ClickandBuy, the popular online payments wallet, today launches its web cash service, giving users the ability to physically deposit and spend with cash online, at thousands of top brand websites, like - iTunes, Skype, Disney and BT.
Using cash online should be instantly familiar to millions who top-up their "Pay-As-You-Go" mobiles at convenience stores and newsagents up and down the country - as ClickandBuy has teamed up with payzone, the market leader in branded retailer payment outlets with 29,000 locations.
A question of security
Using a wallet like ClickandBuy is already one of the most flexible and safe ways to shop online. Financial details are kept hidden while shopping and users can pay in a multitude of ways - debit/credit card, bank direct debit or even charge to their BT phone bill. However, buying with cash goes one stage further and completely eliminates the need to enter personal card or bank account details online. Online shopping is now the fastest growing area of card fraud up 32% to £154.5m in 2006 (APACS - the UK Payments Association, 2007). This has grown steadily since the introduction of Chip 'n' Pin.
As simple as a mobile top-up
David Hunter, European MD at ClickandBuy said: "Using cash online is an obvious idea, but requires three vital ingredients - convenience, trust and critical mass. By copying the mobile top-up process and working with payzone we make it really convenient. We are fully licensed to issue electronic money, and have been trusted online by our users since 1999. And finally, we have a huge community of web retailers, which from today, are ready, willing and able to accept cash for the first time."
Expected to become the new pocket money
50% of teens already buy online, typically using their parents credit cards and often without permission. With ClickandBuy, parents are able to open an account for family members, set content restrictions and even set monthly spend limits, while allowing the freedom to top-up and spend responsibly without the chance of spending more than their available balance.