Skrill is a one of the leaders in the online casino payment market. Over the course of the past year, the company has been expanding its horizons into the operation of prepaid cards, and has recently acquired UKash to get even further. The acquisition deal was made on November 28, 2014, for an undisclosed amount. It is the second prepaid card acquisition that Skrill has made this year, after purchasing paysafecard in 2013.
Skrill is an e-wallet solution that is similar to PayPal. Whenever an online pokie player wants to deposit money into their account, Skrill communicates with their bank account to take the funds directly. This way, the casino operator does not have access to the user’s credit card information or banking details. It is considered one of the safest methods of payment in the online world.
Prepaid cards like UKash and paysafe card allow users to deposit money into their online casino accounts without having to perform any online banking processes. You simply purchase a prepaid card from a land-based retailer and transfer funds from the card to your online bank account.
These two types of online casino payment options are quite similar, so it is no wonder Skrill is interested in getting involved in the prepaid card market. Skrill aims to offer a wide array of safe online payment options for online casino players, and the acquisition of UKash will help to solidify the company’s position as a leader in the industry.
“The acquisition of Ukash will significantly extend our reach in the high-growth prepayment market,” says David Sear, CEO of Skrill.
“We are proud to support both consumers and online businesses with the world’s largest online cash replacement method and look forward to serving a combined base of millions of consumers around the world.”
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