Paysafe extends Skrill’s cross-border digital wallet to U.S. consumers

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Paysafe is expanding the reach of its Skrill digital wallet to U.S. consumers who will be able to use it to send funds to 18 countries.

The upgrade is timed to meet growing demand Skrill sees for remittances flowing to emerging markets including Mexico and India, according to a Monday press release.

Skrill plans to expand the number of countries where U.S. customers may send funds, the release said, noting that a recent Skrill survey indicated that 38% of U.S. consumers prefer using a digital wallet to transfer funds across borders.

U.S. consumers may send funds through Skrill by linking a bank account, credit or debit card or send funds directly from the Skrill account, the release said. There is no cost to open a Skrill account and U.S. senders pay no fees.

Skrill’s Money Transfer service launched two years ago in Europe, and early this year Skrill launched a prepaid Visa card in the U.S., enabling customers to use their Skrill account balance for in-store and online purchases or cash withdrawals.

“There has never been a more important time for remittance services,” said Lorenzo Pellegrino, Skill’s CEO, in the release.

Early in the coronavirus lockdown, Skrill waived fees for global cross-border transfers as Pellegrino, who’s based in Italy, observed the need for digital payment alternatives firsthand.

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Digital payments Mobile wallets Cross border payments