September 21, 2011 04:00 ET

Rapidly Growing Online Payments and E Money Business Ukash Adds to Recent Success With a Place on Sunday Times Microsoft Tech Track 100

LONDON, UNITED KINGDOM--(Marketwire - Sept. 21, 2011) - E money provider Ukash has been included in the Sunday Times Microsoft Tech Track 100 for the first time.

This success comes hot on the heels of an outstanding year for the Financial Services Authority regulated company: Ukash achieved its first year of profitability in 2011, a remarkable 80% year-on-year business growth as a result of its continued global expansion, and was awarded the prestigious Queen's Award for Enterprise.

Ukash now processes over £500million of safe online shopping transfers worldwide every year. However, perhaps the greatest accolade is that 93% of Ukash customers in surveyed would recommend Ukash's e money system; 83% already have.

The Sunday Times Microsoft Tech Track 100 league table ranks Britain's 100 private tech (TMT) companies with the fastest-growing sales over the latest three years.

Tech Track 100 is compiled by Fast Track and published in The Sunday Times each September, with an official awards event in November. The league table champions the UK's top-performing private companies.

David Hunter, Chief Executive Officer of Ukash, said: "Being a Tech Track 100 company is a fantastic triumph. Not only does it recognise the company's commercial growth, the achievement signifies that every day, Ukash is enabling even more consumers all over the world to use cash online, simply and safely. On behalf of the whole company, I would like to thank our staff, partners and customers for their remarkable contribution to Ukash."

A typical Tech Track 100 company has between 20 and 100 staff, has average 3 year sales growth ranging from 35% pa to 360% pa, and has sales ranging from £5m - £50m – all characteristics true of Ukash.

Since its inception in 2005, Ukash® has promoted safe online shopping by enabling consumers to use their cash online without having to reveal financial information. Cash can be exchanged for a unique 19 digit Ukash® voucher at over 420,000 physical points of purchase, or issued online from the company's website. The unique 19 digit vouchers are then used as e money to pay directly on thousands of websites that accept Ukash® worldwide. Ukash vouchers are easy to buy and spend, making online transactions more accessible, secure and convenient.

What is Ukash?

Ukash® is the Global e-Money Network and internationally recognised e-commerce cash payment method that enables consumers from anywhere in the world to shop, pay and play online safely, using cash. This secure payment method was developed to protect personal identity and financial information when making online transactions; reducing the threat of credit and debit card fraud for consumers and repudiations and charge-backs for retailers. Ukash® has no age limit, so consumers of all ages can make the most of safe payment online.

Ukash® vouchers are purchased with cash in retail outlets and issued online from the company's website. The unique 19 digit vouchers are then used to pay directly with cash on any of the thousands of websites that accept Ukash transactions worldwide.

Established in 2001 under the holding company Smart Voucher Ltd, Ukash® has grown to more than 420,000 physical points of purchase, and is available in more than 50 countries around the world in 6 continents. In 2008, Ukash established a strategic partnership with South African payments giant Blue Label Telecoms – part owned by Microsoft - to develop the brand's services.

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.

In 2011, HM The Queen awarded Ukash® a Queen's Award for Enterprise in the International Trade category. The prestigious award recognises UK businesses that have achieved substantial growth in overseas earnings and outstanding levels of commercial success. Ukash, operating under the holding name of Smart Voucher, was awarded as a result of its geographical and financial growth.

Ukash® was included in the Sunday Times Microsoft Tech Track 100 in 2011, which identifies and ranks the most successful private companies in a league table.

The technology behind Ukash® is protected by Patent Law in all the major economies of the world. Ukash® is a registered trademark of Smart Voucher Ltd.

The facts

  • Ukash® was established in 2005.
  • Ukash® has grown to over 420,000 physical points of purchase.
  • Ukash® is available in over 50 countries around the world, across 6 continents.
  • Ukash® can be spent on 50 websites.
  • Ukash® is available in 10 currencies.

What are the benefits?

Ukash® is the safe and secure way to pay – there's no need to share financial details online.

Ukash® empowers consumers to use cash electronically, irrespective of status, device or boundary, regardless of having a credit or debit card and enables them to stay in control of spending.

Ukash® is flexible: consumers can take Ukash® and split it into smaller amounts, combine into larger amounts, convert into other currencies or even donate Ukash® change to charity.

Ukash® is convenient, simple and FREE. Ukash® is also available via online bank transfer and it is easy to use at any website that accepts Ukash.

Ukash® is available for all - whether you are concerned by online fraud or don't have a bank card, you can use Ukash® to pay, play and shop online at thousands of global locations.

Ukash® opens up new markets for companies to sell their goods and services online to those without credit or debit cards, even bank accounts, and those simply reluctant to give financial details online.

Ukash® is the proud headline sponsors of the Prepaid Awards 2011

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