Latest figures from the innovative online payments system Ukash reveal that its pre-paid UkashOut card solution has recorded triple-digit transaction growth since August 2009 - an impressive feat over a six month timespan.
UkashOut is a card extension to the company's original service, which enabled online users to pay cash for vouchers from retail outlets, receiving secure voucher codes for use in online purchases and deposits in a number of sectors, including online gambling. This ingenious concept provides freedom from credit and debit card fraud, repudiations and charge-backs while also protecting the personal information of the user.
The introduction of the prepaid UkashOut card was hailed as an innovative and straightforward way for operators to pay their customers, at the same time enabling the winning players to access their funds in a quick and easy way, regardless of how the original wager deposit was made.
The introduction of UkashOut has seen the take-up of cards develop rapidly, while load and unload transactions have risen by triple-digit percentages each month. UkashOut cards are issued to customers by gaming and gambling merchants, who benefit from increased loyalty as cardholders are directed back to these sites every time they top-up. Other operator advantages include reduced use of costly cheques, bank transfers and other traditional payout methods.
UkashOut is backed by MasterCard, offering users the convenience of widespread ATMs. In practical terms, the cardare issued by operators directly to customers, who then select the value they want to see withdrawn from their gaming account to the card. The cash is available for withdrawal almost immediately at an ATM or for use anywhere MasterCard is accepted, both offline and online worldwide.
ChiliPoker.com pioneered the use of the card in the gaming industry, working closely with UkashOut and initially issuing the cards to VIP customers free of charge. By adopting UkashOut, Chilipoker - which targets high rollers in 30 countries - enhanced its customer service and attracted new customers, increasing its retention rate.
UkashOut uses the existing Ukash integration, reducing the need for seperate resources and time, and making the adoption process easier through using a simple technical interface and a managed service.
Alex Dreyfus, Chilipoker CEO, said: "Our company's brand has been growing among thousands of VIP players, thanks in particular to our ability to offer $16 million dollars in tournaments every month along with premium services like personalized reward programs, a store, plus free statistical tools and customer assistance.
"For a long time we have wanted to offer a debit card that allows customers to withdraw and deposit cash directly from a Chilipoker account. This project has finally come to fruition thanks to Ukash and Mastercard."
Mark Chirnside, CEO of Ukash, commenting on the impressive six month growth of the new UkashOut business, said: "We are delighted but hardly surprised by the success of UkashOut. We studied the market carefully before we came up with the most convenient and reliable solution possible and were always confident that UkashOut would exceed the expectations of the industry and customers. UkashOut has major benefits to merchants, cost-effectiveness and reliability being the key ones, and we expect the growth to continue."