Online payment systems and software are commonplace in today’s digital world. It is safer and more convenient than traditional payment systems.
If you are looking for a Payment Gateway product that will work well for your business, it is important to look at a wide range of options and take the time to do so. It doesn’t need to be complicated and it can be as simple as matching their attributes. You can also get a quick overview of the product’s workings.
Skrill and PayPal are the big two in this category of online payments and transactions. Bitcoin, on the other hand, is an insignificant player and is barely visible to most marketers.
PayPal Vs. Skrill
Skrill and PayPal differ in that PayPal doesn’t expose financial information to merchants directly, while Skrill does. Skrill’s data is not as secure as PayPal’s.
PayPal is more expensive than Skrill. However, PayPal also has its issues. PayPal’s safety is comparable to Skrill’s, but Skrill is more affordable. However, safety is a concern.
PayPal is in every way more popular than Skrill.
PayPal came into existence in 1999, two years before Skrill (1999, 2001), but its market dominance is still significant.
PayPal is the best option for all transactions.
The online gambling market isn’t too fond of PayPal. There are only a few online casinos that accept PayPal, compared to other industries.
Skrill, despite its inferiority, is accepted by a greater percentage of online casinos than PayPal. Skrill is more popular than PayPal at online casinos that accept electronic payments.
Skrill is the preferred payment method for online casinos over PayPal.
Everything is dependent on which currency you use. Paypal allows you to withdraw and deposit money in 25 currencies, while Skrill allows you to send and receive money in 41 currencies.
Skrill is better than PayPal for payment services.
Skrill offers four currency accounts that you can add to your Skrill account. You can store your money in the currency you prefer without worrying about currency exchange rates.
PayPal has two accounts, one for personal and one for business. This is a significant difference to Skrill.
Online casinos prefer Skrill to make casino games accessible to players from different countries. Skrill payments are better if you’re from a country that has its own currency.
It is easy and free to register on Skrill or PayPal.
Simply enter your details and click the button to proceed. These details can be personal or banking information.
After you register, you will need to verify your account. Each service has a different verification process, but they all have the same goal: to verify your identity as well as connect your bank information.
To get your account verified with Skrill, it will take 24 hours, while PayPal can take up to only two.
What’s PayPal?
PayPal makes it easy and quick to send money online. You can send money abroad to family members, friends, online shops, auction sites, and other people.
You only need the email address of the recipient to send money to relatives or friends. By registering your bank account or credit card with your PayPal account, you can send payments via the Send and Request Money feature. The beneficiary will receive the amount and it can be used to transfer money to their bank account.
Largest eWallet provider: With the acquisition of eBay, PayPal has been the largest and most established e-wallet provider online. So, retailers are willing to pay higher fees and accept PayPal as their payment method in order to meet as many customers as possible.
Safety: PayPal, a Luxembourg-based bank with official bank status, is a very stable and secure provider of electronic wallets. This makes PayPal a popular choice for consumers as it doesn’t disclose financial information to retailers.
What’s Skrill?
Skrill, formerly Moneybookers, is a digital wallet provider. It makes and stores money online for various money transfer and payment services. Any internet user above the age of 18 can access it by providing an email address. You can make transactions of all types for very low or even free charges. You can get most of their services free of charge by signing up and making purchases at least once per year.
Skrill is a popular online gambling site that offers money transfer services such as Bitcoin and Skrill.
Customer Support: This platform offers high levels of customer support compared to other online money transfer platforms and has an extremely high customer satisfaction score.
Difference between PayPal and Skrill
- PayPal supports nearly all languages, while Skrill supports only 7 of the major European languages.
- PayPal offers only 20 currencies, which is far less than Skrill. Skrill offers its products and transactions in 40 currencies around the globe.
- You must deposit a small amount into PayPal to verify your account. In Skrill, you need to withdraw a small sum from your account.
- It takes PayPal almost two days for verification, whereas Skrill takes just one day.
- PayPal charges users to receive money, while Skrill charges for sending money.
- Most online gambling sites do not offer PayPal, but Skrill (Moneybookers), is the first choice.
- MasterCard Debit Cards are only available to US customers for PayPal, but they are available to everyone using Skrill.
- PayPal charges a merchant transaction fee of 4.5% (fixed sum), whereas Skrill charges 2.99% (fixed sum).
- PayPal’s customer service isn’t very good. It is very inactive. Skrill’s customer support team is far better than PayPal.
Conclusion
This analysis allows you to identify the strengths and weaknesses of each software and help you decide which one is best for your needs. The best product, besides its key features, is the one that is intuitive and simple.
Skrill’s overall score is 9.0, compared to the score of 9.5 in PayPal Payments Pro. The huge advantage Skrill (Moneybookers), has over PayPal in terms of their payments is obvious. PayPal, on the other hand, is the clear winner if safety is taken into consideration. PayPal is safer because of its protection and verification strategy.
Skrill is still not as good as PayPal. Skrill is a good option if you are looking for a decent service at an affordable price. However, security must be sacrificed.