Ukash, the world's fastest growing online cash-payments company, has become the first online cash mechanism to launch in Russia after signing a deal to make its vouchers available at more than 100,000 physical points of purchase through leading electronic payment brand Qiwi.
This partnership with QIWI means that Ukash is now available from 420,000 physical points of purchase in 30 countries globally and Ukash will use its cash collection network to work in partnership with leading online wallets to provide consumers with a choice of ways to pay online.
QIWI, which operates in key markets including Russia, Ukraine, Georgia and Kazakhstan, is a market leader in electronic payment systems, and its network of terminals accept payment in cash for a range of electronic services such as mobile top-up, bill payment, transport ticketing, entertainment and loading wallets.
The new service, which is delivered through Ukash partner O2, will enable consumers to pay with cash at any QIWI kiosk and receive a Ukash voucher as a text message on their mobile telephone, which will be available in values of 10.00€ - 500.00€. Customers pay in Ruble banknotes and receive Ukash in Euro, with the value being calculated based on the day's exchange rate.
Mark Chirnside, Chief Executive Officer, Ukash, said: "We have recently expanded our distribution network in Russia with several partners including WalletOne, RBKMoney and Xplat, and this new addition of 100,000 physical points of purchase is very significant for Ukash. QIWI is the market leader in this territory and we are confident that our partnership will be beneficial to both parties as we look to attract new customers to Ukash. In wider terms, our global physical issuing network is now 420,000 and this is testament to the continued international demand for Ukash."