Moneybookers' holding company is Gatcombe Park Ventures LTD and it is
registered as a Money Service Business with HM Revenue and Customs in the UK.
Moneybookers is also regulated by the British Financial Services Authority,
ans is used broadly by many industries other than gambling.
Moneybookers is an e-commerce infrastructure geared towards making secure and
rapid financial transactions via the internet. Moneybookers was launched in
2001, and in basic terms, serves as a transaction mechanism for online merchants
and clients. It currently accepts and holds funds in over 29 worldwide
currencies, across 30 different countries. To date, Moneybookers hosts over 7
million accounts and is provider to over 12 000 merchants.
Moneybookers is a real-time web based trading mechanism that allows consumers
to securely send and receive payments online through the simple use of an e-mail
address. As an e-wallet solution, Moneybookers allows consumers to deposit and
withdraw funds by using a user name and password without having to issue
personal or financial information, thereby ensuring no unauthorised or
fraudulent debits from their account. Security is further addressed through the
use of Secure Socket Layer (SSL) technology with high security 128bit
encryption.
Key elements to using Moneybookers, is accessibility and convenience.
Consumers can register their own account for free by logging on to
www.moneybookers.com, and filling out the e-form on the "getting Started"
section. Here they can choose from language and currency options, but consumers
should take care in considering transfer tariffs for currencies outside of their
geographical location. Once a Moneybookers account has been created, consumers
can fund their accounts using credit cards, debit cards and wire transfers.
Transfers into a Moneybookers account are not billed, but credit and debit card
payments are charged a fee of 1% (up to €50).
Once the account has been credited (approximately 2 to 4 days), payments to
online gaming sites and vendors is immediate. Withdrawals from Moneybookers
takes anything from 3 to 7 days, and there is usually quite a stringent
verification process to ensure the authenticity of the account holder.
Additional features in using Moneybookers, is the ability to transfer funds
from one Moneybookers account to another, and the capacity to set up a recurring
payment facility. Most recently, the company has launched a global messaging
solution with Clickatell, offering mobile SMS alerts on transactions made.
