The app, which is available on Android and iOS platforms, will transform the Skrill user experience when sending and receiving money and uploading and withdrawing funds. Customers will also be able to view and search their transaction history and VIP account holders and merchants can easily switch between their multiple Skrill accounts.

Customers will have fast, secure access to their Skrill account with a five digit pin number. There is no need to repeatedly enter a username and password for each account, which reflects the Skrill ethos of making online payments ultra-secure whilst enabling quick and convenient transactions.

Smartphone ownership has now reached more than 50% of the population in France, Germany, Italy, Spain and UK and the mobile app launch signals Skrill's focus on innovation and providing relevant content. For example, customers will now receive exclusive merchant promotions and offers via the new app.

Skrill views mobile technology as a key driver for enabling merchants to improve interaction and engagement with their customers based on how consumers are using mobile technology when making transactions.

Mark Carter, VP of Mobile at Skrill commented: "All the features of our new mobile app have been designed to enhance the customer experience and simplify the process of money management on the move.

"Merchants will also benefit as they gain direct insight into customer behaviour in order to tailor offerings accordingly. The app will help with the acquisition of new customers and these customers should enjoy the compelling new user experience.

"Mobile payments innovation forms a key aspect of our future plans at Skrill. We recognise that relevant and smooth payment experiences present a huge opportunity to provide consumers with an optimised mobile payment solution and enable merchants to build a closer understanding of their customer base, whilst significantly increasing mobile payment conversion rates."