Ukash can now be purchased online by Standard Bank Internet banking customers

Issued by ING MEDIA for Ukash
Johannesburg, 01 Aug 2011

Ukash, the Global e-Money Network, has announced that Standard Bank Internet banking accountholders will now be able to buy Ukash vouchers directly from their accounts, enabling them to shop online without revealing personal details.

Standard Bank is a leader in state-of-the-art customer banking solutions in South Africa and offers the Autopay system that enables its accountholders to pay online for goods and services directly from a linked account. Now enabling Ukash, Standard Bank's Autopay allows consumers in South Africa to shop and pay online with “cash” wherever Ukash vouchers are accepted.

Geraldine Mitchley, Product owner of Autopay, said: “The initiative with Ukash increases the number of outlets where Standard Bank Autopay customers can shop securely online without a credit card. Giving Standard Bank Internet banking customers access to secure online shopping and money transfers through AutoPay matches the bank's customer focused approach.”

David Hunter, Chief Executive Officer of Ukash, explains: “Our aim is to provide a safe and secure environment for consumers to use cash electronically, and this relationship adds simplicity to our offer by enabling Standard Bank accountholders in South Africa to get Ukash vouchers. The e-cash market is the fastest growing sector in the payments industry across the world and we can see that Standard Bank leads the way for that in South Africa.”

Ukash empowers people worldwide to use cash electronically, irrespective of status, device or boundary, and is available at 420 000 retail locations.

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, Ukash has grown to more than 420 000 physical points of purchase, and is available in more than 50 countries around the world in six 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 lb500/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.

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.

The facts

* Ukash was established in 2001
* Ukash has grown to over 420 000 physical points of purchase
* Ukash is available in over 50 countries around the world, across six continents
* Ukash can be spent on 50 Web sites
* 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 Web site 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
* Ukash is the proud headline sponsors of the Prepaid Awards 2011

For more information please contact:

Leila Dukes
ING MEDIA
leila@ing-media.com
(020) 7247 8334

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