Ukash is an electronic money payment method that enables you to purchase goods and services online with a secure code. You convert cash into a UKash code to make payments online. UKash is authorised and regulated by the UK’s FCA (Financial Conduct Authority).
UK ash codes can be obtained at shops, kiosks and ATMs around the world.
In early 2015 Ukash was bought by the Skrill Group. The Ukash online cash voucher system will be replaced with paysafecard, which is also owned by Skrill. UKash vouchers can be used up until 31st October 2015..
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UKash is pretty well distributed. Since it’s absorption into paysafecard, we expect this payment method to drop out of circulation by the end of 2015. If you are a new user looking for a cash to voucher code system, we’d recommend signing straight up with paysafecard.
Some background on UKash
UKash was chaired by Ashley Head, who is now Chairman of Datacash- a division of Mastercard. This was following the purchase of his online payments company: Procyber, closely connected with Microgaming.
This global electronic money network, enabled players to play online roulette safely and securely using cash, while protecting your personal and financial information when making payments over the Internet. It was at the forefront of the fight against credit and debit card fraud for players and the problems associated with charge-backs for online casinos.
Set up in 2001 under Smart Voucher Ltd, Ukash expanded to a network of almost 500,000 physical points of purchase, and was available in more than 50 countries. In 2008, Ukash teamed up with South African payments company Blue Label Telecoms – (Microsoft are a shareholder) – to develop the company.
Ukash was regulated by the UK’s FSA (Financial Services Authority). The maximum online cash payment transaction was £500 or €750.
Unique Ukash vouchers could be purchased through payment points across Europe, South Africa, South America, Canada and Australia.