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Ukash Now in Australia
Ukash has brought Australia into its widening international net of customer outlets, inking a deal 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 Australia with the possibility of expansion later in the year.
The move will enable the company to tap into Australia's large cash market, its growing number of internet users and its 9 million consumers - nearly half the population - that are concerned at the chances of cyber crime and identity
theft online. Credit card fraud is one of the most common forms of theft in Australia and with 39 percent of the population having been the victim of cyber crime, it is the country with the highest incidence of online fraud in the world, said a kash spokesman.
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 consumers and retailers alike; Ukash currently process several million transactions annually, with values in excess of Euro 100 million.
One of the major benefits of using Ukash is that customers do not need 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 preferred by Aussies, accounting for 70 percent of all transactions made.
The deal with epay allows users to exchange their cash in-store and receive Ukash vouchers - which are available in Oz dollars in amounts of $10, $20, $50, $100, $200 and $500 - with a unique code that users simply provide when paying online. 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 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.
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Ukash vouchers can be used to shop, pay and play online and amongst the commercial many sectors where Ukash is popular, demand for cash payment methods in the online betting and VoIP markets has been particularly strong.
Mark Chirnside, chief executive officer Ukash said: "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.
888 HOLDINGS COMMENTS ON BWIN-PARTY BID -
After some weeks of silence whilst GVC has been upping its offer for Bwin-Party, rival bidder 888 Holdings plc issued a statement Thursday indicating that it stands on its earlier proposal, which the Board of Bwin-Party continue to recommend.
NYX Gaming Earnings Report -
Despite record levels of revenue the NYX Gaming group felt the drag of its underperforming online poker subsidiary Ongame in the second quarter of 2015, its latest results disclose.
GVC Holdings H1-2015 results -
GVC Holdings plc, still embroiled in the fight to buy Bwin-Party, issued its H1-2015 results Friday, commenting that it intends to play a key role in the consolidation phase the online gambling industry is currently experiencing.
BWIN-PARTY EARNINGS UP 2 PERCENT IN H1-2015 -
Bwin.Party Digital Entertainment plc, the online gambling group at the centre of a tug of war between potential buyers GVC Holdings and 888 Holdings, posted a 2 percent rise in first-half 2015 earnings Friday.
Dutch Gambling Market Continues to Grow -
The Dutch government has yet to implement its online gambling legalisation regime but that hasn't stopped the market from growing, according to an overview published this week by the regulator, Kansspelautoriteit.
2015 European Poker Tour High Roller event in Barcelona -
German online and live tournament poker ace Martin Finger has added another trinket to his bulging trophy cabinet - along with the first prize of Euro 865,900 - after taking down the Euro 25,000 buy-in European Poker Tour High Roller event in Barcelona.
DraftKings Opens 3 New DFS sports lounges -
Daily fantasy sports operator DraftKings continued to invest in gaming facilities at top US football stadia this week, opening three new DFS sports lounges in partnership with NFL franchises Dallas Cowboys, New England Patriots and Kansas City Chiefs.
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