Paysafe partners with Skrill for online bank transfer solution

Lorenzo Pellegrino, CEO of Rapid Transfer at Paysafe Group

Paysafe Group has announced a partnership with digital lending platform Skrill USA in a bid to launch its Rapid Transfer payments service through Skrill’s digital wallet, in the US.

According to the supplier, Paysafe’s solution will enable US consumers involved in transactions with merchant clients of Skrill to make instant online payments from their bank account without leaving the merchant’s website. Rapid Transfer aims to provide a secure online banking experience with credit cards and alternative payment methods. The solution is expected to support merchants’ customer conversions.

Lorenzo Pellegrino, CEO of Rapid Transfer at Paysafe Group, said: “Our Q4 2018 research reveals that only a fifth of smaller US online merchants (22%) offer direct bank transfer. This suggests there is significant space for Rapid Transfer’s growth in the US market, especially considering the product’s benefits for card, not present merchants and their customers as well as its strong uptake across Europe.”

In August 2015, Optimal Payments acquired Skrill Group, creating the Paysafe Group. Established in 2001 and headquartered in London, Skrill provides digital payments solutions to consumers and businesses around the world.

Recently,  Paysafe Group announced the appointment of Philip McHugh as its Chief Executive Officer.

A recent study conducted by the Paysafe Group in biometrics stated that over half of consumers in the UK (53 percent) are worried that the shift to biometrics to authenticate online payments will dramatically increase the amount of identity fraud.

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