Skrill USA has unveiled the Skrill Visa Prepaid Card for customers of its digital wallet brand. 

The launch means that US customers can now get free access to a Visa prepaid card to use their Skrill account balance for in-store and online purchases as well as cash withdrawal.

Lorenzo Pellegrino, Chief Commercial Officer at Skrill USA, Inc., commented: “Financial innovation is at the heart of everything we do at Skrill. The new Skrill Visa Prepaid Card is a cutting-edge addition to the Skrill digital wallet, empowering consumers by giving them access to more ways to pay – whether they’re in a store or online, or shopping in their hometown or overseas – and allowing them to better control how and when they pay.”  

With Visa accepted at over 11 million merchants across the United States, Skrill USA’s new Visa Prepaid Card, which is issued by the New York-headquartered  Community Federal Savings Bank (CFSB), is a comprehensive solution for both card-present and online transactions. 

Through a simple application process taking just minutes and with no fees involved, existing and new Skrill digital wallet customers in the US can receive their Skrill Visa Prepaid Card within five to 10 business days. 

Cards can be activated instantly, and customers get access to funds from their Skrill digital wallet in real-time when a purchase is made. A highly convenient way for consumers to use their digital wallet account balance to make small, everyday purchases such as groceries or to pay bills at utility websites, the Skrill Visa Prepaid Card can be used either in-store or online with no additional fees.

Skrill customers are only able to use the prepaid card to spend the balance of their digital wallet account. As a result, the product provides consumers with limited incomes such as students with increased control over their finances in a way that is not supported by traditional debit and credit cards. The Skrill Visa Prepaid Card is also the perfect solution for consumers with lower access to mainstream financial products.

Americans preferring, or needing (through merchant restrictions), to use the traditional payment method of cash can use the card for ATM withdrawals without incurring a fee from Skrill (ATM networks may charge fees). 

Expert Analysis: The launch builds on the exponential growth of payment card innovations, the versatility of the card means it is a key asset for consumers as they seek to improve their financial efficiency.