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Paysafe Group Holdings Ltd. said Thursday it is launching in the U.S. market a digital version of its Visa-branded Skrill prepaid card. A Web version is available now, while an app that works with Paysafe’s Skrill wallet coming later this year.
As with physical version of the card, the virtual card, issued by New York City-based Community Federal Savings Bank, enables U.S. holders to spend funds stored in their Skrill wallet. Paysafe says the “majority” of U.S. and international e-commerce sites now accept Visa cards. Community Federal began offering the physical version in January last year.
The virtual version also allows users to earn rewards points in the Skrill Knect loyalty program, with a one-to-one correspondence between dollars spent and points. Once holders reach 5,000 points, they may redeem them for cash.
The new Web and app versions come as London-based Paysafe concentrates on the U.S. market with new features, including cryptocurrency. Skrill USA in March began allowing U.S. users in 37 states and territories to buy and sell digital currencies. And last year the company unveiled Skrill Money Transfer, a remittance service. “We’re strongly focused on evolving our product for U.S. consumers,” said Paul Jardon, chief executive and chief financial officer of Skrill USA, in a statement.
The new product arrives as Paysafe last week reported $4.6 billion in first-quarter payments volume in its Digital Wallet unit globally, down 25% year-over-year.
Also on Thursday, payments provider Nuvei Corp. said a subsidiary has won approval from the Michigan Gaming Control Board to offer processing to licensed and regulated operators of online sports betting in that state. Michigan in January legalized wagering online on sports.
The latest development brings to 10 the number of states where Montreal-based Nuvei has gained approval to process sports wagers. Most recently, the company said in March its subsidiary had been granted a sports-betting vendor registration by the Virginia Lottery. At the time, 21 states had legalized sports betting in one form or another.
Sports betting took off after a 6-3 U.S. Supreme Court ruling in 2018 left the decision to permit the activity up to the states. At the time, only four states, including Nevada, permitted the activity.
