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Stripe vs Skrill- A Comprehensive Guide for Business Merchants
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Please note that the information about the payment providers in this article was taken from their respective websites on 24 January 2025. This information is subject to change.
Stripe and Skrill are popular payment platforms catering to businesses worldwide with diverse features and integrations. But which one is better?
This guide provides a detailed comparison of Stripe and Skrill, focusing on payment methods, pricing, and integrations in the UK and Europe to help you decide which is better for your specific business needs.
Overview
Stripe company was founded in 2010 by John and Patrick Collison, Irish entrepreneur brothers, in Palo Alto, California. It is an Irish-American SaaS and multinational financial services company with dual headquarters presently located in Dublin, Ireland, and South San Francisco, United States. It is the largest private fintech company with a valuation of over $65 billion as of 2023, primarily focusing on in-person and online payment processing financial solutions for businesses of all sizes. Its business model revolves around simplifying payment infrastructure for developers, enterprises, and startups.
Skrill was founded in 2001 as a digital wallet payment provider in the United Kingdom. It was then known as Moneybookers. Skrill is popular among gamers, online gamblers, and cryptocurrency users due to its ability to hold funds in multiple currencies and ease of use for transferring money internationally. The global payments platform Paysafe Limited acquired it in 2015.
Supported Markets and Customer Base
Stripe Supported Countries
- Stripe is supported in 46 countries, including the United States, Canada, and many European countries, such as the United Kingdom, France, Germany, and others.
- It enables customers to charge in their native currencies and receive funds in over 135 currencies. Additionally, it offers payment links and Stripe Checkout in 34 languages.
- It serves a wide array of industries, from e-commerce platforms such as Wayfair and hims to enterprises, startups, SaaS, and retail.
Skrill Supported Regions
- Skrill operates in more than 100 countries and supports global fund transfers in over 40 currencies.
- It provides support in 20 different languages, such as English, German, Spanish, and others, thus catering to a diverse set of global audiences.
- It focuses on regular e-commerce and retail segments, besides high-risk industries such as gaming, forex trading, and gambling.
Features
Supported Payment Methods
| Stripe | Skrill | |
| Debit and Credit Cards | Visa, Mastercard, American Express, JCB, Discover, Diners Club, and more globally. | Visa, Mastercard, and Maestro globally. |
| Digital Wallets | Apple Pay, Google Pay, Alipay, WeChat Pay, Revolut Pay for UK and EEA customers, and more. | Skrill Wallet, PaysafeCard, and Neteller Wallet globally. |
| BNPL | Integrates with Afterpay, Affirm, Klarna, and other BNPL providers. For UK customers - Clearpay and Klarna. | No direct BNPL integrations. |
| Bank Transfer/Direct Debit | ACH, SEPA, Bacs, BECS, and other bank transfers globally. | Various local and international bank transfers like iDEAL in the Netherlands and BACS in the UK. |
| Bank Redirect/Pay-by-Bank | In select regions like iDEAL (Netherlands), Bancontact (Belgium), TrueLayer for UK Customers, and others. Pay-by-Bank- Currently available only for UK customers, to be launched in Germany in 2025. | Skrill Rapid Transfer enables instant bank payments in supported countries. |
| Cash-based vouchers | Cash-based methods in specific regions like OXXO (Mexico) and Boleto (Brazil). | Paysafecash enables customers to pay with cash by generating a bar code and completing the payment at the participating location. |
| Cryptocurrencies | Supports crypto payments via third-party integrations, enabling merchants to accept Bitcoin and others. | Provides a built-in cryptocurrency service that allows users to buy, hold, and sell cryptos directly within their Skrill account. |
Recurring billing and Subscription Management
Stripe offers robust tools for subscription management and recurring billing through its Stripe Billing Product. Its components enable flexible subscription models, including Usage-based billing and Tiered pricing.
