GlobalCollect Now Enables Merchants to Accept Cash Payments Online

With the addition of new prepaid solutions Ukash and paysafecard into GlobalCollect’s already very extensive payment processing portfolio, GlobalCollect now enables online merchants to reach a new and large category of never before reached shoppers.

GlobalCollect, the leading international payment service provider today announced the successful integration of Ukash and paysafecard, two popular prepaid solutions, into its online payment platform WebCollect. Cash is still the only purchasing power for those who do not possess a card or a bank account such as young online shoppers. These prepaid solutions are also targeting shoppers who do not want to disclose payment details online due to fears around identity theft and security or those who desire anonymity and discretion.

Prepaid solutions are typically available either as a physical card or a voucher system. Buying Ukash or paysafecard can be done through a large network of participating purchase points. Ukash, primarily available as a voucher, can be purchased at 120,000 physical outlets operating in the United Kingdom, Germany, Ireland, and Spain rollout offering coverage of 75% of continental Europe by Quarter 1 of 2007 (online and offline vouchers will be available). Meanwhile, paysafecard can be purchased in Germany, Austria, Greece, Spain, Slovakia, and Slovenia and has a proven track record with estimated EUR 100 million transaction volume in 2006. By the end of 2006, paysafecard will be also available in the UK, Ireland, France and Italy. In addition, paysafecard can also be purchased online.

Both companies possess the required licenses from local banking supervision authorities and enable a maximum online cash transaction of 500 GBP/EUR 750 as standard for Ukash and 1000EUR for paysafecard. In addition, Ukash is capable of offering up to GBP 1000/EUR 1500 per issued voucher for larger strategic issuing partners under their EU-wide regulatory authority.

Michael Muller, CEO of paysafecard says: “paysafecard is very popular amongst several industries and in particular amongst online game websites. Making easy and secure online payments without revealing bank or credit card details online is the reason of our success. The cooperation between GlobalCollect and paysafecard, Europe’s most popular prepaid card for the Internet, makes it possible for many popular websites to accept payments for online shoppers without a credit card or not willing to use it online.”

Mark Chirnside, CEO at Ukash points out: “The potential for merchants to reach cash markets across the EEC through the high availability of the Ukash product is unrivalled today and with the added dimension of the partnership with GlobalCollect, extends the reach across our leading role in multiple segments to new offline and online shoppers who need or prefer non credit card spending options.”

Jan F. Manten, CEO of GlobalCollect says: “GlobalCollect’s vision is to make sure none of the merchants using our services miss a single sale due to their customers not being able to pay with their preferred payment method. With the addition of the Ukash and paysafecard solutions, GlobalCollect is further strengthening its leading position in the online electronic payment industry with the largest payment method portfolio.”