November 25, 2011 04:00 ET

Ukash Joins TIGA

Global e-Money Network Ukash has Joined TIGA, the Trade Association Representing the UK Games Industry

LONDON, UNITED KINGDOM--(Marketwire - Nov. 25, 2011) - Ukash is an online payment solutions company, operating across more than 50 countries in six continents. Uniquely numbered Ukash ® vouchers are widely available through over 400,000 payment terminals in retail outlets and online from the company's website. These vouchers enable consumers to convert their cash into electronic money that can then be spent online.

Ukash enables participating online games merchants to accept cash at their website without risk of repudiations and charge-backs. The merchants also benefit from accepting Ukash because they open up new markets to which they can sell their goods and services online. Consumers benefit from their financial identity being protected.

In the past year, Ukash has added 46 publishers to their portfolio, including Electronic Arts, Bigpoint, Perfect World Entertainment, Gala-Net, and Gameforge. In 2011, Ukash was a winner of the Queen's Award and ranked in the Times 2011 Tech Track 100.

Since its launch in 2005 Ukash has become a globally-recognised online payment solutions provider that enables online transactions using cash, providing freedom from credit and debit card fraud, repudiations and charge-backs, and protecting personal identity.

Paul Coxhill, Marketing Director of Ukash, explains the reason why he decided to join TIGA:

"The United Kingdom is one of the strongest markets for Ukash, and the percentage of users opting to use alternative payments online is increasing daily. Ukash is joining TIGA to promote alternative payment methods online as a way for games publishers to monetise more paying users who are cash players. Ukash is also available in over 50 countries, which means we can help and advise developers and publishers on how to monetise players in other countries."

Dr. Richard Wilson, TIGA CEO, welcomed Ukash to TIGA: "TIGA's research shows that an increasing proportion of developers are becoming self-publishers and that they are experimenting with a variety of business models. Ukash is an award winning company with an expertise in online payment methods. I am sure that many developers will be interested in examining Ukash's services. We welcome Ukash to TIGA."

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.

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