent plus 29 cents. For the same volume range, PayPal collects 2.5 percent plus 30 cents per transaction. Those slight discounts continue through the top ranges of the fee schedule.

About the Author
Kenneth Corbin is a freelance writer based in Washington, D.C. He has written on politics, technology and other subjects for more than four years, most recently as the Washington correspondent for InternetNews.com, covering Congress, the White House, the FCC and other regulatory affairs. He can be found on LinkedIn here.

About the author:

Kenneth Corbin is a freelance writer based in Washington, D.C. He has written on politics, technology and other subjects since 2007, most recently as the Washington correspondent for InternetNews.com, covering Congress, the White House, the FCC and other regulatory affairs. He can be found on LinkedIn here.

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