Moneybookers to be Skrilled Soon

Moneybookers, one of the best online payment systems gets an overhaul soon, or so they say. The service will be rebranded as Skrill, and will get some new features and payment facilities in the near future, which are not yet public unfortunately.

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CEOs of Skrill, Martin Ott and Nikolai Riesenkampff

The name 'Skrill'  originates from slang, and roughly means dollars, or money in general.  Of course it means much more for the company as they state it on their website: "For us it means a safe and innovative way for consumers to pay for their online goods. Skrill means flexibility. Skrill means choice. Skrill means reliability and peace of mind. Skrill makes you online safe". The company states the new name is necessary to better represent what they are and what they are to become, as well as differentiate them in the crowded marketplace. They also want to facilitate the use of the word as a verb, just like Google (to google something) managed to do. In a year, we might skrill our money to the poker rooms for example. As for me, I don't really understand how can "Skrill" describe what the company does better than "Moneybookers" did, or how "Skrill" is supposed to convey a "peace of mind", but they are the professionals.

The purpose of the eWallet is really straightforward and clear, it enables users to make online payments conveniently, securely and economically. Without revealing personal financial data, clients can send and receive money transfers using just an email address. Or in other words, skrill them.

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The change, because it's a big one, won't happen overnight according to the website [4], as it is a big change for the company, and even the industry itself, but it seems the rebranding will be completed by the end of 2011. Until then, users are not required to do anything, their current accounts will be upgraded to Skrill automatically. The company also encourages its guests to sign up now, they will receive the wonderful features of Skrill when they are available. If you still haven't registered, you still can at Skrill.com.

Two Plus Two reacted to the news really quickly, a user named 'guesswest' posted a newsletter from Moneybookers about the rebranding and commented on it as well, speculating that the company is pushing into the online retail business, and away from internet gambling. The general opinion though is that it's pretty pointless just giving the service a news logo and a name; Skrill must be much more convincing concerning their PR, 2+2 forum users don't see any other advantages to the hassle. The key features of Skrill are the following:

• Fully integrated worldwide banking network, provides more than 100 payment options, with 41 currencies covering 200 countries and territories.
• Sophisticated internal risk and fraud management.
• Transparent fee structure
• Multi-language website and customer service.
• First licensed e-money issuer in the UK authorised and regulated by the FSA.
• Cost-effective, offering competitive prices and unique proven benefits.

I'll be really interested in what kind of extra features Skrill has to offer in the future, this seems a bit weak for now.