FAC teams up with Ukash for alternative payment options in Europe and emerging online consumer markets
First Atlantic Commerce and Ukash join together to offer online merchants the ability to accept riskfree cash payments
Hamilton, Bermuda and London, UK. September 16, 2009. First Atlantic Commerce (FAC), a leading, international, multicurrency online payment and risk management solutions provider, and Ukash, a leading online cash payment solution, have teamed up to offer Ukash payment options to FAC’s merchants in the Latin American Caribbean Region, UK and Europe.
Ukash, which is regulated by the UK Financial Services Authority (FSA), combines the timeless simplicity of cash with the benefits of the internet to create a simple and unique payment solution that allows consumers to buy securely, anonymously and privately online.
FAC, a secure, PCI certified payment gateway that offers a range of payment options to its merchants including Visa, MasterCard, American Express and PayPal, has added Ukash to its payments platform, which means that FAC merchants can now easily accept riskfree cash payments on their website.
The move gives merchants access to, and retention of, new consumer markets including customers that do not want to disclose their financial details online, and those that do not have access to credit and debit cards.
Ukash has become a globallyrecognised payment method that enables online transactions using cash. Merchants benefit from accepting Ukash because the system opens up new consumer markets, while offering freedom from credit and debit card fraud, repudiations and chargebacks.
FAC merchants can now access Ukash together with PayPal and a range of card brands for credit card processing through a single interface.
Andrea Wilson, FAC’s Chief Executive Officer, said: “We are excited about the addition of Ukash to our payments platform. First Atlantic Commerce continually strives to add value for our merchants, and this integration will give them an additional option for their customers to make online payment for goods and services. It also enables merchants to access additional and alternative payment options in emerging markets like Brazil, Uruguay, Russia and Poland.”
Mark Chirnside, Chief Executive Officer at Ukash, said, “The mission for Ukash is to make online shopping available to anybody, anywhere in the world and this deal with FAC is the next step towards realizing that goal. FAC works across a broad range of exciting sectors on a truly global scale so being added to FAC’s payment platform will make Ukash available to thousands of new merchants who can then enable their customers to enjoy the benefits of using cash to shop, pay and play online.”
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 AVS, CVV2/CVC2/CID, 3D Secure™ and IP Geolocation in multiple jurisdictions across Europe, Asia and the Latin American Caribbean Region. For more information, please visit www.firstatlanticcommerce.com.
Ukash® is a globallyrecognised ecommerce payment method to enable online purchases using cash, providing freedom from credit and debit card fraud, repudiations and chargebacks, 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.
Uniquely numbered Ukash® vouchers are widely available through payment terminals in retail outlets across Europe and South Africa. And from spring 2009, Ukash vouchers will also be issued online from the company’s website in most European territories.
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
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