Ukash, a UK based e-wallet company recently announced that it has entered into an agreement with PayPoint, a specialized retail payment network that will allow Ukash customers to make cash withdrawals in more than 24,000 locations.
This is great news to all Ukash customers, especially on those online poker sites who in the past have been able to use Ukash to make deposits. They will now be able to use the service to not only make deposits but also withdraw their winnings.
Smart Voucher Ltd owns Ukash and the UK Financial Conduct Authority (FCA) regulates it as an Electronic Money Institution. Ukash has received a number of prestigious awards such as the Queen’s Award for Enterprise in 2011 and 2012 and has also has the distinction of being rated as number 23 on the Sunday Times list of the top 100 fastest growing technology companies in the UK.
The Ukash system is an extremely convenient to use online payment system and serves a number of online poker and online gaming players. The Ukash platform is designed to provide its users with a 19 digit code that allows them to make online payments at most of the online gambling websites. They are not required to enter any personal information and hence do not need to worry about security and confidentiality. However, they have to provide relevant information to the online gambling websites who have strict rules when it comes to money laundering procedures.
CEO David Hunter of Ukash was confident that this new service will bring in more new customers and also make the old ones extremely happy. He also expected an increase in customers as more people start using the Ukash service to do online shopping. In a statement, Hunter said
At the heart of this new service is our mission to give consumers the utmost flexibility with their Ukash, We also believe it creates even greater appeal for e-commerce retailers to add Ukash to their payment options.
Ukash focuses on a customer base that prefer to keep their personal details confidential. Hence, a large number of its users hail from the gambling community as they are the ones who prefer to keep their spending, identity and personal information hidden. The Ukash platform is a perfect service for them and they new function of being able to make cash withdrawals will ensure that it now provides stiff competition for Neteller, one of its competitors.