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June 28, 2019

Paysafe launches Rapid Transfer service in US with Skrill partnership

Paysafe Group has teamed up digital payments firm Skrill USA to make its Rapid Transfer online banking payments service available in the US.

Rapid Transfer service will be supported in the US through Skrill digital wallet.

It will enable US consumers to make instant payments to Skrill merchant clients without leaving the merchant’s website.

This is said to accelerate the payments process.

Moreover, consumers will be able to upload funds from their online bank account to their Skrill wallet.

Paysafe CEO of Rapid Transfer Lorenzo Pellegrino said: “Our Q4 2018 research reveals that only a fifth of smaller US online merchants (22%) offer direct bank transfer.

“This suggests there is significant space for Rapid Transfer’s growth in the US market, especially considering the product’s benefits for card not present merchants and their customers as well as its strong uptake across Europe.”

Rapid Transfer was launched in 2016. The service is already available in 18 European countries including the UK, Germany, France, Austria, Italy and Spain, Belgium and the Netherlands.

The service has also been rolled out to several Scandinavian, Baltic and eastern European regions.

Currently, more than 3,000 banks worldwide use the service.

In announcing the US foray of Rapid Transfer, Paysafe cited an internal report that found 30% of US consumers having concerns regarding ecommerce fraud.




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