Until recently we only had the banks' own transfer systems to make international transfers with, and fees for transferring around 10 euros would be higher than the amount sent. With online payments things stated to change and the monopoly of a few banks was broken.
There's a large and growing number of payment options available online now, so why are we using skrill.com instead of one of the others? Our research found Skrill to be the most suited to our needs at the moment. We're constantly keeping an eye on the competition though, and on the new and emerging money transfer systems.
- Low fees
- Among the least complex to join and use
- Has a presence in more countries than most
Additionally, the recipients in our pilot project don't need to open a bank account and can manage their accounts completely using only a mobile phone−no need for a computer. This is due to a new initiative, currently only in Kenya, to enable mobile payments using the phone company's own system. This should roll out worldwide eventually.