PayPoint Romania, the main retail-based cash and mobile payment operator in Romania, has signed an agreement with Ukash, the international e-money market leader, to enable consumers across the country to use cash to make payments online. Ukash works by exchanging notes and coins for a voucher containing a unique code which is entered on a website when making a purchase.
It operates in a number of consumer markets, including shopping, gift cards and online entertainment, and can be used to pay on thousands of websites worldwide safely and conveniently.
Romanian consumers will be able to purchase Ukash vouchers at any of PayPoint's 7,000 terminals in neighbourhood stores across Romania.
The value of online transactions in Romania increased by 24% in 2011 to 158.9 million Euros*, making this a huge growth market. However, consumers in Romania remain reluctant to use credit or bank cards when transacting online. An estimated 75% of online shopping and spending is actually completed using alternatives to card payments. The facility to be able to convert cash to Ukash in order to be able to shop online is, therefore, an important initiative to support the growth of e-commerce in Romania.
"Ukash is a very real alternative to paying online by credit or debit card, allowing people to use cash online without having to reveal their personal financial information," explains David Hunter, chief executive of Ukash. "It is the ideal solution for anyone concerned about online fraud or those without a bank or credit card, allowing them to pay and shop online at thousands of locations globally.
"Our partnership with PayPoint gives us an established network of terminals across Romania, helping Ukash establish itself as a leading e-commerce payment provider in this growth market and enabling Romanian consumers to make online cash payments for a range of consumer goods. We believe Ukash® offers PayPoint users in Romania the ultimate in convenience and protection when shopping online."
Mugur Dogariu, Managing Director of PayPoint Romania, adds: "With the significant growth in online shopping in Romania, we believe PayPoint with Ukash offers consumers access to an online payment system that's safe and convenient by converting cash to e-money. Our partnership with Ukash is part of our commitment to respondingng to the needs of our customers, by offering them a diverse range of payment methods."
Ukash is regulated by the FCA (Financial Conduct Authority) and enables consumers to use cash online without having to reveal personal financial information. In order to make a payment at one of the thousands of online merchants worldwide that accept Ukash as a payment method, users simply enter the unique 19 digit code that comes with each Ukash receipt. Ukash is a safe and convenient way to make online transactions, with the company extending its global network further via this partnership with PayPoint Romania.