Using Open Banking for international business payments
Given strong consumer demand, Skrill will continue to expand its U.S. digital wallet going forward, including extending Skrill Money Transfer’s reach. U.S. immigrants and expats will soon be able to send funds via the solution to multiple additional countries in Latin America, Asia, Europe and Africa.
What's the Open Banking use case?
To use Skrill Money Transfer, which was first launched in Europe in October 2018 for transfers to over 40 countries globally, U.S. consumers simply pay with their personal bank account (via Open Banking), or their debit or credit card, to fund transfers from their Skrill account.
Money can be transferred directly to bank accounts overseas, and the recipients are also not charged a fee by Skrill to receive funds (recipients may incur fees from their financial institution to receive or withdraw funds).
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