Skrill USA launches virtual version of Skrill Visa Prepaid Card

By Pavithra R

Paysafe, a leading integrated payments platform, has announced that the Skrill USA digital wallet has unveiled a virtual version of its existing Skrill Visa Prepaid Card.

The latest innovation offers Americans a fully digital payments solution that can be activated instantly to spend their Skrill balance online wherever Visa is accepted.

The new Virtual Visa Prepaid Card, which is issued by the New York-headquartered Community Federal Savings Bank (CFSB) and allows Skrill USA customers to shop online almost anywhere. The new virtual card offers an alternative to the physical CFSB-issued Skrill Visa Prepaid Card, and involves a streamlined application process, and can be activated in their account within seconds.

Once activated, users can shop online immediately. All card details are instantly displayed within their Skrill account, with no need to wait for the solution to be physically delivered. Unlike a physical card, the virtual prepaid card remains constantly accessible until customers choose to lock or deactivate it, which can be done almost instantly.

“We’re strongly focused on evolving our product for U.S. consumers. The Skrill Virtual Visa Prepaid Card gives our customers all the benefits and access to eCommerce of a physical Visa card with all the speed and convenience of a solution that is 100% digital,” said Paul Jardon, CEO and CFO of Skrill USA.

The virtual version of the card incurs no transaction fees from the customers but offers a platform to earn points for each payment under the Skrill Knect loyalty program. Each dollar spent online using the virtual card earns a user one Knect point. Points are redeemable for cash above the 5,000 Knect-point threshold as well as other rewards.

The launch is part of the company’s latest move to strengthen its solution for American consumers. In March, the firm unveiled its cryptocurrency offering, allowing U.S. customers across 37 states and territories to buy and sell cryptocurrencies, after launching Skrill Money Transfer, a digital remittance solution, in 2020.