Moneybookers to rebrand as Skrill – hopes to become a verb

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Moneybookers, the European PayPal alternative or “eWallet provider”, has announced that it is rebranding to Skrill.

The new name, which will take over as the consumer-facing brand by the end of 2011, is said to better capture the “ease and functionality of the company’s online payment suite”. Of course, the word skrill (short for skrilla) is already a commonly used slang word for money or “dough”, according to the infamous Urban Dictionary, which definitely makes more sense.

But there’s more.

Moneybookers Limited, which has been around for just under a decade, became the first e-money issuer to obtain an electronic money licence from the regulatory body the FSA and today claims over 15 million account holders and 70,000 merchants globally. While this year, Moneybookers was voted the UK’s fastest growing private-equity funded company by Deloitte and The Sunday Times. It’s apparently this “rapid growth” that has led Moneybookers to change its name.

Furthermore, Martin Ott, co-CEO of the new Skrill Holdings, appears to suggest that the company now wants to become a verb, something that Google and others have been determined to clamp down on for fear of risking their trademark.

“In the same way people ‘Google’ something or ‘Skype’ their friends, they can soon ‘Skrill’ their friends and family money and will use Skrill to pay whenever they shop online”, says Ott.

  • Kirsten Winkler

    Being German, Skrill does not sound trustworthy to me.

    First of all I can’t associate something with it and secondly even if I knew it is a slang word, I won’t trust my payments to a company that uses slang to describe their services. Very awkward decision.

    • PR

      in thats case Skrill suits them very much as skrill / moneybookers is a scam. They freeze your account and do not answer emails or phones for days /weeks. I have had my account frozen for about 6 weeks now and have not got through by phone once, they usually take about 8 days or more to answer an email. They sent me a form to fill in in word format , which i did, sent it back and then 8 days later then contact me to ask for it in pdf because they cannot read the format – it was returned in the format they sent it to me in – i quickly sent it. 10 days later they reply saying that they have it all ok and will be unlocking my account soon. Today – approx 8 days later they contact me with another form (different design but same info) saying they require me to fill it in because of a regulation change (it is the same info!) – they are just stalling. I have repied saying that I will be starting proceedings with te hfinancial ombudsman service in UK to get to get my money. These guys are criminals , and maybe that is why they are changing name because so many people have posted that moneybookers are a scam ripoff. Dont use them , they cannot be trusted.

  • Sebastian Hesse

    Im German as well but I dont mind the lacking association with my mother tongue. I actually like the name Skrill – lets see if they make it to the point where I get my salary skrilled :-)

    And isnt it all about function and usability at the end? Anyways, screw the name – i just want to make my payments safe and easy

  • K. Klein

    The name doesn’t actually matter, if the service is easy and useful. I use Moneybookers for years now and i will continue to use it, because it’s really great.

    But even if i don’t care what’s it called, i like the new name skrill and i don’t see why german-speaking people should have problems with it.

  • deibston

    The first time I read it I thought it was a terrible name. I still don’t think it’s very good but it seems like the more I read it the less terrible it becomes.

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  • Andrew

    Neteller = Oh like a bank “teller”, but on the net?
    PayPal = Oh so I can pay my pals with it?
    Skrill = What’s that? Some kind of fish?

    Pathetic. I’ve personally never heard anyone use “skrill” as slang for money, it’s like the CEO was on roofies and stumbled onto

    • Gee

      You missed the reference to right? It’s widely used in those circles. Listen to some rap records and you’ll know. That being said: baaaaad name.

      • dude

        payment companys are also rappers?

  • Jay Neiman

    Never ever heard of “Skrill” as a slang. It sounds like “Shill”, “Skull” and “Kill” all rolled into one. Bad choice for a name. In fact, I’d call it a terrible name.

  • Jifa

    As Chinese,it seems Skrill a little difficult to remember,moneybookers is more easy for us.
    Anyway, we care only about its service,right ?

  • case

    slang ? wtf ?
    are they all now best friends with hammer ?

    Shrizzle would have been a better choice…

    Skrill is like the dumbest name for a payment service – and yes it sounds like a fish.

  • Jay Neiman

    Rapper “Yo yo yo. I gotta get me some Skrill.”

    White Dude. “Here take this fishing net.”

    Rapper “No not krill… Skrill.”

    White Dude. “Maybe you can find an ointment to clear that up.”

    Rapper “No I mean Bling, Dough, Greenbacks – you know. Money.”

    White Dude “I don’t speak the freaky deaky Dutch. Why didn’t you say that in the first place you wanker?”

  • dude

    it’s like slang if you speak whale.

  • mike davis

    Oh dear…..a major company using NY urban slang and then not quite getting it right.
    The name is also commonly used in drug circles to describe good marijuana.
    Junk name…..Junk company. Were the brandiong guys high on weed?
    Think I will close my moneybookers account!

  • Deneil Merritt is a sad reference to get your information for this article. I am black and never have I ever said or heard “skrill” short for skrilla. Someone sat down and came up with a word hoping people will like it and its dumb! Easy to remember though.

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  • punk

    What you are all forgetting is how retarded is the current name of the company: MONEY BOOKERS !
    It’s embarasing to pronounce, it’s embarasing to recomend to other people. It’s on the same par with
    Compared to Moneybookers, Skrill is way better. Memorable and easy to pronnounce. It’s not perfect, the ending double L is bad for non-native speakers, and they don’t seem to own, also, the overt ghetto-reference is not what I want from an online bank (they shouldn’t have bragged about it in press releases, and let everyone guess). But it’s a huge improvement.

  • Mark, Dublin

    What a meaningless term.
    Sounds like either like a shrimp-like marine crustacean, a futuristic narcotic or a menacing set of alien marauders from a science fiction movie!
    “Oh no! The Skrill have come to invade Earth and are annihilating its inhabitants!”
    Give this bad idea a miss while you can and fire the idiot that came up with it.

  • Gaga Homie

    get me some skrill and chips today…pfff.

  • DennyG

    Sounds like something Captain Kirk would fight…

  • UpsetSkrillCustomer

    Since the change over from Moneybookers to Skrill they are overcharging for every transaction you make be it uploading or withdrawing. Even if you are performing a wire transfer which is suppose to be free, but NOT the case! You will be charged an undisclosed fee. BEWARE!!!

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