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Rapid Transfer launches for Skrill and NETELLER customers in the Netherlands and Belgium

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Nov 01, 2018

Paysafe’s payment by online bank transfer solution now available in 15 markets

London: Paysafe, the global payments provider, has announced the expansion of its payment by online bank transfer solution, Rapid Transfer, into new markets including the Netherlands and Belgium. The latest country additions bring its total availability to 15 countries*.

The Netherlands provides a retail environment which is particularly suited to payment by bank transfer, which is already extremely popular in the country. According to the Dutch Payments Association’s annual report, in 2017, Dutch consumers made almost 202 million purchases on the internet, worth a total of 22.5 billion euros – representing 22% of all purchases and a 13% growth compared to 2016. In Belgium, according to Belgian commerce association BeCommerce, 17% of all spending in the first half of 2017 took place online (based on value). Online sales increased by 10% during the period, while the number of online shoppers grew by 2%. 

Rapid Transfer lets consumers shop or pay for services using their bank account credentials, without leaving the merchant’s website. Skrill and NETELLER customers can also upload money into their digital wallet using the service. Payments are authorised and made in seconds. Customers also benefit from the familiar security of their online banking and not being limited to using credit or debit cards or other alternative payment methods.

Merchants benefit from the instant settlement available through Rapid Transfer payments, high conversion rates and access to a larger potential customer base. Merchants can accept bank transfer transactions from over 3,000 financial institutions across Europe using Rapid Transfer.

For these reasons, among over 600 small retailers surveyed by Paysafe in September 2018 for its latest Lost in Transaction report, 52% of businesses in Germany, and 41% in both the UK and Austria, accept payment by bank transfer. Of those surveyed globally, 13% of businesses who do not accept payment by bank transfer already plan to do so within the next two years.

Rapid Transfer is also a service which is set to benefit from the developments in Open Banking in Europe, by leveraging the open APIs available from banks to enable coverage in more regions, as well as fast transactions with more seamless user experiences. 

Lorenzo Pellegrino, CEO of Skrill, NETELLER and Income Access, commented: “Rapid Transfer is driven by customer needs and designed to help retailers meet consumer demand. It offers a payments solution which is faster and more familiar, with less friction, and we’re excited to be extending its availability. The service is proving to be particularly popular in countries that have bypassed card payments because they haven’t taken off as readily. This includes cash-centred markets like Poland and the German-speaking DACH region.”

Rapid Transfer is also now available as a deposit option for both NETELLER and Skrill customers.  Paysafe plans to extend the service into other markets where its digital wallets services are available.

NOTES TO EDITORS

For more information about Rapid Transfer, please visit: https://www.skrill.com/en/business/rapid-transfer/

*Markets where Rapid Transfer is now available: Austria, Belgium, Denmark, Finland, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden and the UK. 

About Paysafe Group

Paysafe Group (Paysafe) is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions. 

With over 20 years of online payment experience, an annualized transactional volume of over US $80 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.

Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.

Visit us at www.paysafe.com.

For Media Inquiries:

 Anna Howard
Head of Corporate Communications, Europe and Asia 
T: +44 (0) 7585 967 772 / Anna.Howard@paysafe.com