Apple Pay and Skrill stand out as two industry leaders when it comes to digital payments and money transfers. Launched in 2014 and 2001 respectively, both platforms enable users to complete transactions online securely. However, they differ significantly when it comes to accessibility, functionality, security measures and target markets.
This 2500+ word guide will provide readers with a comprehensive, well-researched comparison of Apple Pay and Skrill. Key factors such as features, fees, integration, user experience and more will be analyzed so you can determine the better platform based on your specific needs and priorities.
Introducing Apple Pay and Skrill
Let‘s start with an introduction to both digital payment services before diving into the side-by-side analysis.
What is Apple Pay?
Apple Pay is a mobile payment solution created by Apple Inc., which transformed the payment landscape upon its launch in October 2014. Available exclusively on Apple devices, it allows users to store debit and credit cards in their Apple Wallet app and pay both in stores and in apps using iPhone, Apple Watch or iPad.
Fingerprint or face recognition are used to authenticate payments, with card details never shared directly with merchants. As of 2022, Apple Pay facilitates over 5 billion transactions yearly, accounting for 90% of all contactless transactions in the US (Source: Apple).
What is Skrill?
Founded in 2001 as Moneybookers, Skrill is an online payment platform and digital wallet operated by Paysafe Group. Available across different devices and operating systems, it allows users to make money transfers directly between accounts, pay for goods and services online, and supports transactions in over 40 currencies and cryptocurrencies.
A Skrill debit card and integration with gambling sites and forex brokers also help set it apart. In 2021, Skrill processed payments worth $95 billion across 180 countries (Source: Skrill).
Now that we know the basics, let‘s take a deeper look at how Apple Pay and Skrill compare across several key categories.
Platform and Device Accessibility
One major area where Apple Pay and Skrill diverge is platform and device accessibility…
Apple Pay
As a service designed specifically for the Apple ecosystem, Apple Pay is only accessible on Apple devices such as iPhone, iPad, MacBook and Apple Watch.
Apple Pay is available in 63 countries and regions currently (Source: Apple), though its full suite of features is only enabled where Apple Card has officially launched. This means accessibility is limited globally.
This could be inconvenient for Android users, or those heavily embedded in non-Apple ecosystems. However, for those invested in Apple products already, Apple Pay offers easy and convenient access across their product line.
Skrill
Unlike Apple Pay, Skrill offers apps for both iOS and Android, plus a web interface accessible from any desktop or laptop device, providing more versatile accessibility.
As Skrill support over 180 countries with 40+ currencies, it also has wider global reach – especially important for those requiring international money transfers or use less common forms of currencies that Apple Pay may not support currently.
So while Apple Pay‘s accessibility is impressive among Apple users specifically, Skrill edges ahead in terms of being truly platform and device agnostic.
Features and Functionality Offered
Along with platform accessibility, the actual features and use cases available also impact a user‘s experience – so how do Apple Pay and Skrill compare on this front?
Apple Pay
The hallmark feature of Apple Pay that has made it so popular is its ability to enable quick, easy and secure payments. By storing your cards securely and authenticating transactions biometrically, it transforms everything from making an online purchase to paying a merchant in just a few taps.
This simplicity and convenience has seen Apple Pay quickly dominate the in-person contactless payments space while also being embraced for in-app purchases and ecommerce payments, with 62% of iPhone users trying it.
Besides payments via debit/credit card, Apple Pay doesn‘t offer much else though in terms of financial services and money management features…
Skrill
While Skrill also enables digital payments, it differentiates itself from Apple Pay by serving specific niche transaction use cases – especially those needing multi-currency support.
Key features include:
- Peer-to-peer money transfers – easily send money to friends and family internationally
- Cryptocurrency support – buy, sell or hold 50+ cryptocurrencies
- Prepaid Skrill card – acts as a quasi debit card to access your balance
- Gambling and forex integration – deposit/withdraw with gambling sites and brokers
- Multi-currency accounts – hold balances in EUR, USD and more
This diversity of features beyond just payments gives Skrill wider appeal for certain demographics. It also caters seamlessly to popular use cases Apple Pay does not yet support directly.
Security and Anti-Fraud Measures
Security is paramount for any financial transaction, so what safety precautions are offered?
Apple Pay
Apple Pay prioritizes security by integrating biometric authentication and leveraging secure element technology – a tamper-resistant platform built into Apple devices.
Card details are stored on this isolated secure element chip rather than Apple‘s servers. One-time unique security codes are then validated via Touch ID or Face ID. This keeps payment info private, even from Apple.
The biometric identity check each transaction combined with the hardware-backed security makes Apple Pay transactions extremely safe.
Skrill
For their part, Skrill also deploys robust measures to prevent fraud and data breaches. All money transfers and transactions made require two-factor authentication.
Email confirmations and login alerts provide transaction monitoring as well. AI and machine learning help detect suspicious activity immediately too and potentially block accounts.
So while Apple Pay offers best-in-class biometric security, Skrill‘s safeguards are also comprehensive. Both utilize industry standards around encryption and hashing to protect sensitive user data as well.
Ultimately, both Apple Pay and Skrill transactions can be considered extremely secure – with Skrill also insuring users up to $10,000 per case for unauthorized payments.
Supported Currencies and Geographical Availability
Applicable currencies and the regions supported also impact platform choice…
Apple Pay
At present, Apple Pay supports transactions in 45 currency denominations (Source: Apple) – from Australian Dollars to South Korean Won and beyond.
However, its availability globally depends on Apple Pay‘s official rollout in that particular country and linked banking support. Right now it is usable as a payment method in 63 regions but still missing in some parts of South America, Africa and Asia with growth continuing annually.
