Friday, 2 November 2007

cashU Partners With Ukash For European Expansion

This has got to be one of the greatest online partnerships in history for my unbankable crowd (online users who still spend cash money).

Just announced, cashU, which is the largest Internet payment system in the Middle East and Africa has shaken hands and partnered with Ukash which is Europe’s leading cash-based online pre-payment company. I’ve written about cashU just recently and Ukash has also been making digital currency headlines in a beneficial partnership with Webmoney.

The great news here is that Ukash has tens of thousands of locations (120k+) across Europe including the UK, Ireland, Spain, Germany and the Netherlands. At any of these locations a person can walk in with cash and purchase one of their vouchers which will spend online or fund an online product account. In this case, cashU would be the convenient online product which is receiving the cash funding.

cashU has a massive reseller network that stretches across North Africa and the Middle East from Morocco to Iran. This merging of business products and brand synergy should offer new expanded options and additional online shopping for a few million new customers.

In a brief statement, Martin Waldenström, General Manager for cashU had this to say, “I’m very excited about the new partnership between cashU and Ukash. With over 120,000 payment/purchase terminals, Ukash has a high density retail penetration in Europe, and is of great advantage to cashU account holders.”

Ukash is already accepted by Webmoney making this digital currency accessible to millions of cash users across Europe.

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