What is Skrill Moneybookers? A Possible Alternative to PayPal

What is Skrill Moneybookers? First of all, it used to be Moneybookers before 2011, but since then it’s been renamed to Skrill. But essentially, these two words mean the same thing.

"Basically, Moneybookers (now Skrill) is an international online payment provider, claiming to be the largest one in Europe. They say they have over 31 million account holders and more than 135,000 merchants, including global brands like eBay, Skype or Thomas Cook."

Also, they offer a secure and easy worldwide banking network with more than 80 local payment options in over 200 countries and 41 different currencies.


What is Skrill Moneybookers and Why Use Them To Sell Your Products or Services?

While most people prefer to use PayPal for buying and selling stuff online without giving away their credit card numbers, Skrill may be a nice alternative.

For example,

  • PayPal’s transaction fees are pretty high
  • they have tedious dispute policies
  • and they aren’t even available in many countries.

On the other hand, here are some benefits to using Moneybookers.

  • Significantly lower than PayPal transaction fees and a clear, transparent fee structure.
  • More than 80 payment options in 200 countries worldwide
  • Unlike PayPal, Skrill is available in all the countries of the world, expect for Afghanistan, North Korea, Nigeria, Cube, Myanmar, Sudan and Iran
  • Cutting-edge technology for providing security for both buyers and sellers (including fraud and loss protection)
  • Full chargeback protection for merchants. (Skrill will cover any chargebacks that may occur, so that you don’t have to. This is a HUGE advantage over PayPal).
  • A user-friendly website with lots of helpful tutorials and explanations
  • The ability to integrate with the largest and most popular online store providers such as Shopify, Magento, ePages and so on. They also offer easy-to-follow integration manuals for each of these services.
  • Ability to choose between various payment options to find the one that exactly fits your needs: eWallet, Merchant Gateway, Quick Checkout, Recurring Billing, Pay-on-Demand


What is Skrill Moneybookers – Payment Option

eWallet/Digital Wallet/Email Pay

You may be family with how this payment method works from PayPal. Basically, customers can pay without having to enter their secure financial information such as credit card numbers, by simply entering their Moneybookers account information (email and password).

Here’s how it works:

  1. You let the customer know that he/she can pay via Skrill
  2. You give the email address for which she/he should transfer the funds (your Moneybookers email address)
  3. Once you received the payment to your Moneybookers account, you manually give the customer what he/she ordered

The advantages of this payment method are obvious: it’s easy and the transaction fees are lower than PayPal’s.

However, the downside is that

  • your customer needs to have a Skrill account or register one in order to pay this way
  • and you have to process your orders manually.

With that said, you can learn more about this type of payment here.


Merchant Gateway

This is very similar to PayPal’s shopping cart and Buy Now button functionality.

  • modify the HTML code on this page according to the instructions (set your Skrill email address, language, price, currency and so on).
  • and integrate (copy and paste) the code on your webpage.

You can see a real-life example of how it works here.

 

Advantages of Moneybookers Merchant Gateway

  • Low transaction fees
  • instant payments via credit and debit card, bank transfer or eWallet
  • automatic payment processing
  • no need to manually handle the transaction since after paying - your customers - will be automatically redirected to your website where they can download your digital products.

One small caveat is that you should read through this quite lengthy PDF manual to make sure you install the code on your site properly.

And again, another con is that your customers will still

However, the next payment option offers a solution to this problem as well:


Moneybookers Quick Checkout / Direct Payment Processing

This payment option basically offers a simple credit card processing terminal that you can set up on your site without having to apply for an official merchant account or do anything like that.

In other words, it lets you customers pay via their credit or debit cards even without having to have their own Moneybookers accounts.

If you’d like to use this payment format, shoot an email to merchantservices {at} moneybookers.com or visit this page for more details.

The advantage of this option is clear.

It will increase your Conversion Rates as you capture buyers who do not want to open an account with Moneybookers. The only “problem” is that you’ll obviously have to pay a small transaction fee to Moneybookers for using this feature.


What is Skrill Moneybookers? Conclusion

  • If you like PayPal
  • haven’t got your account terminated (yet!)
  • and are satisfied with it

...you don’t need to change to Skrill.

However, offering as many payment methods as possible is always a good idea, so you may go ahead and register for a Moneybookers account anyway.

Also, if you’re looking for ways to replace PayPal, Skrill may be a good alternative.


Moneybookers VS. PayPal

If you’re not sure which provider you should choose (again, I recommend both of them), here are a few questions to ask yourself:

1, How important it is to you to have the most reputable online payment processor handling your transactions? If it’s very important, I suggest you use PayPal since it’s still more popular than Skrill (although this may change over the future).

2, How HTML- or programming-savvy are you? Setting up a PayPal Buy Not Button or Shopping Cart is very easy as you could see in these articles. Skrill’s payment gateway solutions require a slightly higher HTML and technological knowledge. However, their manuals will take you through the process step-by-step, in easy to understand language, so no need to worry either way.

3, How important are low-transaction fees? If this is your most important priority, choose Moneybookers which beats PayPal without a doubt.

And congratulations! Now you know enough about what is Skrill (Moneybookers) to be able to decide for yourself.

If you have any more questions, feel free to contact me right away. I’m always happy to help all of my readers.

In the meantime...

Sign up for a FREE Moneybookers/Skrill account today!


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