Skrill, one of Europe’s largest online payments providers, operating under the Moneybookers brand, has just announced having completed the acquisition of payolution, the Vienna-based payment startup (Update – January 2023: The startup seems to be no longer in business under this name and we therefore deactivated the link).
Skrill has acquired 100% of the share capital of payolution for an undisclosed sum. payolution lauched its service just four months ago and acts as a payment facilitator between merchants and financial institutions. The young startup also provides technical and operational services such as risk checks on behalf of its banking customers.
Nikolai Riesenkampff, Skrill’s Co-CEO, stated in relation to the transaction: “By adding payolution’s products to our already comprehensive payment and security systems we are once again able to differentiate our offering to merchants and enable them to generate even more efficiencies from our service.”
Skrill is headquartered in London and was founded in 2002 under the name Moneybookers. In November 2010, the European Paypal alternative announced that it will rebrand as Skrill by the end of 2011.
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