Skrill enables recurring and subscription payments via its Automated Payments Interface (API), allowing businesses to process scheduled and repeat transactions efficiently. Additionally, the Skrill 1-Tap feature allows users with Skrill accounts to make one-click purchases without repeatedly entering the payment details for fast and seamless processing.
Additional Unique Features
Stripe offers various unique features for merchants and businesses, such as:
- Stripe Terminal allows businesses to accept in-person payments through POS systems.
- Stripe Checkout, pre-built UI component acting as a payment gateway that merchants can integrate via APIs into their online stores.
- Strip Radar, powered by machine learning, offers fraud detection and prevention, thereby facilitating the automatic blocking of high-risk payments.
- Stripe Connect, designed for e-commerce platforms and marketplaces, enables multi-party payments and payouts.
- Stripe Atlas helps entrepreneurs incorporate a company in the US and access banking services.
So, how does Skrill work? Skrill, on the other hand, focuses on providing fast, secure, and best payment solutions tailored to forex trading, online gaming, and international money transfers. It is ideal for crypto-savvy users seeking an all-in-one wallet.
- Skrill Prepaid Mastercard is linked to users’ Skrill accounts and is usable at ATMs and for in-store and online purchases worldwide. It offers multi-currency support for travel users.
- Skrill Quick Checkout is a payment gateway solution designed to streamline payments for customers and merchants.
Security & Compliance
Both Stripe and Skrill emphasise security and compliance to ensure safe transactions and regulatory adherence in their operations.
Stripe is fully PCI-DSS Level 1 compliant and uses tokenisation to protect sensitive payment details. It supports 3D Secure 2 for enhanced transaction authentication, and its fraud detection system, Stripe Radar, leverages machine learning to identify and block fraudulent transactions in real time. Stripe is registered in Ireland and the United States and operates globally under multiple regulatory licenses. It complies with the EU’s Payment Services Directives (PSD2) and other local regulations in its operational markets.
Skrill also meets the PCI-DSS Level compliance standards, ensuring the secure handling of payment data. It employs tokenisation to safeguard sensitive information and integrates with 3D Secure for additional transaction security. Skrill is registered in London, UK, and licensed as an Authorized Electronic Money Institution by the UK FCA. Additionally, it holds licenses to operate in the EU and other regions.
Integration
Stripe offers ready-made plugins for popular e-commerce platforms, such as WooCommerce, Shopify, Magento, PrestaShop, BigCommerce, Squarespace, Wix, and others. It also offers a robust API and SDKs that support multiple programming languages, such as Python and Ruby, for highly customisable payment solutions.
Stripe Elements, a pre-built UI component library for seamless integration, and webhooks for automating workflows are also available. They integrate with popular business tools such as QuickBooks, Xero, Zapier, and CRMs like Salesforce and support workflow automation. The Stripe App Marketplace features 272 apps from 252 ISVs, encompassing a wide range of functionalities.
Skrill provides plugins for 22 platforms, including Magento, WooCommerce, Shopify, and PrestaShop, but its offerings are fewer than those of Stripe. It also provides APIs for integration, such as the Automated Payments Interface (API) for handling payments and the Merchant Query Interface (MQI) for transaction reporting. However, its third-party integrations, such as accounting and CRM systems, are not explicitly mentioned on its website and lack the broad ecosystem of Stripe.
Merchant Dashboard Usability
Stripe offers an intuitive, feature-rich dashboard with detailed reporting, customer analytics and real-time transaction insights. Skrill, on the other hand, features a straightforward merchant dashboard with essential tools for transaction tracking and reporting but less advanced analytics compared to Stripe.
Pricing
Stripe is best suited for businesses seeking transparent pricing and handling high volumes of international transactions. Skrill, on the other hand, is popular for its multi-currency wallet but has higher fees for currency conversion and international payments.