So while reasonably extensive, Apple Pay does have pockets around the world where service remains limited.
Skrill
Being focused on enabling international money transfers, Skrill actually supports over 40 global currencies – including more exotics ones like Indian Rupees, Turkish Lira and South African Rand.
Service stretches across 180+ countries covering Europe, APAC, MENA and the Americas without issue. So despite having fewer active registered accounts than Apple Pay, Skrill pips it for global reach.
This gives Skrill strong appeal for freelancers and remote workers receiving international payments from clients and companies. It has greater utility in emerging digital economies as well.
Fees and Charging Structure
The costs involved in using either payment platform should be understood too…
Apple Pay
The good news is Apple Pay comes with no fees at all for consumers. You won‘t get charged for storing cards, transferring money to family or making payments both online and in-store via Apple Pay.
Instead, Apple makes most of its revenue by taking a minor cut from the interchange fees – transaction rates paid by merchants and banks on credit/debit card payments. Rates vary based on product and average around 0.15% domestically.
So Apple Pay offers a seamless, cost-effective service to attract more users into the Apple ecosystem without burdening consumers directly with excessive fees. Merchants do shoulder some costs however.
Skrill
Skrill does pass on more direct costs to its users compared to Apple Pay but offers greater transparency on pricing. Account sign-ups are free, but subsequent activities incur charges including:
- Money transfers – $3 + 2.9% per transfer
- Currency conversions – 0.5% above wholesale rate
- Cryptocurrency transactions – 1% buy/sell fee
- Card purchases – $1.50 + 2.9% per transaction
- Account loading – 1.9% + $0.25 per load
So while Apple Pay emerges as the more cost-effective platform day-to-day for consumers, Skrill users gain greater versatility in transaction options albeit with added fees attached in most cases.
Integration and Compatibility with Other Platforms
The ability for payment platforms to integrate with other apps and services also affects utility.
Apple Pay
At its core, Apple Pay has been designed specifically to provide seamless integration across Apple‘s own apps and services ecosystem. Users can easily make in-app purchases on the App Store, transactions via Apple Cash and pay for iCloud storage among other Apple offerings.
Third-party app support is extensive as well – with leading ecommerce sites, grocery delivery apps, rideshares and other everyday services supporting Apple Pay transactions.
So for iPhone users embedded within Apple‘s suite of products plus external iOS apps, Apple Pay interoperability is unmatched. But there are still some limitations that prevent universal integration.
Skrill
While perhaps not as deeply embedded into a single overarching ecosystem, Skrill does enable extensive integration into online platforms where money transfers are key. These include:
- Online gambling – deposits/withdrawals with sites like BetMGM
- Forex trading – fund accounts and collect profits
- Ecommerce stores – pay anyone supporting credit/debit cards
- Freelancing sites – withdrawal portal for platforms like Fiverr
Skrill‘s open API also allows third-parties to add it as a payment option fairly simply. This gives it an advantage in terms of flexible integration outside Apple‘s walled garden.
Ease of Use and User Experience
Despite functionality offered, a frustrating user experience ultimately hinders platform stickiness – so how intuitive are they?
Apple Pay
Streamlining the entire payment process into a few simple taps is where Apple Pay shines brightest. By integrating directly into the Wallet app, you can easily:
- Add Cards – use camera to scan card details automatically
- Make payments – authenticate with FaceID and done
- Check activity – review recent transactions
With Apple renowned for their focus on simplicity and minimalist design in their interfaces, Apple Pay offers one of the most seamless and user-friendly payment experiences available.
Skrill
The Skrill user experience is reasonably straightforward as well but made slightly more complex by the expansive feature set offered beyond just payments – with menus linking out to its digital wallet, forex tools, crypto exchange plus all the account management dashboards.
While still intuitive, those less tech-savvy may find the extra menus and options overwhelming compared to Apple Pay‘s simplicity.
However, Skrill does provide extensive customer support resources like setup guides and 24/7 live chat to assist users navigating its platform – which helps balance out the steeper learning curve.
Apple Pay vs Skrill – Key Takeaways
Now that we‘ve compared Apple Pay and Skrill across 8 different criteria, let‘s summarize the key differences:
As shown in this overview table, Apple Pay stands out for its smooth user experience, tight integration into the Apple ecosystem, and biometric security assurances.
However Skrill pips it in certain areas – notably geographic reach, support for niche features like crypto and forex trading, lower fees for merchants and flexibility to integrate with third-party money transfer apps not tied to Apple.
So all up, Apple Pay represents the superior mainstream payment method specifically for iPhone users – who will appreciate its simplicity and security measures in day-to-day transactions.
But Skrill provides better versatility for technologically adept consumers that make frequent international money transfers, use alternative currencies or require access across non-Apple devices.
Hopefully this detailed 2500 word examination gives you clarity on which platform better matches your priorities as a user.
The Verdict – Which Online Payment Method is Better Overall?
At a high level, Skrill pips Apple Pay in terms sheer number of supported features and transaction types – helped by 3x more years in market development.
However, Apple Pay undeniably provides the most polished, integrated and frictionless payment experience specifically for the average consumer embedded in their ecosystem.
So ultimately there is no singular "better" platform – it depends significantly on user preferences and device ecosystem currently leveraged.
For most Apple device owners who simply want to upgrade from a physical wallet to phone-based contactless payments, Apple Pay is the obvious solution.
But international freelancers, forex traders, crypto enthusiasts and remote workers will find more value from Skrill‘s specialized tools.
In summary, if you live your life through Apple devices already, choose Apple Pay. But if you need payment flexibility across geographical borders and currencies, pick Skrill.
And now you have the benefit of a fully informed perspective to guide your own decision as to which platform better enables your financial needs and priorities.
