Moneybookers is an e-commerce business that allows payments and money transfers to be made through the Internet. It serves as an electronic alternative to traditional paper methods such as cheques and money orders. Moneybookers performs payment processing for websites, online auction sites, and other corporate users. In 2011, Moneybookers announced that they would be rebranding their service as Skrill by the following year.
Moneybookers was bought by Investcorp Technology Partners for €105 Million in March 2007 and as of the 9 March 2009 has been put up for sale by its owners Investcorp for an estimated £365m.
Like many competing online fund transfer services (e.g., PayPal), Moneybookers requires identity verification before using their service to minimize fraud and prevent money laundering. Additional verification steps raise the maximum amount transferable to €50,000 or equivalent within a 90-day period. Moneybookers does not usually get involved in merchandise disputes and the availability of credit card chargebacks may be limited.
More than 100,000 merchants are registered with Moneybookers and its payments systems are integrated by global online brands such as Facebook, Skype and eBay. In February 2010, The Sunday Times Deloitte Buyout Track 100 League table ranked Moneybookers as the Number #1 fastest growing, private equity-backed firm in the UK based on profits.
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