GlobalData Regulatory News (DATA)

12 Dec 2005 07:00

Datacash Group PLC12 December 2005 DataCash Group Plc: Epic: DATA / Index: AIM / Sector: Support Services 12 December 2005 DATACASH GROUP PLC ('DataCash' or 'the Company') Partnership with Ukash DataCash Group Plc, the AIM listed independent payments service provider, hasadded a cash alternative to its portfolio of payment services for merchantstrading online. The service, Ukash, is aimed at merchants whose customers donot have a debit or credit card or simply do not wish to use their cards foronline payments. The partnership with Ukash means that DataCash can now offer its merchants theability to accept cash payments online. Customers simply exchange their cashfor a Ukash voucher at any one of 14,000 Ukash issuing locations across the UKand then redeem their voucher online as payment against the purchase of goodsand services by using the unique Ukash voucher reference number. Integration of the service is simple via the DataCash API. Once integrated,merchants can show that they accept the Ukash payment brand by displaying thedistinctive Ukash logo on their website alongside their existing payment types.Consumers simply enter the unique 19-digit number from their Ukash voucher whenthey are asked to pay. According to research carried out by Ukash, UK retailers are losing almost £8billion per year by failing to accept cash payments for online transactions.This would represent an increase of at least 43% on the current level of onlinesales of £18.3 billion, which translates into a significant amount of lostbusiness to individual retailers. Gavin Breeze, DataCash Business Development Director said: "Multi-channelretailing is evolving all the time and merchants are mindful of the changingbehaviours of consumers as well as the growing number of payment optionsavailable. Not all consumers wish to pay by credit card, even if they have themat their disposal. For example, some people are still wary of using theInternet as a means of buying goods. Also, you may wish to avoid having an itemappear on your statement if it spoils a surprise, such as a gift for yourpartner." Justin Lunny, Ukash Director of Sales & Business Development said: "Ukash isvery pleased to be working with DataCash. The partnership will enableDataCash's significant base of leading e-commerce merchants to accept paymentfrom a far broader range of consumers with Europe's market leading online cashpayment brand." ** ENDS * * Contacts: Gavin Breeze DataCash Group Plc Tel: 0870 7274760 Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477 DataCash - www.datacash.com DataCash provides outsourced solutions for the authorisation, settlement andfraud management of credit and debit cards as well as direct debits, directcredits and cheques. DataCash's fraud management solutions support industryinitiatives such as 3-D Secure (Verified by Visa and MasterCard SecureCode) aswell as rules-based fraud screening. Transactions are accessible to merchantsthrough a real-time MIS Reporting suite. DataCash's solutions are suitable for merchants selling through any channel,including High Street Point of Sale, the Web, Interactive TV, Kiosk, Call Centreand Interactive Voice Response. DataCash works with partners, such as IBM, toprovide mid-tier retailers with Cardholder Present Chip and PIN solutions. Ukash - www.ukash.com Ukash is an innovative new e-commerce payment brand for cash consumers whichallow online purchases to be made securely without a credit or debit card.Ukash vouchers are available at over 14,000 outlets nationwide and can be usedat a growing number of websites to purchase goods or services. Ukash appeals toconsumers concerned by card fraud and identity theft and from the onlinemerchant's point of view, payment by Ukash reduces the risk of repudiation.Ukash offers greater choice to the consumer and an excellent opportunity toreach new market segments for online merchants. This information is provided by RNS The company news service from the London Stock Exchange