Ukash changes name to paysafecard

Following the acquisition of Ukash by paysafecard earlier this year, Ukash is switching to paysafecard. paysafecard, the global market leader in prepaid online payment methods and member of the international Skrill Group, announces that from 31st August 2015 onwards, Ukash vouchers will be replaced by paysafecard vouchers at retailers across the UK.

Paysafecard has already been available in the UK for many years and offers a wide range of advantages such as innovative online accounts and 24/7 customer service in several languages. Ukash vouchers will still be accepted for redemption at online shops until 31st October 2015.

Paysafecard offers a secure and fast prepaid payment solution for online digital goods and services. There is no need to enter personal information, bank or credit card details when paying at an online shop. With paysafecard, retailers and partners attract consumers who want to benefit from the extensive offerings and global presence of paysafecard as well as the greater choice of thousands of online shops where paysafecard is accepted. The product is available worldwide at over 500,000 sales outlets in 40 countries. The company paysafecard is known for its innovative solutions and the diversity of additional services like the mobile app and round the clock assistance in a wide range of languages from the customer service team. Therefore, switching from Ukash to paysafecard has many advantages for both customers and retailers alike.

A comprehensive campaign has been launched to ensure that retailers currently selling Ukash and consumers holding Ukash vouchers are aware of upcoming changes. This includes messages on the Ukash website and in direct marketing campaigns. Also, a retailer engagement programme is being undertaken throughout August to provide outlets with new point of sale merchandise and information about paysafecard for their customers.

A consumer promotion is also being launched in August offering current Ukash customers the chance to try out the paysafecard service with a free £5 paysafecard PIN.

Udo Müller, CEO of paysafecard, comments: “The acquisition of Ukash has given us the opportunity to expand the choice for consumers wanting to make secure online payments. We have brought together the best of the prepaid technologies from both Ukash and paysafecard to give consumers a safe and easy way to make online payments and we are now embarking on a nationwide campaign to ensure the retailers and users are aware of the changes taking place.”

Ukash CEO David Hunter, steps down as Skrill completes takeover

David Hunter has stepped down as Chief Executive Officer of Ukash after online payment processor Skrill Group completed its previously agreed acquisition of the online cash payments provider.

Skrill first struck a deal to acquire Ukash late last year as part of an effort to boost its paysafecard pre-paid payment service.

Skrill has now completed the deal and will now take ownership of the online cash payments provider.

As a result of the agreement, Hunter, who has served as chief executive officer of Ukash for the last five years, will step down from the role and will now take up a number of non-executive positions with a number of businesses.

David Sear, chief executive officer of Skrill, said: “This is an exciting acquisition that will considerably extend our reach in the high-growth prepayment market, enabling us to support consumers and online businesses alike with the world’s largest online cash replacement payment method.

“I’d like to thank David Hunter, who has been instrumental in the growth of Ukash, which will be integrated with paysafecard.

“As we move towards our combination with Optimal Payments, paysafecard will continue to be a key part of our strategy and of our offering to our customers.”

Skrill Group announces it has completed its acquisition of Ukash

This deal, which was announced in November 2014, extends the scale and reach of Skrill Group’s paysafecard, further enhancing its position as Europe’s most popular, proven and secure prepaid payment solutions for purchasing online.

Since its launch in 2000, paysafecard has provided a way for consumers to get cash online and is widely accepted across a growing number of online industries including online games, social media channels and entertainment sites. It became part of Skrill Group in 2013 and has consistently grown its network of distributors to now consist of more than 480,000 outlets across 39 countries. In 2014, the number of transactions using paysafecard worldwide increased by 26% to over 86 million, equating to 162 uses per minute, highlighting how paysafecard has become an indispensable part of the digital world of today. In combination, paysafecard and Ukash will expand digital payments across both established and emerging markets.

David Hunter, who held the position of chief executive officer at Ukash for five years, is to step down from the company following the completion of the sale. He will take up a number of non-executive positions with a portfolio of businesses.

David Sear, chief executive officer of Skrill Group, commented, “Ukash is a shining example of British business. This is an exciting acquisition that will considerably extend our reach in the high-growth prepayment market, enabling us to support consumers and online businesses alike with the world's largest online cash replacement payment method. I’d like to thank David Hunter, who has been instrumental in the growth of Ukash, which will be integrated with paysafecard. As we move towards our combination with Optimal Payments, paysafecard will continue to be a key part of our strategy and of our offering to our customers.”