Thursday, December 20th, 2018
This summer, UK-based digital payment services provider Paysafe jumped into the virtual currency world with a fiat-to-crypto exchange service. This service offers the option to buy or sell four of the biggest digital assets by market cap, with a wide range of fiat currencies – all via over 100 deposit methods.
The launch was shrouded in mystery. Paysafe’s subsidiary Skrill (which competes with PayPal but is more focused on sports betting and poker) made a strange announcement early on, promising to provide more information “soon”. Upon further investigation, the company’s website does state that this service is already available to new and existing Skrill users. This service allows them to buy and sell interests in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC) for US dollars, euros and 38 other fiat currencies.
As of now, Skrill Cryptocurrency Service is available in 36 countries, including: the UK, Canada, Australia, South Africa, the UAE, most European states and some Latin America countries (Brazil, Colombia and Mexico). Although, the company has hinted that expansion is a possibility, saying the list of countries “is subject to change”.
The Face Behind the New Crypto-Fiat Exchange Service
Skrill was first established in 2001. Headquartered in London, the company is owned by global payments processing company Paysafe. Just last year, Paysafe was acquired by a consortium of US private equity funds managed by Blackstone and CVC Capital Partners for £3 billion ($3.9 billion).
Thus far, the Skrill crypto exchange has set a fee of 1.5 percent for purchases and sales of crypto coins against the euro and dollars. For the remaining 38 fiat currencies supported, the charges jump to 3 percent.
In a comment on exchange rates, the company said, “Our rates are very competitive by comparison to the average market rates on the major cryptocurrency exchanges.”
Where to Find the Best Merchant Account Comparison
Trying to secure the best payment processing for your business and keep up with industry trends and new technology is a big challenge. Many merchants are unsure of where they can find the information they need to make the best decision. Best Payment Providers offers thorough industry updates and reviews to help you make an informed merchant account comparison.
Best Payment Providers has a long list of the top UK payment processing providers. Easily navigate the information and details to compare processors you feel may be right for your business’ needs. Most processors today offer applications that can be completed in just minutes. And account access is often offered in as little as 24 hours.
The key in merchant account comparison is to first find out what business types and industries the provider works with. Are they comfortable working with business types that are considered risky, since online businesses typically fall within this category? Do they offer round-the-clock support for your questions? You will also want to make sure they offer multiple payment processing options to your customers. In our world of ever-changing technology, keeping up with the latest changes and improvements is a must.
Topics discussed in this article:
- merchant account comparison
- UK Payments Specialist