Ukash, the Global eMoney network, has announced the launch of the UkashOut MasterCard®, which enables consumers to convert their electronic money back to cash safely and securely.
UkashOut MasterCard® closes the loop on eMoney payments
With UkashOut MasterCard®, consumers can "close the loop" on eMoney payments by loading their cash onto a UkashOut MasterCard® using their Ukash vouchers.
Consumers can use the prepaid, reloadable card to get cash out from any ATM with the MasterCard® logo. The card can also be used anywhere that MasterCard® is accepted.
The UkashOut MasterCard® can only be bought and loaded with Ukash vouchers, which can be obtained with cash from over 420,000 points of sale across six continents. It is available in either GBP, US$ or Euros and customers are able to hold one UkashOut MasterCard® per currency.
For maximum security, customers must complete a full KYC (Know Your Customer) process to obtain the UkashOut MasterCard® by post, and must activate it before using.
David Hunter, Chief Executive Officer of Ukash, said, "The UkashOut MasterCard® completes the cycle for using cash online, from uploading, to spending, to converting eMoney back to cash. The benefits are widespread: it's faster, convenient and lets consumers keep track of their spending, budget more wisely and shop from more retailers."
The development of UkashOut MasterCard® follows last year's launch of Ukash PayOut, whereby online credit could be returned to the consumer in the form of a voucher.