UKash Casino Banking Method Shows Big GrowthBy: Joan Peppin, Thursday July 2nd 2009
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There is an increasing trend of wanting to fund online casino accounts using cash. In many European countries like the Netherlands and Belgium online players are constrained to wager at the state owned online casino. Wagering at offshore privately owned online casinos is, if not illegal, at least discouraged. Therefore residents of these countries do not want online casino financial transactions to appear in official records like bank statements and credit card statements. Many players fear identity theft and therefore are averse to using credit cards online. Another reason why some online players would prefer cash transactions is because they may be closet online gamblers. However cash cannot be remitted through the Internet. This is where Ukash steps in.
Ukash is a product of Smart Voucher Ltd. It has evolved a business model that allows players to pay even small amounts of cash at retail outlets in exchange for a 19 digit code that can be transmitted electronically to online casinos. That code contains the amount purchased by the player and also allows the online casino to recover the amount from Ukash. Thus the player at no point of time needs to use a bank account or credit card. The problem that one can envisage with this is the inconvenience that would be experienced by the player in paying cash to Ukash. No player would want to travel far from his home or out of the way in order to make this remittance. Ukash has solved this problem in an ingenious but simple way.
In the United Kingdom Ukash has tied up with conveniently located retail outlets such as corner shops, post offices, news stands and petrol stations across the country. Players therefore would not have to travel inconvenient distances in order to reach these outlets. Also the outlets bear PayPoint, payzone or e-pay signs so that they can be easily identified. In addition to this Ukash vouchers can be obtained via mobile phones by Vodafone subscribers in the United Kingdom. In other European countries Ukash has tied up with other partners. In Spain Ukash vouchers can be obtained from 6,000 post offices, Telecor and Recarga Express outlets and from traditional telephone kiosks operated by the telecommunications giant Telefónica. In Portugal Ukash vouchers can be obtained from more than 3,700 payshop retailers, supermarkets, kiosks and stationers. In France Ukash vouchers are available from more than 15,000 points of sale across the country. In all Ukash as more than 275,000 global outlets in countries such as Belgium, France, Germany, Ireland, the Netherlands, Poland, Russia, Slovenia, South Africa, Spain, Sweden and the United Kingdom. The entire operations are run like clockwork through the use of patented operating systems.
In a different kind of business model you Ukash is now set to top up pre-paid cards issued by reputed credit card companies using cash. This will give comfort to those players who are uneasy at using the existing Ukash codes and would like the backing of the reputed credit card companies without the attendant risk. In this respect Ukash has announced a deal with MasterCard that will allow consumers to load cash onto their MasterCard and Maestro prepaid cards at Ukash locations.
Thus by capturing that segment of the online gaming market which prefers to pay by cash, Ukash has registered extraordinary growth in a short space of time and shows no signs of slowing down.
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