Founded in 2005, Ukash is a UK-based electronic money system that allows users to exchange their cash for a secure code to make payments online. The system is authorised and regulated by the UK's Financial Conduct Authority.
The system allows users to exchange their cash for a secure code. The code is then used to make payments online, to load cards or e-wallets or for money transfer. Codes are distributed around the world by participating retail locations, kiosks and ATMs.
In June 2014 Ukash launched the Ukash Travel Money Prepaid MasterCard, a reloadable prepaid MasterCard for euros and U.S. dollars that can be used anywhere that accepts MasterCard.
How Ukash works?
Ukash users are given a unique 19-digit code representing their prepaid money; this is entered when making a transfer, payment or purchase online. If the purchase is less than the value of the code a new 19-digit code is provided, just like change in an offline cash transaction.
Read more about:
Casino Banking News