Skrill announces acquisition of Ukash

Skrill announces acquisition of Ukash

December 3, 2014.

Skrill, one of the most prominent online payment service providers, has announced that it will be acquiring Ukash, one of the top prepaid voucher services in the world. Once the acquisition is complete, Skrill is hoping to strengthen its presence in the cash voucher segment, which it entered into after acquiring Paysafecard in 2013 for €140 million. Skrill’s acquisition of Ukash will be completed as soon as both companies satisfy the necessary government regulations.

Reaching more people than ever

By acquiring companies like Paysafecard and Ukash, Skrill hopes to be able to access more consumers around the world than ever before, including the growing number of Skrill casino players who are turning to pre-paid cash vouchers to deposit money safely and quickly into their favourite sites.

David Sear, CEO at Skrill, hopes to take advantage of the rapidly growing voucher segment. He released the following statement to the press: “The acquisition of Ukash will significantly extend our reach in the high-growth pre-payment market. We are proud to support both consumers and online businesses with the world’s largest online cash replacement payment method and look forward to serving a combined base of millions of consumers around the world.”

Udo Müller, the CEO of Paysafecard, believes that Skrill’s acquisition of Ukash will provide an added layer of synergy that will allow the corporation to make better use of its resources than ever. He added, “Ukash increases paysafecard’s global presence and will open up new opportunities for online businesses.”

David Hunter, CEO of Ukash, is also enthusiastic about the acquisition. He told the press, “By becoming part of Skrill Group, Ukash will come together with paysafecard to deliver payment innovation and give customers choice and confidence when engaging in the digital world.”

What is Skrill?

Skrill, formerly known as Moneybookers, is one of the largest online payment services in the world. It currently has more than 36 million account holders in 200 different countries and supports 40 currencies. Users can add money to their e-wallet accounts with credit cards and many other methods, and spend or receive funds without having to share private financial data. Over the years Skrill has become one of the most prominent methods for depositing into and withdrawing from online casinos thanks to its widespread availability, relatively low transaction costs, and fast (often instant) transfers.

What are Paysafecard and Ukash?

Paysafecard and Ukash are two of the world’s largest prepaid cash voucher services. Unlike most other online payment methods, Paysafecard and Ukash allow people to spend money online without a credit card or bank account. Vouchers can be purchased in various shops, ATMs, and kiosks with real cash. The funds can then be spent instantly simply by entering a code that is unique to each voucher.