26/03/2010

Demand for Ukash surges due to popularity of online gaming

Ukash, the world's fastest growing online cash-payments company, has reported a significant increase in redemptions from the online games sector which has resulted from the huge popularity of games such as Mafia Wars and FarmVille.

The global demand for these social networking games, where players can use Ukash to buy 'reward coins' online, has reached an all-time high with more than 100 million users worldwide regularly playing online and Ukash has seen redemptions in this sector more than double in the last 12 months. In addition to direct redemptions of Ukash, the company has seen considerable accelerated growth through third party payment providers that offer Ukash as a payment option within this environment.

Monetising online communities has been an ongoing ambition for the industry and online gaming is a key element of the growth in this market.

Commenting Mark Chirnside, Chief Executive Officer, Ukash said:

"Due to our international presence, Ukash is well-placed to partner with online gaming companies and other specialist payment partners to offer consumers worldwide an alternative payment method that allows them to shop safely online using cash. This market has developed incredibly quickly, and we expect it to continue to grow, so we are confident that we will continue to see increases in redemptions of Ukash as this occurs."

Globally, Ukash is available at more than 320,000 physical issuing points and spans 30 countries.

For more information on where Ukash can be spent, consumers can visit www.ukash.com

 

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    Smart Voucher Limited. (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. This regulation has been passported to all other countries in which Smart Voucher Ltd operates, with approval from the relevant local regulator. Smart Voucher Ltd (trading as Ukash) FSA register number: 900007, Company Number 4202050 registered in England & Wales at 5-7 Tanner Street, London, SE1 3LE, UK.

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