Stripe vs Skrill Fees and Charges
| Feature | Stripe Costs | Skrill Costs |
| Setup Costs | No setup fee | No setup fee |
| Monthly Fees | No monthly fee | No monthly fee and a $10 annual fee for a physical or virtual card. |
| Transaction Fees | UK Cards: 1.5% + £0.20 for standard UK Cards and 1.9% + £0.20 for premium UK Cards. EEA Cards: 2.5% + £0.20 per transaction + 2% if currency conversion is required. Non-EEA Cards: 3.25% + £0.20 per transaction + 2% if currency conversion is required. | Global credit /debit Cards- 1%. Rapid Transfer- 1%. Paysafecash- 2.5%. PaysafeCard- 5%. |
| Chargebacks/Currency conversions | Currency Conversion: 2% Chargebacks: £20 per dispute. | Currency Conversion: 3.99% above the reference exchange rate. Inactivity Fee: €5 per month after 6 months of inactivity. Chargebacks: £25 per dispute. |
| Other Fees | In-Person Payments- EEA Cards- 1.4%+10p Non-EEA Cards- 2.9%+10p +10p per Tap to Pay authorisation Stripe link one-click checkout- 1.2% +20p for UK cards Bacs Direct Debit- 1% ( 20p up to £4. Instant payouts- 1% of volume, minimum 40p. Invoicing & Billing - 0.4% per paid invoice and for billing- 0.7% of billing volume or £450 per month, 1-year contract. Multi-currency settlement- 1% of payout volume or a minimum fee. | International transfer in the same currency- up to 4.99%. |
Settlement Times- Skrill vs Stripe
In the UK, Europe, Mexico, and Canada, Stripe usually processes payouts on a T+3 schedule after the transaction date. However, it also offers flexible payout schedules, such as daily, weekly, or monthly, based on the merchant’s preference. Instant payouts are also available in countries like the US, Canada, Singapore, the UK, Australia, and the EU on any day or time, including holidays and weekends.
Skrill settlement times depend on the withdrawal method. Withdrawals to the Skrill Prepaid Mastercard® can be processed instantly and assessed at ATMs worldwide. However, bank transfers take 1 to 5 business days.
Skrill vs Stripe Customer Support
Stripe offers 24/7 customer support through email and live chat, an extensive Help Centre, and developer support via Discord. Paid support plans include dedicated account management and real-time API health updates. While praised for its robust tools, a Trustpilot rating of 2.2 reveals users expressing concerns about delayed responses and account holds.
Skrill customer service provides 24/7 support through live chat and email, supported by a comprehensive Help Centre. To ensure tailored assistance, the personalised account management service is available to Skrill VIP Gold members or above. Its Trustpilot rating of 2.5 reveals that while some users appreciate the availability and quality of support, others report long wait times and unhelpful responses.
Stripe vs Skrill- Is Skrill Better than Stripe?
Stripe is ideal for businesses seeking robust API integrations, advanced developer tools, and comprehensive global payment support. Skrill, on the other hand, stands out for its multi-currency wallet, ease of use, and suitability for forex trading, cryptocurrency, and gaming enthusiasts. While Stripe offers broader integrations and scalability, Skrill’s focus on specific niches makes it appealing for targeted use cases.
Skrill and Stripe Alternatives
If you are seeking an innovative and efficient alternative online payment solution, Noda's open-banking payment platform offers a game-changing alternative with its Pay-by-bank technology. Unlike traditional card-based processing, Noda enables direct bank-to-bank transactions, eliminating intermediaries, reducing fees, and preventing chargebacks. Operating across 2,000+ banks in 28 countries, including the UK, EU, Canada, and Brazil, Noda achieves a remarkable 94% payment acceptance rate with its user-friendly payment integration.
Noda, one of the best online payment platforms, stands out with unique features like “Noda Buffett,” which customises payment options for local banks, LTV prediction to identify high-value users and identity verification without documents. With seamless ease of integration via APIs and plugins for platforms like WooCommerce and Magento, advanced analytics, and personalised account management, Noda is ideal for e-commerce, gaming, travel, SaaS and other industries.
