Blue Label Telecoms and DataCash invest in Ukash to see
the e-cash solution reaching new territories
UK based, Smart Voucher Ltd, trading as UkashTM - the
e-commerce cash payment service, has secured investment from two
groups: South African based, Blue Label Telecoms, (via it's
subsidiary Gold Label Investments) and AIM Listed payment service
provider DataCash.
Ukash was launched in 2005 and has become a globally recognised
payment method that enables consumers to make on-line purchases
whilst protecting them against credit card fraud and identity
theft. Ukash online "cash" transactions have grown at a rate of
257% from 2006/7 to 2007/8. The alternative online payments sector
is also experiencing strong growth and is currently estimated at
USD 106 billion by 2012 in the US alone (source Javelin Research
& Strategy 2007).
Ukash has developed superior, proprietary technology which can
be expanded beyond the on-line payments world into international
money transfer.
Mark Chirnside, CEO of Ukash said, "This investment is a
testament to the growth potential for alternative payment methods
across the world. It is very exciting for all parties."
Blue Label Telecoms is a leading distributor of prepaid secure
electronic tokens of value and transactional services and has
successfully built a global distribution network of over 200,000
touch points within emerging markets such as South Africa,
sub-Saharan Africa and India The group has also recently announced
a joint venture in Central America.
DataCash Group PLC (AIM: DATA), a market leading provider of
payment processing solutions, provides merchants with a single
interface that allows them to process secure payments, both on and
offline, anywhere in the world. DataCash also provides a range of
valueadded services with its fraud and Risk Management solutions
supporting AVS/CV2, 3-D Secure
(Verified by Visa and MasterCard Secure Code) together with
traditional rules-based screening.
DataCash provides first-class service reliability at a fraction
of the price of an in-house solution, servicing clients within the
retail, travel, telecommunications and gaming sectors.