South Africans can now use cash to pay online - with Ukash

The payment solution enables online purchasing using prepaid vouchers, easing the minds of consumers and protecting them from credit and debit card fraud, charge-backs and identity theft.

“We saw a great opportunity in South Africa,” says Mark Chirnside, CEO of Ukash. “There are currently no precedents in the market and this opens the door to online shopping for so many South Africans.”

According to a 2007 survey conducted by Finscope, 40% of South Africans are unbanked. “This has limited them from participating in the digital revolution and transacting online,” says Chirnside. “It has also stopped online merchants from marketing to this segment, thus increasing the gap.”

After recognising the opportunity, Ukash, in partnership with Blue Label Telecoms, decided to launch Ukash in South Africa as part of a joint strategic venture.

Chirnside adds that “by exposing the larger part of the population to shopping online, we hope to bring both commercial and social benefits, all the while increasing the chances of socio-economic progress.”

To kick things off, consumers can purchase Ukash vouchers from a wide selection of terminals within the network of Blue Label Telecommunication distribution channels. Consumers can then use the code found on the vouchers when making their online purchase.

“No banking cards or ID numbers are required in the purchasing process,” says Chirnside. “This allows people of any age and from all walks of life, to enjoy the convenience and choice that comes with online shopping, without having to worry about fraud and building up that credit card debt every month.”

As from 17 November, 2008, Ukash vouchers can be spent at a number of top online retailers including wantitall.co.za, a key player in the online shopping sphere and the face of Amazon in South Africa; Bid or Buy; and Ascot Direct to name a few. Consumers can also look forward to using their Ukash at more top retailers such as 1time airlines and social networking and music sites in the coming months.

“Ukash has a long history of expansion into new territories and consistent success in securing a solid network of online merchants accepting Ukash,” says Chirnside.

“We aim to maintain and grow the existing business while bringing the Ukash solution to other markets worldwide. We will continue to partner with e-wallets as the top-up method of choice. We will also further establish ourselves as the preferred prepaid payment solution for the savvy online customer.”

About Ukash™

Ukash™ is a globally recognised e-commerce cash payment method that enables online purchases using cash, providing freedom from credit and debit card fraud, repudiations and charge-backs, and protecting personal identity. Ukash™ is the perfect solution for all consumers to participate in the digital era, even if they do not own a debit or credit card or are unwilling to share their financial details online.

Uniquely numbered Ukash™ vouchers are widely available through payment terminals in retail outlets in Europe and South Africa and via internet-enabled Vodafone mobiles in the UK.

The company has experienced a 257% growth in the past year, becoming the fastest growing provider of online alternative payments in Europe.

Ukash™ has recently established a strategic partnership with South African payments giant Blue Label Telecoms to develop the brand's services. They are authorised by the South Africa Reserve Bank (SARB) to operate in South Africa and regulated by the Financial Services Authority (FSA) in the UK.

For further information on Ukash™, please visit www.ukash.com/za-en.