Fac And Ukash Extend Partnership

Hamilton, Bermuda and London, UK

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 FACs 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 globally-recognized 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 FACs 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 merchants 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, PCI-certified 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 other emerging markets that require alternative, non-card 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.

by: First Atlantic Commerce

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