Paysafe to bring Rapid Transfer service to US under partnership with Skrill
Paysafe Group announced an agreement to bring its Rapid Transfer online bank transfer service, which operates in 18 European countries, into the U.S., under a partnership with Miami-based Skrill USA Inc.
The partnership will allow American consumers doing business with a Skrill merchant to make instant payments without leaving the merchant site, according to a company release. Consumers will be able to make payments using ACH or wire transfer through the Skrill digital wallet.
Paysafe originally launched Rapid Transfer in 2016 in the U.K., Germany, France, Austria, Italy and Spain. The service later expanded into the Netherlands, Belgium and various markets in the Baltic, Eastern Europe and Scandinavian markets.
"Our Q4 2018 research shows that only a fifth of smaller U.S. merchants offer bank transfer," Lorenzo Pellegrino, CEO of Rapid Transfer at Paysafe, said the release. "This suggests there is a 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."