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Players' Fears Regarding Online Security See Ukash Increase Business by 85%

(December 23, 2011)

LONDON, UNITED KINGDOM -- (Marketwire) -- 12/23/11 -- Ukash, the global e-money network, has found that games players and consumers are looking for alternatives to credit card payments in the wake of recent, well -publicised breaches of online security.

Ukash has seen its business increase 85% year on year as more people look to play or pay online without having to submit personal financial details to websites.

For the site owners, online payment solutions such as Ukash addresses these consumer concerns, offering a hassle-free alternative to using credit card details online.

Consumers can exchange their cash for a Ukash payment vouchers of equal value, readily available at over 50,000 outlets in the UK and Ireland and over 420,000 outlets in more than 50 countries worldwide.

David Hunter, Ukash chief executive said: "There is a concern amongst online players about providing their financial details. Even the biggest game brands are susceptible to user details being phished or hacked, so it's no surprise consumers are looking for more secure ways to pay and play.

"Online gamers can minimise the risk to themselves by using Ukash. There are no personal financial details to lose. For the publisher, there is no financial data to maintain, and it's easy to integrate with existing payment options. Players tell us that they use Ukash for many reasons ranging from security, convenience, not having a card that can be used online, to privacy. This means games publishers can reach new markets," Hunter continued.

Since its launch in 2005 Ukash has become a globally-recognised payment method that enables online transactions using cash, providing freedom from credit and debit card fraud, repudiations and charge-backs, and protecting personal identity. Ukash allows participating online games merchants to accept cash at their websites without risk of repudiations and chargebacks - which also means that new cash-focused markets are opened up. Consumers benefit from their financial identity being protected and a secure, convenient and easy to use payment method.

In the past year, Ukash has added 46 publishers to its 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 23rd in the 2011 Sunday Times Microsoft Tech Track 100.

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 GBP 500/EUR750.

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.

Visit for more information.

Bastion PR
Christina Erskine
+44 (0)20 7269 7900

Bastion PR
Dean Barrett
+44 (0)20 7269 7900

Copyright @ Marketwire

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