Skrill Group Acquires Ukash Expanding Its Secure Prepaid Payments Solutions
- The prepayment market is a key area of focus for the UK based company and going forward the new acquisition subject to final regulatory approvals is going to boost Skrill’s position on a global scale.
According to a company announcement issued today, UK- based global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company, Skrill Group, signed an agreement with electronic money system Ukash. The move aims to boost Skrill Group’s rapidly growing business segment paysafecard, which is a secure prepaid payment system for online purchases.
Paysafecard is a payments system which allows clients to securely transfer money to shop online. After a customer funds his/her card in a physical outlet offline the funds can be used online by entering a 16 digit Pin number.
After Skrill Group acquired paysafecard last year it has become one of the fastest growing segments of the firm’s business. Combining paysafecard with Ukash will enable Skrill to further expand its digital payments business in both established and emerging markets.
The CEO designate of Skrill, David Sear, who will take the helm at the company in January, commented, “The Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Ukash will significantly extend our reach in the high-growth prepayment 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."
According to the CEO of paysafecard, Udo Müller, “The acquisition of Ukash will bring together two prepaid technologies with strong synergies, enabling even more customers to pay online as safely and easily as with cash. Ukash increases paysafecard’s global presence and will open up new opportunities for online businesses.”
The financial terms of the acquisition have not been disclosed. The completion of the transaction is subject to regulatory approvals.
According to a company announcement issued today, UK- based global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company, Skrill Group, signed an agreement with electronic money system Ukash. The move aims to boost Skrill Group’s rapidly growing business segment paysafecard, which is a secure prepaid payment system for online purchases.
Paysafecard is a payments system which allows clients to securely transfer money to shop online. After a customer funds his/her card in a physical outlet offline the funds can be used online by entering a 16 digit Pin number.
After Skrill Group acquired paysafecard last year it has become one of the fastest growing segments of the firm’s business. Combining paysafecard with Ukash will enable Skrill to further expand its digital payments business in both established and emerging markets.
The CEO designate of Skrill, David Sear, who will take the helm at the company in January, commented, “The Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Ukash will significantly extend our reach in the high-growth prepayment 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."
According to the CEO of paysafecard, Udo Müller, “The acquisition of Ukash will bring together two prepaid technologies with strong synergies, enabling even more customers to pay online as safely and easily as with cash. Ukash increases paysafecard’s global presence and will open up new opportunities for online businesses.”
The financial terms of the acquisition have not been disclosed. The completion of the transaction is subject to regulatory approvals.