It is one of Paysafe's digital wallet brands and was established in 2001 to offer multiple online payment and money transfer services.

[16] As Skrill, they completed the acquisition of Austrian-based prepaid payment method paysafecard in February 2013,[17] before being acquired by CVC Capital Partners for €600 million in August 2013.

[19] In 2015, Skrill was acquired by Optimal Payments, the parent company of rival digital wallet NETELLER, for €1.1 billion.

[20] During this period, Skrill Group announced in April 2015 that it had completed the acquisition of Ukash, a UK-based competitor of paysafecard, which was merged during the same year.

[24] This was followed by the launch of Skrill's customer loyalty programme, KNECT, in November 2019[25] and the extension of the international money transfer service to US users in June 2020.

[29] In March 2021, Skrill announced a new partnership with the English Premier League football team Leeds United.