In a move that has many customers scratching their heads, the e-wallet service Moneybookers has rebranded as Skrill.
Visitors to the popular online e-wallet found an interesting announcement on the company’s website upon arriving last week. Under a banner that stated, “We simply thought it was time,” Moneybookers opened up its announcement by indicating how things have changed in life, such as how books have migrated to e-readers and how no one uses a phone book anymore. Following these examples, Moneybookers announced the change of the company’s name to Skrill.
The new name has several definitions in certain slang dictionaries, but the common usage seems to be that it is a term for money. For the powers that be at Moneybookers, though, the new name Skrill will best describe what their e-business does. “For us it means a safe and innovative way for consumers to pay for their online goods,” the statement on the website explains. “Skrill means flexibility. Skrill means choice. Skrill means reliability and peace of mind. Skrill makes you online safe. Wouldn’t it be great paying for all your online purchases directly from your PC, your iPad, or smart phone? Wherever you are, whatever you do, soon you will… with Skrill.”
The full changeover will take some time, according to the website, and both moneybookers.com and skrill.com will direct users of the e-wallet to the same site. The company explains, “This is a big change for Moneybookers and, in fact, the whole industry, so it won’t happen overnight. But you can still sign up with Moneybookers now to be ready for the future. You’ll get all the usual fantastic benefits and be first in line to upgrade to Skrill when it goes live.”
An e-mail to customers of Moneybookers was posted by a member of the TwoPlusTwo forums. Poster “guesswest” put the e-mail into a thread that explains what current users of the e-wallet can expect over the immediate future. “ For now, it won’t affect you at all,” the e-mail explained. “You will not need to make any technical changes at the minute and your key contacts at Moneybookers will remain the same. At some point within the next nine to 12 months, we’ll be asking you to update gateways with a new logo, but we will be sure to contact you with lots of notice to make this as straightforward as possible.”
“guesswest” assumes that the changeover from Moneybookers to Skrill is a move to take the company further into the online retail business and away from internet gambling. At this time, Moneybookers is prominently featured as a preferred method of payment for several online bookmakers and poker rooms. A quick visit to such sites as Betfair and Ladbrokes shows the site’s logo prominently featured as a method of payment for their services. At the Moneybookers site, other options for usage, such as eBay, Skype, eToro, and several role playing games, are featured.
Moneybookers has a long history as an e-wallet, dating back to its creation in 2002. The company is registered and administrated through the Financial Services Authority in the United Kingdom, giving the company regulation through the financial laws of the U.K. The company’s main competitors are such sites as PayPal and Neteller.
Most recently, Moneybookers was in the news after ending a “business relationship” with the notorious WikiLeaks, the website that published thousands of secret U.S. government documents regarding the war in Iraq. The company formerly processed donations for WikiLeaks, but ended that association following increased scrutiny from the Australian and U.S. governments.
