Global e-commerce payment method Ukash has revealed that its UkashOut card solution has recorded triple-digit transaction growth following its launch in August.
Ukash enables individuals to make online purchases using cash and provides freedom from credit and debit card fraud, repudiations and charge-backs while also protecting personal information.
The only solution of its kind available on the market, UkashOut has seen the take-up of cards grow month-by-month while load and unload transactions have risen by triple-digit percentages each month.
London-based Ukash stated that its UkashOut cards are issued to customers by gaming and gambling merchants, who benefit from increased loyalty as cardholders are directed back to these sites every time they top-up.
UkashOut was launched with international partner ChiliPoker.com but has now been rolled out to a wider customer base.
“For a long time we have wanted to offer a debit card that allows customers to withdraw and deposit cash directly from a ChiliPoker.com account,” said Alex Dreyfus, Chief Executive Officer for ChiliPoker.com.
Backed by MasterCard, the solution is the most convenient way of processing payouts and provides merchants, particularly those who already accept payments through Ukash, with a reliable and hassle-free integrating mechanism. Cardholders enjoy faster payouts and the convenience of having a MasterCard product, which can be used at ATMs and mainstream points of sale.
“We are delighted but hardly surprised by the success of UkashOut,” said Mark Chirnside, Chief Executive Officer for Ukash.
“We studied the market carefully before we came up with the most convenient and reliable solution possible and were always confident that UkashOut would exceed the expectations of the industry and customers. UkashOut has major benefits to merchants, cost-effectiveness and reliability being the key ones, and we expect the growth to continue.”