Ukash finds cash online is on the rise as consumers look
at ways to control their spending in the credit crunch
As the credit crunch really begins to bite, sales figures from
e-commerce payment service Ukash show that there has been a huge
rise in consumers using cash online.
Ukash, the voucher-based prepaid online payment provider, has
seen sales increase by 140% in the last 12 months and the company
predicts that there will be continued growth in 2009 due to:
- Consumers becoming increasingly fearful of spiralling spending
on credit
- The need to avoid charges from credit card companies and
banks
- The continued threat of online credit card fraud and identity
theft
Online spending across the retail sector has increased by 15%
for the final quarter of this year compared with the same period
last year* and New Year's sales are expected to provide retailers
with a further boost as they look to defy the downturn in the
economy. But consumers are changing the way they choose to do their
online shopping.
Ukash users can purchase vouchers from hundreds of outlets
across Europe and South Africa, receiving a unique 19-digit code
which they can use anonymously online.
Mark Chirnside, chief executive of Ukash, explains the growing
trend for alternative online payment solutions, "As consumers
become more conscious of their credit-based spending, we are
finding that our payment solution provides a convenient, easy way
for shoppers to manage their finances."
* Source: IMRG (Interactive Media In Retail Group)