Who is Skrill?
Skrill is a digital wallet and online payment service that provides electronic money storage, funds transfer, and payment acceptance for consumers, businesses, and online merchants.
- Digital wallet and e-money accounts for consumers and businesses
- Cross-border money transfer and account-to-account payments
- Merchant payment acceptance and online checkout integration
- Card-linked funding options tied to stored balances
- Transaction monitoring, fraud controls, and regulatory compliance
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More About Skrill
In enterprise environments, Skrill is positioned mainly as a payment option for online merchants, digital platforms, and marketplaces that need to accept multiple payment methods through a single integration. Merchants typically connect through application programming interfaces and hosted checkout pages, which allow payment flows to be handled without storing sensitive cardholder data on the merchant's own infrastructure. This positioning reflects the broader shift toward digital wallets as a means of completing online transactions.
From an architectural standpoint, the service relies on account-based ledgers that record balances, transfers, and settlement events. Secure communication protocols such as TLS protect data in transit, and tokenization limits exposure of sensitive payment data. Integrations commonly use RESTful interfaces and webhook notifications so that order management and reconciliation systems can respond to payment status changes. Payment card industry security standards and anti-money laundering obligations shape how these components are designed and operated.
Skrill belongs to the category of digital wallets and online payment service providers, which includes electronic money institutions and alternative payment methods. Within this category, it competes with other wallet-based and account-based payment providers, as well as with card acquiring services that process direct card transactions. The principal distinction lies in whether funds are held in a stored account or passed directly between card networks and merchant banks.
The business significance of these offerings centers on reaching customers who prefer stored-balance payments, reducing checkout friction, and supporting multi-currency transactions. For consumers and businesses, stored e-money accounts enable sending and receiving funds across borders under published fee schedules. Organizations evaluating such services typically assess settlement timing, currency conversion practices, fraud controls, and data security posture.
Within directory positioning, Skrill is classified in the financial services sector, specifically within diversified financial services and payments. Its current solution areas focus on digital wallet functionality, online payment acceptance, and cross-border transfer services, which align with the payments domain of enterprise financial technology.
Our description of Skrill. Updated November 2026.
