Developing Telecoms | Online payments specialist expands Latin American operations

23 May 2012

Development Agenda

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Online payments specialist expands Latin American operations

Monday, 14 February 2011 01:00 | James Barton

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Customers in Argentina and Brazil will soon be able to make domestic and international online payments, following the announcement that global eMoney network Ukash is expanding its footprint into these countries.

The launch should provide a boost to Ukash’s existing international merchants wishing to tap into the continent’s two largest economies - where card penetration is typically low, and where international payments can often prove problematic.

By extending its presence in Latin America, (Ukash successfully operates now in Uruguay, Colombia, Mexico and Bolivia) Ukash is delivering one of its key priorities for 2011 – namely, to capitalise on the growth of e-commerce in this rapidly growing region.

In Argentina, Ukash vouchers are now available from shops in major towns and cities including Buenos Aires, Córdoba and Mendoza. All locations will be listed on the Ukash website. Vouchers are issued in US Dollars (USD) in values of $20, $50, $100 and are delivered as a printed receipt and simply redeemed at participating merchant sites. The customer pays in Peso (ARS) and all vouchers are valid for 12 months.

In Brazil, Ukash vouchers are now available at Ukash's Latin American website using the popular local bank scheme, Boleto Bancario. Consumers register online and order Ukash in the values of 25, 50, 100 USD. They then settle in cash at one of many thousand locations nationwide to obtain their Ukash vouchers.

David Hunter, Chief Executive Officer at Ukash, said: “We are rapidly building our presence in Latin America and adding these significant markets to our growing portfolio is another step in the right direction. Ukash has been well received there, and we are keen to maintain the momentum. Argentina and Brazil are two of the region’s fastest growing territories and we look forward to building a customer base in both countries that will benefit from the simplicity and global appeal of Ukash.”

Ukash empowers people worldwide to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations. Globally, Ukash is active in more than 50 countries.

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