MASTERCARD POWER TO UKASH
19 June 2009
New convenience for Ukash users
The online payment company Ukash has signed a deal with
MasterCard to facilitate the launch of its pioneering
MasterCard rePower service in Europe - part of a
strategic initiative to allow consumers to load cash
onto their MasterCard and Maestro prepaid cards at
Point-of-Sale (POS) locations.
Ukash, which is
based in the UK and is regulated by the Financial
Services Authority (FSA), is partnering with MasterCard
to enable rapid scale delivery of MasterCard rePower
across Europe. Ukash has an existing global network of
275 000 physical issuing points and its track record
within the alternative payments industry is second to
none; Ukash currently processes several million
transactions annually with values in excess of Euro 100
million.
To load money using MasterCard rePower,
consumers simply swipe their card and in exchange for
cash, their card is loaded with funds. Ukash will enable
this service to be delivered across the UK initially and
then across Europe via existing partners. The value of
the transaction is immediately available for the
consumer to spend anywhere that accepts MasterCard.
Ukash says the benefits to the consumer include:
* A real-time process, providing immediate access to
funds
* More reload locations
* Trust and
security of the MasterCard brand
* Safer than
carrying cash
Mark Chirnside, chief executive
officer Ukash, commented: “Partnering with MasterCard
for the launch of Mastercard rePower is a very
significant step for Ukash. It is one of several markers
that Ukash is now a major player in the global prepaid
industry, with our rate of growth in volume and
geography both moving at significant pace.
"It
also demonstrates the growing popularity of prepaid
products as a viable alternative for consumers. This is
symptomatic of a shift in consumer behaviour as more of
the public look to find safe and secure ways to shop
online while maintaining control of their spending.
Increasingly, they are turning to Ukash to provide the
answers.”
In addition, Ukash is working with
prepaid partners to offer voucher-based reloads as a
value added, complementary service to its customers,
which will provide users with a greater level of choice
and flexibility when loading prepaid cards.
In
September 2008 Ukash received significant additional
funding from South African giant Blue Label Telecoms, a
corporate part-owned by Microsoft, which acted as a
catalyst in the company’s international expansion. Ukash
has signed major deals with international partners which
has seen the company treble in size over the last 12
months, and by 2010 it will be issuing Ukash vouchers
across all five continents.
Online Casino News Courtesy of
Infopowa
More news here.
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