Skrill (formally known as Moneybookers), one of Europe’s largest online payment service and digital providers, today announced to take over prepaid voucher provider paysafecard. The total consideration for the acquisition is up to €140 million – this makes it Skrill’s biggest acquisition to date.
Paysafecard was founded in 2000 in Austria and Germany and has established as one of leading provider for prepaid payment solutions in Europe. Paysafecard provides a prepaid electronic payment method for online purchases. The service is available in 31 countries worldwide and available at more than 450,000 outlets across Europe and America.
The combined group will have more than 27 million end-users and almost 130,000 merchant clients. Siegfried Heimgaertner, Skrill CEO, commented: “This acquisition will add significant scale to the Skrill Group in terms of payment volume, customers and merchants and will increase our overall market share. The combined entity will offer a unique proposition in the payments market combining our leading digital wallet with the sophisticated POS and cash network of paysafecard.”