The collaboration will allow CMC to expand its range of payment options for traders in the European Economic Area, Southeast Asia, the Middle East and other global markets (aside from the United States and United Kingdom, at least for now), according to a Monday (Sept. 22) press release.
With this partnership, Paysafe’s Skrill and Neteller become the online trading broker’s first digital wallets and alternative payment methods (APMs) in these markets, per the release.
“Whether trading forex, commodities, shares, indices or treasuries, CMC customers can use Skrill or Neteller to fund their trading accounts seamlessly and securely,” the release said. “The digital wallets, both of which were launched more than 20 years ago and boast a longstanding history serving the forex and financial trading industry, will allow CMC customers to benefit from rapid payment solutions that have been developed with traders in mind.”
In addition to funding their CMC accounts, traders can use Skrill and Neteller to make withdrawals without delays. Once a trader moves money to these digital wallets, they can then withdraw it to their bank account, card or another APM, or use it to fund new trading positions with CMC, according to the release.
“Considering Skrill and Neteller’s global popularity with millions of users worldwide and their long association with online trading, this integration is particularly impactful,” Alexander Praill, head of payment services at CMC, said in the release. “Traders will now be able to make payments and withdrawals using their preferred medium, giving them the freedom to trade their way and strengthening our customer-centric approach.”
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Meanwhile, digital wallet use continues to grow. The PYMNTS Intelligence report “Virtual Mobility: How Mobile Virtual Cards Elevate B2B Payments” found that 82% of merchants plan to expand their use of the wallets in 2025.
“Consumer expectations for frictionless payments are pushing businesses to mirror those habits in B2B transactions, where mobile wallets can reduce administrative costs and provide real-time spending insights,” PYMNTS wrote Sept. 4.
A separate PYMNTS Intelligence report, “eCommerce for All: How Consumers Across Generations Make Purchases Online,” revealed that digital wallets are seeing greater traction online.
The report found that 16% of consumers said they used digital wallets for their last online retail purchase, a rate double that of brick-and-mortar retail purchases.
