Paysafe launches Skrill Money Transfer service in U.S.

By Pavithra R

London based Paysafe, a provider of end-to-end payment solutions has announced the U.S. launch of its Skrill Money Transfer service. Existing and new Skrill customers in the United States can now use the solution to transfer money to friends and family for free in Mexico, India and 16 other Asian and European countries, with others available shortly.

The launch aims to facilitate financial support by offering Skrill Money Transfer benefits to immigrants and expats across the continental U.S. which includes Mexico and India, the top-two migrant countries to the U.S. as well as Pakistan, Bangladesh, Italy, the U.K., Spain, and France, among others.

Skrill enables free account creation, does not charge fees or any foreign exchange (FX) mark-up on senders to send money from the United States. To use Skrill Money Transfer, consumers can pay with their personal bank account (via instant ACH), or their debit or credit card, to fund transfers from their Skrill account. Money can be transferred directly to bank accounts overseas with no recipient fees to receive funds (to receive funds (recipients may incur charges from their financial institution to receive or withdraw funds).

“There has never been a more important time for remittance services, and we’re proud to bring Skrill Money Transfer to U.S. consumers, who send more money overseas to friends and family than anyone else in the world. New Americans and expats with connections overseas will now be able to send their loved ones much-needed help. Together we’re always stronger,” said Lorenzo Pellegrino, CEO of Skrill, NETELLER, and Income Access at Paysafe.

Amidst the COVID-19 situation, Americans are increasingly embracing alternative online payment methods. Paysafe’s April 2020 research reveals that after debit and credit cards, digital wallets like Skrill are U.S. consumers’ preferred online payment method, with 36% having used one in the last month.

Skrill has plans of extending its U.S. digital wallet including extending Skrill Money Transfer’s reach. U.S. immigrants and expats will soon be able to send funds via the solution to multiple additional countries in Latin America,Europe, Asia, and Africa.

Established since 1996, Paysafe provides specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through capabilities in payment processing, digital wallet, card issuing and online cash solutions. Recently Paysafecard strengthens its presence in South America with the launch in Paraguay.