28/06/10 -
First Atlantic Commerce expands UKASH integration to include multicurrency voucher issuing, and full and partial voucher redemption functions
[252398]
FAC and Ukash extend their partnership to better serve
merchants in emerging markets
Hamilton, Bermuda and London, UK. June
8, 2010. First Atlantic Commerce (FAC), an international,
online payment and risk management solutions provider, and Ukash®,
a global online alternative cash payment provider, today announced
the addition of new Ukash processing services including
multicurrency voucher issuing, and full and partial voucher
redemptions via FAC's platform.
The companies teamed up in September 2009 to offer online
merchants full value voucher redemption payment methods in Europe
and emerging online consumer markets. Ukash is a
globally-recognized alternative payment method that allows
consumers to shop, pay and play online safely with cash. FAC
is now able to accept vouchers that are issued from physical Point
of Sale (POS) terminals and online issued vouchers, enabling the
service across both Card Present and Card Not Present
networks.
"This is a significant product release for FAC, providing a
fully integrated and secure alternative payments solution for both
physical retailers selling Ukash through a POS system and Internet
merchants who wish to offer Ukash as a payment method," said Chris
Burns, SVP Business Development at First Atlantic Commerce.
"We expect the Ukash payment brand to expand rapidly in the South
American and Mexican markets where demand for risk free payment
solutions by consumers is growing exponentially."
Ukash, which is regulated by the UK Financial Services Authority
(FSA), combines the timeless simplicity and risk free nature of
cash with the benefits of FAC's payment platform to create a simple
and unique payment process that allows consumers to buy securelyand
privately online.
Ukash can be purchased with cash via the physical POS estate and
online via bank transfer. Vouchers can also now be redeemed
instantly online at participating merchant sites. Partial
voucher redemptions are processed with the remaining voucher
balance issued back to the consumer as a new Ukash 'change'
voucher, in the currency of the merchant's business.
Merchants benefit from accepting Ukash because the service opens
up new consumer markets, while offering freedom from credit and
debit card fraud, and chargebacks.
FAC, a secure, PCI-certified payment gateway, offers a range of
credit card processing and alternative payment options to online
merchants across the Latin American Caribbean Region, UK and
Europe. Ukash vouchers can now be purchased in Latin America
and other emerging markets that require alternative, non-card based
payment solutions for their consumers and unbanked communities.
FAC has developed its payments platform to include various
alternative payment methods in addition to its core online card
processing services. FAC merchants can access Ukash together with
multicurrency acquiring, global check issuing services, Electronic
Funds Transfer (EFT) and a range of card brands for card processing
through a single, secure interface.
For more information on how you can start accepting Ukash via
FAC's platform, contact FAC at info@fac.bm
About First Atlantic Commerce
First Atlantic Commerce (FAC) is a leading Internet,
multi-currency payment and fraud risk solutions provider.
Headquartered in Bermuda, and established in 1998 to create secure
card-based payment solutions for e-businesses, FAC's cGate®
technology offers service, flexibility and security to adapt to
many business and bank acquirer requirements.
FAC provides merchants with multi-currency payment solutions in
addition to fraud and data management services including AVS-only,
CVV2/CVC2/CID verification, and 3-D Secure™ in multiple
jurisdictions across Europe, Asia and the Latin American Caribbean
Region. For more information, please visit www.firstatlanticcommerce.com.
About UKASH
Ukash® is a globally-recognised e-commerce
payment method to enable online purchases using cash, providing
freedom from credit and debit card fraud, repudiations and
charge-backs, and protecting personal identity.
Ukash® is regulated by the UK Financial
Services Authority (FSA) and operates as one of only a small number
of Electronic Money Institutions, a status that allows a single
maximum online cash payment transaction of up to £500/€750.
Uniquely numbered Ukash® vouchers are available
in 31 countries through payment terminals in retail outlets across
Europe, South Africa, Latin America, Canada and Australia. From
spring 2009, Ukash vouchers have also been issued online from the
company's website in most European territories.
The technology behind Ukash is protected by several patents
registered across the Smart Voucher database and functionality and
is, as such, protected by Patent Law in all the major economies of
the world. Ukash® is a registered trademark of
Smart Voucher Ltd.
In 2008, Ukash® established a strategic
partnership with South African payments giant Blue Label Telecoms
to develop the brand's services. For more information please visit
www.ukash.com
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