Datacash Group PLC
12 December 2005
DataCash Group Plc: Epic: DATA / Index: AIM / Sector: Support Services
12 December 2005
DATACASH GROUP PLC ('DataCash' or 'the Company')
Partnership with Ukash
DataCash Group Plc, the AIM listed independent payments service provider, has
added a cash alternative to its portfolio of payment services for merchants
trading online. The service, Ukash, is aimed at merchants whose customers do
not have a debit or credit card or simply do not wish to use their cards for
online payments.
The partnership with Ukash means that DataCash can now offer its merchants the
ability to accept cash payments online. Customers simply exchange their cash
for a Ukash voucher at any one of 14,000 Ukash issuing locations across the UK
and then redeem their voucher online as payment against the purchase of goods
and services by using the unique Ukash voucher reference number.
Integration of the service is simple via the DataCash API. Once integrated,
merchants can show that they accept the Ukash payment brand by displaying the
distinctive Ukash logo on their website alongside their existing payment types.
Consumers simply enter the unique 19-digit number from their Ukash voucher when
they are asked to pay.
According to research carried out by Ukash, UK retailers are losing almost £8
billion per year by failing to accept cash payments for online transactions.
This would represent an increase of at least 43% on the current level of online
sales of £18.3 billion, which translates into a significant amount of lost
business to individual retailers.
Gavin Breeze, DataCash Business Development Director said: "Multi-channel
retailing is evolving all the time and merchants are mindful of the changing
behaviours of consumers as well as the growing number of payment options
available. Not all consumers wish to pay by credit card, even if they have them
at their disposal. For example, some people are still wary of using the
Internet as a means of buying goods. Also, you may wish to avoid having an item
appear on your statement if it spoils a surprise, such as a gift for your
partner."
Justin Lunny, Ukash Director of Sales & Business Development said: "Ukash is
very pleased to be working with DataCash. The partnership will enable
DataCash's significant base of leading e-commerce merchants to accept payment
from a far broader range of consumers with Europe's market leading online cash
payment brand."
** ENDS * *
Contacts:
Gavin Breeze DataCash Group Plc Tel: 0870 7274760
Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477
DataCash - www.datacash.com
DataCash provides outsourced solutions for the authorisation, settlement and
fraud management of credit and debit cards as well as direct debits, direct
credits and cheques. DataCash's fraud management solutions support industry
initiatives such as 3-D Secure (Verified by Visa and MasterCard SecureCode) as
well as rules-based fraud screening. Transactions are accessible to merchants
through a real-time MIS Reporting suite.
DataCash's solutions are suitable for merchants selling through any channel,
including High Street Point of Sale, the Web, Interactive TV, Kiosk, Call Centre
and Interactive Voice Response. DataCash works with partners, such as IBM, to
provide mid-tier retailers with Cardholder Present Chip and PIN solutions.
Ukash - www.ukash.com
Ukash is an innovative new e-commerce payment brand for cash consumers which
allow online purchases to be made securely without a credit or debit card.
Ukash vouchers are available at over 14,000 outlets nationwide and can be used
at a growing number of websites to purchase goods or services. Ukash appeals to
consumers concerned by card fraud and identity theft and from the online
merchant's point of view, payment by Ukash reduces the risk of repudiation.
Ukash offers greater choice to the consumer and an excellent opportunity to
reach new market segments for online merchants.
This information is provided by RNS
The company news service from the London Stock Exchange
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