About Skrill Acquisition of Ukash

08 Jan, 2015 - 16:11 by nancyluong

The news can be lead to another level of Skrill. One of the most prominent online payment service providers had announced that it will be conducting Ukash acquisition. Ukash is one of the most popular prepaid voucher services in the world. People are wondering what will happen when the Skrill acquisition complete. 

Once the process is proceeded, Skrill expects to enhance the visibility in the cash voucher segmented market, which it entered into after successfully obtaining Paysafecard in 2013 for 140 million euros. Though it requires some times for the acquisition, the process would be completed when both companies fulfill the government requirements. 

Skrill Objectives

By conducting the acquisition, Skrill hopes to target wider consumers around the world. That is the important role of Paysafecard and Ukash to spread its wings. With the increasing number of online casino players in that opt to prepaid cash vouchers to deposit their money, this is a good path that is determined by Skrill to grow its business. In the other side, this performs more benefits for players who want to deposit their money to their favorite sites without any hassle. 

The CEO at Skrill, David Sear, stated his hope about the Skrill development in voucher market segment. He hoped that by the acquisition the company can rapidly grow even bigger. Quoted from his saying:

“The acquisition of Ukash will significantly extend our reach in the high-growth pre-payment market. We are proud to support both consumers and online businesses with the world’s largest online cash replacement payment method and look forward to serving a combined base of millions of consumers around the world.”

That does make sense. With the significant number of players growing in the world, it is a big chance for Skrill to boost their credibility. When the acquisition is finished, many players would rather to use Skrill than other online payment methods. 

Udo Muller as the CEO of Paysafecard also stated almost the similar thing. The acquisition of Ukash will increase the Paysafecard’s global visibility and will open wider opportunities for both parties in growing their business. 

The CEO of Ukash, David Hunter is also energized with the idea of acquisition. He stated that by joining Skrill Group, Ukash would appear with paysafecard to serve the payment innovation and gave customers’ choice and convenience when doing the transaction online. 

For those who don’t know yet, Skrill was formerly known as Moneybookers. It is one of the giant online payment services in the world. Amongst the other payment methods, people turn to use this as the most secure payment. It has more than 36 million users from around the world and provides services for about 40 different currencies. It has been one of the most reliable payment methods for decades which is enough reason why people choose this to conduct transaction online.