Skrill completes Paysafecard.com purchase

Skrill completes Paysafecard.com purchase

After receiving all of the necessary regulatory approvals, London-based online payments provider Skrill Holdings Limited has completed its purchase of Internet prepaid voucher supplier Paysafecard.com Wertkarten AG.

Skrill, which was formerly known as Moneybookers until a rebranding in January of 2011, stated in late-June that the purchase would transform its offerings for merchants and end-users by ‘combining its industry-leading digital wallet service with prepaid solutions available in 31 countries’.

“For both sides this is a strategically important acquisition and we are pleased it is now finalised,” said Siegfried Heimgaertner, Chief Executive Officer for London-based Skrill.

“Paysafecard.com 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.

“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.”

The deal, which was the biggest in Skrill’s history, had been subject to regulatory approvals from the Austrian Finanzmarktaufsichtsbehorde and the UK Financial Services Authority as well as relevant merger control authorities and will see it welcome 150 new members of mostly Vienna-based staff to its organisation.

“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,” said Michael Mueller, Chief Executive Officer for Paysafecard.com.

“We have great faith in Skrill’s entrepreneurial vision and look forward to continuing to grow the business.”