Moneybookers provides online shopping and money transfer services, allowing businesses and consumers to send and receive payments on the internet by making use of an email address. Customers send money via email from their credit or debit card or bank account. The system requires identity verification before using the service to prevent fraud and money laundering. Moneybookers clients can send, receive and hold funds in 29 currencies worldwide. The company performs payment processing for websites, online auction sites and other corporate users.
On 15 January 2009, Moneybookers also announced the development of a payment process for the open source e-commerce web application Magento.
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