cashU Extends Reseller Network in Europe with Ukash
22/5/2007
cashU® - the largest Internet payment system in the Middle East and Africa has partnered with Ukash, Europe’s leading cash-based online pre-payment company.
Ukash vouchers can now be used to top up cashU accounts, extending the accessibility of cashU in 20 countries across Europe.
In principle, both Ukash and cashU allow users to spend online, enabling consumers to effectively pre-pay for online purchases without credit cards.
In an unusual example of brand synergy, both Ukash and cashU chose to play to each other’s strengths, based on a mutually exclusive user base. cashU’s integration is the first step, Ukash will soon integrate cashU as an issuing method, taking advantage of cashU’s reseller network which covers all the countries in the GCC, Levant, and North Africa - from Morocco to Iran.
In the UK, Ireland, Spain, Germany & the Netherlands consumers can get Ukash vouchers from thousands of locations such as convenience stores, newsagents, post offices and petrol stations. Now cash consumers in a further 15 European countries can get Ukash by ordering online and paying by internet banking or at a bank. They then receive an email or SMS message with their unique and secure 19 digit Ukash voucher number. To spend Ukash the consumer simply enters their 19 digit code and value when asked for payment details during the check out process. The Ukash payment is authorised in real-time and if change is required a new Ukash 19 digit code is issued online to the customer.
Commenting on the new feature, Martin Waldenström, General Manager, cashU said, “I’m very excited about the new partnership between cashU and Ukash. With over 120,000 payment/purchase terminals, Ukash has a high density retail penetration in Europe, and is of great advantage to cashU account holders.”
According to Mark Chirnside, CEO at Ukash, the partnership with cashU will enable previously excluded communities to benefit from ecommerce: “Both consumers using cashU and merchants signed up to accept cashU will benefit tremendously from reaching into sections of the community across Europe that have previously been unable to transact online, now that they can top up their cashU accounts with Ukash.”
cashU addresses the need for an internet payment solution, in markets and demographics where credit cards are not very prevalent. cashU’s prepaid card system enables minors to access and purchase online products and services anywhere on the Internet safely and without worries.
©2008 Smart Voucher Ltd
Smart Voucher Ltd. (of which Ukash is a trading name) is authorised and regulated by the Financial Services Authority in the United Kingdom as an electronic money institution. Smart Voucher Ltd (trading as Ukash) FSA Register Number: 447811.