Many service providers, retailers and online casinos allow you to pay and top up your account with both Skrill and PayPal; at least if it is an online casino that is officially licensed in Europe. Both payment methods have their own special features and advantages. In our comparison, we examine the differences and similarities so that you can better decide which service best suits your needs.
What Is Skrill?
The well-known payment service provider Skrill was founded in 2001 and is a widely used e-wallet that is used for online payments in many areas. With it, you can deposit money into your account in various ways, e.g. through bank transfers, credit and debit cards, Wise (good for foreign currencies) or via Klarna, which also enables instant transfers.
Your payment details are stored securely with Skrill, so you do not have to provide any bank or credit card details when depositing at online casinos, like in casinoways, but simply log in with your Skrill account.
The provider allows you to send and receive money worldwide and it is very easy to make deposits and withdrawals in online casinos or online shops.
Registration and verification are straightforward and the service is generally very user-friendly. The wide acceptance makes Skrill a popular choice for online payments.
What Is PayPal?
PayPal was founded in 1998 and has developed into one of the best-known online payment services in the world.
Unlike Skrill, PayPal is not only an e-wallet, but also an online payment platform that allows you to send payments directly from your bank account, credit card or PayPal balance. You can also easily add PayPal as a payment method in Google Wallet or Apple Pay and use it to pay practically anywhere – not just online.
PayPal is a fast and secure way to make online payments in an online casino. You can access your balance immediately and we are proud to be able to offer you this payment method, as not every online casino can offer PayPal. Only officially licensed casinos can offer the payment service in Europe. Thanks to the buyer protection and high security standards as well as the excellent support, you benefit from many advantages when you use PayPal at online casinos.
Skrill Vs PayPal: These Are the Differences
Both payment services have their own unique features and uses. We have examined the differences between Skrill and PayPal in detail to give you an informed basis for your decision. Here are the key points to consider:
Type of Payment Processing
Skrill is an e-wallet. This means it acts as a virtual wallet where you can keep your money safe. Deposits and withdrawals are processed through your Skrill account. You can add money to your wallet using various methods such as bank transfers, credit and debit cards.
Once the money is in your virtual wallet, you can use it to make online payments or transfer it to your bank account or credit card. This process provides an additional layer of security as you do not have to share your banking details directly with online merchants.
PayPal, on the other hand, is an online payment platform that is directly linked to your bank account or credit card. When you pay with PayPal, the amount is debited directly from your linked account or credit card. However, just like with an e-wallet, you can transfer funds to your PayPal account and use them for payments. Since the provider has a European banking license, it is more than just an e-wallet. When it comes to payments, however, the method is very similar. Here, too, amounts are credited immediately.
Deposits & withdrawals
Skrill allows you to make both deposits and withdrawals. Deposits are credited to your Skrill wallet and can be used from there for various purposes. If you want to transfer money from your Skrill account to your bank account or credit card, you will need to initiate the transfer manually. Fees may apply depending on the method and your Skrill status. Being able to keep money in the wallet gives you some flexibility as you can use it for future online payments without having to provide your bank details each time.
PayPal also allows instant and uncomplicated deposits and withdrawals. The big advantage here is that withdrawals from your virtual account to your bank account are always free. There are no fees involved. So if you have received winnings via PayPal, you can transfer them from your virtual account to your bank account without any additional fees, or alternatively leave them there and use them for payments.
Security & Data Protection
Security and data protection are top priorities for both providers. All data transfers are encrypted and your payment information is stored securely. Both providers offer two-factor authentication and login via passkey, which provides additional security. A big advantage of PayPal is buyer protection and constant monitoring for unusual activity. This means that every transaction is not only encrypted and well protected, but you also benefit from the provider’s support and buyer protection if something goes wrong.
Mobile Use
Both providers have a user-friendly mobile app that allows you to make deposits and withdrawals directly from your smartphone or tablet. The apps are intuitively designed and offer all the functions you know from the desktop. This means that mobile deposits at online casinos are no problem with either service.
The PayPal app seems a bit slimmer, faster and more intuitive overall. In addition, you have the great advantage of being able to integrate the service directly into the mobile payment option via NFC. This is not possible with Skrill in this form. However, it is possible via the detour of a Skrill Mastercard.
Conclusion
Both payment methods have their own strengths and weaknesses. The e-wallet scores with fast payment processing, optional credit card and broad acceptance, while PayPal scores with its high level of awareness, very high level of acceptance and high security standards with buyer protection. In addition, transactions to your bank account are free and it can be seamlessly integrated into mobile payment systems.
In practice, the differences for you in the area of payment processing in an online casino are quite small. Your choice ultimately depends on your individual requirements and preferences. We recommend choosing the service that you use more often in everyday life and where you may already have an existing account. Since you can use both services at online casinos as well as additional alternatives such as Klarna, Trustly and more, the decision is ultimately yours.
