London, 28th March 2013 – David Hunter, Chief Executive of Ukash [Ukash│http://www.ukash.com] has welcomed the news of a formal regulator for the retail payments sector.
“As CEO of one of the UK's leading alternative payment services, I welcome this initiative with open arms. The Payments Council, perhaps due to its voting and membership being dominated by institutions resembling wounded dinosaurs, is failing consumers, innovation, and new market entrants.”
In particular, David Hunter believes e-money should be taken into account in any new regulation for the sector as it becomes an increasingly important component of the retail payments chain.
“As the e-commerce arena has grown in the past few years, so too has the means by which consumers can access it”, continued David Hunter. “But what has become clear is that consumers must be given the widest possible choice to interact – and that means including all social groups, including those who don’t wish to or can’t engage in conventional financial services tools such as bank accounts or credit cards.
“e-money services like Ukash provide a vital route to facilitating financial inclusion and should, therefore, have a say in the new regulation.”
About David Hunter
David Hunter, appointed Chief Executive of Ukash in January 2011, has led significant market growth for the global e-money network and internationally recognised e-commerce cash payment method. Achieving a remarkable 65% increase in year-on-year sales, Ukash now processes in excess of £500m eMoney transactions throughout the world. Under David Hunter’s leadership, Ukash has also secured a number of key partnerships to extend the reach of e-money to an ever widening consumer audience.
A champion of prepaid commerce, and in particular cash-based electronic money, David Hunter’s background in the online cash payment arena has been instrumental in the recent success of Ukash. His passion for breaking down the barriers for people to trade and buy online has also been fundamental in driving the strategic direction of the business.
In particular, David is keen to see Ukash increase its acceptance in economies that are cash-driven, where there isn’t a strong banking infrastructure or where there is a large community that does not have access to traditional banking and credit facilities, such as migrant communities. Ukash provides a solution for these consumers, enabling them to transact online and to be socially included, giving them access to the same benefits of online shopping as those with credit and debit cards enjoy.
For further information or interviews with David Hunter, please contact the Ukash press office at HSL on 0208 977 9132. firstname.lastname@example.org
Wendy Harrison, Jenny Thorneywork or Clare Watson.
Notes to Editors
Ukash is the Global e-Money Network and internationally recognised e-commerce cash payment method that enables consumers around the world to use cash to shop, pay and play online safely, securely and conveniently. This secure payment method was developed to protect personal identity and financial information when making online transactions, reducing the threat of credit and debit card fraud for consumers and repudiations and charge-backs for retailers. Ukash has no age limit, so consumers of all ages can make the most of safe payment online.
Ukash codes are purchased with cash in retail outlets such as shops, petrol stations and kiosks, and issued online from the company’s website. The unique 19 digit codes can then be used to pay directly on any of the thousands of websites that accept Ukash transactions worldwide, or loaded onto prepaid cards and e-wallets.
Established in 2001 under the holding company Smart Voucher Ltd, Ukash® has grown to more than 460,000 physical points of purchase, and is available in more than 50 countries around the world in 6 continents.
Ukash is regulated by the UK Financial Services Authority (FSA). The maximum single value allowed is £200/€250 or equivalent in other currencies, and the maximum amount that can be held by an individual customer is £1,000/€1,250 or equivalent in other currencies.
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