Home Technology Retail Online cashU & Ukash ties up for European expansion

cashU & Ukash ties up for European expansion

cashU, the largest internet payment system in the Middle East and Africa, has formed an alliance with Ukash, a cash-based online pre-payment company, which will enable Ukash vouchers to be used to top up cashU accounts, extending the accessibility of cashU to 20 countries in Europe. Both companies allow users to spend online, enabling consumers to effectively pre-pay for online purchases without credit cards. Under the terms of the partnership, Ukash will integrate cashU as an issuing method, taking advantage of cashU's reseller network, which covers all of the countries in the GCC, Levant, and North Africa. The great news here is that Ukash has tens of thousands of locations across Europe including the UK, Ireland, Spain, Germany and the Netherlands. At any of these locations a person can walk in with cash and purchase one of their vouchers which will spend online or fund an online product account. In this case, cashU would be the convenient online product which is receiving the cash funding. Once consumers have paid, they then receive an email or SMS message containing a unique, secure 19-digit Ukash voucher number. To spend Ukash, the consumer simply enters their 19-digit code and value when asked for payment details during the checkout process. The Ukash payment is authorised in real-time and, if change is required, a new Ukash 19-digit code is issued online to the customer. cashU has a massive reseller network that stretches across North Africa and the Middle East from Morocco to Iran. This merging of business products and brand synergy should offer new expanded options and additional online shopping for a few million new customers. Martin Waldenstrom, general manager of cashU, said: "I'm very excited about the new partnership between cashU and Ukash. With over 120,000 payment/purchase terminals, Ukash has a high density retail penetration in Europe, and is of great advantage to cashU account holders." Moreover, this solution is expected to reach out and benefit communities across Europe which have previously been unable to transact online.

 

< Prev		Next >