Skrill completes acquisition of paysafecard

LONDON -- (PRESS RELEASE) -- The closing of the acquisition by Skrill - Moneybookers Ltd of paysafecard.com Wertkarten AG, the Austrian prepaid payments business, has been completed today. Skrill is majority owned by Investcorp Technology Partners.

As the European market leader in prepaid online payment, the acquisition of paysafecard represents a hugely significant step forward for Skrill, expanding its position as one of the world’s largest digital wallet providers. paysafecard’s products allow payments without a credit card or bank account at more than 4,000 online stores and more than 450,000 sales outlets in 33 countries across Europe, North America and South America. In 2012, it processed more than 55 million transactions.

Skrill and paysafecard’s combined offering will deliver an end-to-end stored value payment solution, combining a secure prepaid product that complements Skrill’s existing payments service. paysafecard’s offline distribution network adds to Skrill’s already significant online network that boasts more than 100 payment options in 200 countries worldwide. The joining together of Skrill and paysafecard also opens up the business to new markets within under-banked populations.

“For both sides this is a strategically important acquisition and we are pleased it is now finalised. paysafecard complements our current offering and strengthens our position in the key gaming and digital media markets verticals, establishing us as a provider of end-of-end transfer of stored value,” said Siegfried Heimgaertner, CEO of Skrill. “This is another significant step towards our long-term ambitions to become the first choice for online payments, helping our end-customers and merchants to pay and get paid globally.”

Michael Mueller, CEO of paysafecard, said, “Having grown into a market leader for prepaid payments our consolidation with Skrill is a natural next step for the business, taking our products to a global network of merchants and consumers. We have great faith in Skrill’s entrepreneurial vision, and look forward to continuing to grow the business.”