As part of its strategic plan to enable cash consumers to shop
online anywhere in the world, Ukash announced today the launch of
its globally recognised alternative payment method in Australia.
Through a deal that was recently signed with epay Australia, Ukash
vouchers, which allow consumers to shop, pay and play online using
cash, will initially be available at 3,600 outlets across the
country, with this due to expand throughout the remainder of the
year.
Launching into this new continent is the next major milestone in
Ukash's international expansion and the company is hoping to tap
into Australia's large cash market, its growing number of internet
users and its 9 million consumers - nearly half the population -
that fear cyber crime and identity theft online[1]. Credit card fraud is one of
the most common forms of theft in Australia and with 39 per cent of
the population having been the victim of cyber crime, it is the
country with the highest incidence of online fraud in the world[2].
Ukash, which is based in the UK and is regulated by the
Financial Services Authority (FSA), has an existing global network
of 275,000 issuing points, providing a payment solution to
consumers across the UK, Europe and South Africa. The Ukash
business model has proved highly attractive to both consumers and
retailers alike; Ukash currently process several million
transactions annually, with values in excess of €100m.
One of the major benefits of using Ukash is that you do not have
to have access to a bank account or credit card to shop online. And
according to research conducted by the Reserve Bank of Australia,
cash is still the primary payment method used by Aussies,
accounting for 70 per cent of all transactions made.[3]
The deal with epay allows users to exchange their cash in store
and receive Ukash vouchers - which are available in AUD in amounts
of $10, $20, $50, $100, $200 and $500 - with a unique code for
users to simply provide when paying. The anonymity of buying and
spending Ukash means that no financial details are required from
the consumer, and people can shop online without worrying about the
continued risk of online identity theft.
Ukash will be available to consumers across Australia from 3,600
epay retailers, including petrol stations and convenience stores.
This will complement the Ukash Online solution, which allows
consumers in Australia to purchase Ukash online directly from their
bank account through all major banks - a secure online issuance
function which provides comprehensive authentication and
verification technology to online consumers.
Ukash vouchers can be used to shop, pay and play online and
amongst the many sectors that Ukash is popular in, demand for cash
payment methods in the online betting and VoIP markets has been
particularly strong.
Mark Chirnside, chief executive officer Ukash, explains, "Ukash
is embarking on a period of international expansion as we continue
to make online shopping available to anybody, anywhere in the
world. By opening up internet shopping to the cash market Ukash
allows those without bank accounts or credit cards, or those who
have fears of online fraud, to shop securely online using cash. We
are excited by our move into the Australian market, which we
believe will be another strategic success for our company and we
are looking forward to working with retailers here to help them
develop valuable new revenue streams."
In September 2008 Ukash received significant additional funding
from South African giant Blue Label Telecoms, 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, and the company is currently pursuing a number of other
strategic prepaid projects to enable the cash consumer to shop
online anywhere in the world.
About Ukash®
Ukash® is a globally-recognised e-commerce
payment method to enable online purchases using cash, providing
freedom from credit and debit card fraud, repudiations and
charge-backs, and protecting personal identity.
Ukash® is regulated by the UK Financial
Services Authority (FSA) and operates as one of the only a small
number of Electronic Money Institutions, a status that allows a
single maximum online cash payment transaction of up to
£500/€750.
Uniquely numbered Ukash® vouchers are
widely available through payment terminals in retail outlets across
Europe and South Africa. And from spring 2009, Ukash vouchers will
also be issued online from the company's website in most European
territories.
The technology behind Ukash is protected by several patents
registered across the Smart Voucher database and functionality and
is, as such, protected by Patent Law in all the major economies of
the world. Ukash® is a registered trademark of
Smart Voucher Ltd.
In 2008, Ukash® established a strategic
partnership with South African payments giant Blue Label Telecoms
to develop the brand's services.
For more information please visit www.ukash.com
About epay
epay commenced operations with Euronet in February 2003 and was
the first company of its kind with Global experience, technology
and market experience. epay Australia has since become the premium
distributor of prepaid products. In mid 2008 epay Australia
expanded its operations and now has a retailer base covering all
major petroleum, convenience, supermarket and newsagent channels.
epay supplies the service behind prepaid transactions to 22,000
retails nation-wide including major retailers like Caltex,
Woolworths, BP and Coles Express.
Dispensing PINs, activating products, and initiating payment on
behalf of over 80 products. Our product categories include mobile
top-ups for all major carriers including Optus, Telstra and
Vodafone. Calling cards, prepaid internet, music, movies, games,
prepaid Visa, gift cards. epay Australia has been at the forefront
of products and technologies and in 2009 launched the first ever
prepaid internet security and also recently launched a joint
agreement with the Queensland Government to offer prepaid tolling
on Queensland Motorways
For more information on epay Australia please visit our website
www.epayaust.com.au or
contact Natasha Stralow Marketing Manager Australia and New Zealand
nstralow@epayaust.com.au
(+61) 402 893 294
[1] Newspoll
report: May 2009
[2]
Creditcards.com: September 2008
[3] Reserve Bank
of Australia: July 2009