First Atlantic Commerce expands UKASH integration to include multicurrency voucher issuing, and full and partial voucher redemption functions
FAC and Ukash extend their partnership to better serve merchants in emerging markets
Hamilton, Bermuda and London, UK. June 8, 2010. First Atlantic Commerce (FAC), an international, online payment and risk management solutions provider, and Ukash®, a global online alternative cash payment provider, today announced the addition of new Ukash processing services including multicurrency voucher issuing, and full and partial voucher redemptions via FAC’s platform.
The companies teamed up in September 2009 to offer online merchants full value voucher redemption payment methods in Europe and emerging online consumer markets. Ukash is a globallyrecognized alternative payment method that allows consumers to shop, pay and play online safely with cash. FAC is now able to accept vouchers that are issued from physical Point of Sale (POS) terminals and online issued vouchers, enabling the service across both Card Present and Card Not Present networks.
“This is a significant product release for FAC, providing a fully integrated and secure alternative payments solution for both physical retailers selling Ukash through a POS system and Internet merchants who wish to offer Ukash as a payment method,” said Chris Burns, SVP Business Development at First Atlantic Commerce. “We expect the Ukash payment brand to expand rapidly in the South American and Mexican markets where demand for risk free payment solutions by consumers is growing exponentially.”
Ukash, which is regulated by the UK Financial Services Authority (FSA), combines the timeless simplicity and risk free nature of cash with the benefits of FAC’s payment platform to create a simple and unique payment process that allows consumers to buy securely and privately online.
Ukash can be purchased with cash via the physical POS estate and online via bank transfer. Vouchers can also now be redeemed instantly online at participating merchant sites. Partial voucher redemptions are processed with the remaining voucher balance issued back to the consumer as a new Ukash ‘change’ voucher, in the currency of the merchant’s business.
Merchants benefit from accepting Ukash because the service opens up new consumer markets, while offering freedom from credit and debit card fraud, and chargebacks.
FAC, a secure, PCIcertified payment gateway, offers a range of credit card processing and alternative payment options to online merchants across the Latin American Caribbean Region, UK and Europe. Ukash vouchers can now be purchased in Latin America and otheremerging markets that require alternative, noncard based payment solutions for their consumers and unbanked communities.
FAC has developed its payments platform to include various alternative payment methods in addition to its core online card processing services. FAC merchants can access Ukash together with multicurrency acquiring, global check issuing services, Electronic Funds Transfer (EFT) and a range of card brands for card processing through a single, secure interface.
For more information on how you can start accepting Ukash via FAC’s platform, contact FAC at info@fac.bm
About First Atlantic Commerce
First Atlantic Commerce (FAC) is a leading Internet, multicurrency payment and fraud risk solutions provider. Headquartered in Bermuda, and established in 1998 to create secure cardbased payment solutions for ebusinesses, FAC’s cGate® technology offers service, flexibility and security to adapt to many business and bank acquirer requirements.
FAC provides merchants with multicurrency payment solutions in addition to fraud and data management services including AVSonly, CVV2/CVC2/CID verification, and 3D Secure™ in multiple jurisdictions across Europe, Asia and the Latin American Caribbean Region. For more information, please visit www.firstatlanticcommerce.com.
About UKASH
Ukash® is a globallyrecognised ecommerce payment method to enable online purchases using cash, providing freedom from credit and debit card fraud, repudiations and charge backs, and protecting personal identity.
Ukash® is regulated by the UK Financial Services Authority (FSA) and operates as one of only a small number of Electronic Money Institutions, a status that allows a single maximum online cash payment transaction of up to £500/€750.
The technology behind Ukash is protected by several patents registered across the Smart Voucher database and functionality and is, as such, protected by Patent Law in all the major economies of the world. Ukash® is a registered trademark of Smart Voucher Ltd.
In 2008, Ukash® established a strategic partnership with South African payments giant Blue Label Telecoms to develop the brand’s services. For more information please visit www.ukash.com
Media Contacts
First Atlantic Commerce
Tricia Lines Hill – VP Marketing & Corporate Communications
Tel: 1.441.294.4625
Email: tlineshill@fac.bm or press@fac.bm
UKASH
Libby Andrews
ING MEDIA
+44 (0) 20 7392 1992
libby@ingmedia.com
