With the proliferation of e-payment solution providers there is much jostling for market share. One such vendor is Ukash, which seems to be moving ahead of the pack. Close on the heels of announcing its tie up with MasterCard for UkashOut, Ukash has announced another tie up. This time with US based PayByCash.
PayByCash has a portfolio of over 70 payment options that are accepted by over 200 online merchants including online casinos. Players who want to use one of the PayByCash supported options first click on the PayByCash link at the online casino. They are then taken to the PayByCash page where they can use any of the options supported by PayByCash. This now includes Ukash. Players select Ukash and enter the 19-digit number that is given on their prepaid Ukash voucher. Players who use this option have to pay a small service charge to PayByCash. But the use of the Ukash prepaid voucher more than compensates for this. In the first place a prepaid voucher means that the player is not wagering with borrowed money and therefore is bound to exercise more restraint. Further it eliminates the risk of identity theft.
PayByCash is advantageous for online casinos as well. Through a single link they can offer players a large number of options and this enables them to retain their customers. In a highly competitive industry the value of being able to retain customers is immense. Ukash will also benefit from the tie up with PayByCash because it will increase its reach to wherever PayByCash is accepted and that means to many more online casinos. Though PayByCash is based in the United States it is very active in the European online gaming market. Mark Chirnside, the Chief Executive Officer of Ukash, expressed his happiness at partnering an active global payment service like PayByCash. He added, “This agreement gives our customers in Europe the choice to use Ukash at a great range of merchants, including some of the most popular online games and communities.”
Ukash has registered a 140% growth in sales in the last year, which is a stupendous achievement given the troubled economic situation. Its prepaid vouchers can be purchased at 275,000 retail locations across Europe and South Africa, via mobile phones in the United Kingdom and also online in most countries. It was this growth that attracted Ukash to PayByCash. Kevin from PayByCash feels that Ukash will be a popular option for its own clientele, especially among the younger set. At the same time the existing customers that Ukash will bring to the table will benefit from PayByCash’s services.