BWI: Paybycash® Signs up Ukash for Online Cash Payment Solutions

Press release from Business Wire India
Source: PlaySpan India Pvt Ltd
Friday, February 13, 2009 02:41 PM IST (09:11 AM GMT)
Editors: General: Consumer interest, Entertainment; Business: Advertising, PR & marketing, Banking & financial services, Information technology, Media & entertainment; Technology
Release no: 19236
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Paybycash® Signs up Ukash for Online Cash Payment Solutions


Mumbai, Maharashtra, India, Friday, February 13, 2009 -- (Business Wire India) -- Ukash, the fastest growing online cash payment solution, has signed a deal with PayByCash allowing hundreds of online merchants to offer a safe, quick and easy cash payment method for online purchases.

US-based PayByCash, a subsidiary of PlaySpan, offers a portfolio of more than 70 payment methods worldwide - this now includes Ukash. The company helps merchants retain customers and maximise revenue by giving consumers the option to pay in other ways than with credit cards, meeting the market's growing demand for alternative payment methods. PayByCash is accepted by over 200 popular online games and virtual worlds.

Customers who choose non-card payments are transferred from the merchant's site to a PayByCash hosted page where they select Ukash and simply enter the unique 19-digit number featured on their Ukash voucher to complete the transaction. When using PayByCash, the consumer is charged a small service fee for non-card payments.

Ukash's prepaid e-cash vouchers provide customers with peace of mind, eliminating the threat of fraud and allowing the customer to pay without the need to reveal sensitive financial details.

"We are really pleased to work with such an active global payment service as PayByCash" Mark Chirnside, CEO of Ukash, explains. "This agreement gives our customers in Europe the choice to use Ukash at a great range of merchants, including some of the most popular online games and communities."

Kevin Higgins, from PayByCash, comments "We have seen Ukash's impressive growth in the last 12 months and have no doubt it will be quickly adopted as a payment option by our key audiences, specially the younger population. Likewise, we are also looking forward to introducing Ukash customers to our exciting offering."

Ukash, which has experienced a 140% increase in sales in the last year, provides a simple and secure way for consumers to buy goods and services online with its prepaid vouchers, available at 275,000 locations across Europe and South Africa, via mobile in the UK and now also online in most territories.

About UkashT

UkashT 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.

UkashT 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 UkashT vouchers are widely available through payment terminals in retail outlets across Europe and South Africa. In the UK, they are also available direct to mobile for Vodafone subscribers 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. UkashT is a registered trademark of Smart Voucher Ltd.

In 2008, UkashT 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 PayByCash®

PayByCash® is a subsidiary of PlaySpan, Inc, who have empowered non-credit card customers and the Internet businesses that want to reach them since 1998. PayByCash offers more than 70 payment methods, providing merchants with global reach and reduced fraud risk.

PayByCash also distributes the Ultimate Game CardT, the multiplayer game industry's best known pre-paid card. The Ultimate Game Card can be used by young demographics to pay for access to hundreds of online games, virtual worlds, and premium content. It's distributed in over 21,000 stores in North America, as well as in other markets worldwide.

For more information about PayByCash, visit http://www.paybycash.com.

About PLAYSPAN INC.

PlaySpanT is the game industry's first publisher-sponsored in-game commerce network. PlaySpan's patent-pending in-game search, commerce and micropayment technologies enable game publishers and developers to generate new revenues, acquire new users and extend the loyalty of existing users. Leading game providers and virtual world publishers have selected PlaySpan as their official marketplace for virtual goods.

PlaySpan is headquartered in Silicon Valley with offices in Charlottesville, Va, Cincinnati, Ohio and Mumbai. Investors include Easton Capital, Menlo Ventures, STIC and Novel TMT Ventures.

For more information about PlaySpan, visit http://www.playspan.com



CONTACT DETAILS
Mr. Vinayak Rao, PlaySpan India Pvt Ltd, +91 9820045958, Vinayak.rao@playspan.com

KEYWORDS
CONSUMER, ENTERTAINMENT, MARKETING, BANKING, IT, MEDIA, TECHNOLOGY

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