Anyone accepting Ukash yet?

[JulianLang]

Hi,

I'm new to this forum, but have just been alerted to a new payment type that looks really interesting - a friend uses a few online casino's (I don't gamble myself) - and some of them are starting to accept Ukash - basically you can buy Ukash in any Paypoint store in the UK - and use it online - so it's essentially like sepnding cash online - with no need for a card!

The companies heritage looks good (www.ukash.com) - it's set up by Scott Thomson - he set up the Switch card. Aparently you can deal with them direct, or via a payment service company.

Interested to know if anyone has any experiences.

Thanks,

Julian

[BMS]

Hi Julian

Saw a link similar to this yesterday / Tuesday..think it was on this site form a guy how was setting up an omline store and he wanted to sell his wares using online credits which were bought for cash.

Is this the same thing ??

Ozzy may be along later sure he will remember the link.

[RockLinks]

I use to have a card that done exactly the same thing as this, i cant remember what it was called though but i know most websites didnt accept it.

[coxadmin]

It certainly looks interesting and I will bear it in mind for the future.

Thanks for posting the info.

[Ozzy]

I'm going to have to play dumb here as that is a new thing to me. The theory sounds good, but if you offer it as a payment solution you will have to offer alternatives aswell for those who do not subscribe to that service .. as it will obviously never be as big as Visa, Mastercard, etc.

[VeryMark]

Sounds a bit like Crystal Blue:

http://www.crystalblue.com/

[JulianLang]

Thanks for the input guys, i must admit it's the first product i've seen that does'nt need a consumer to register - i had'nt seen crystal blue though - thanks for that - there's a lot of 'pre-paid' Visa cards out there for instance, but they all require a customer to register, and get a card in the post. This seems ideal for under 18's - i had'nt apreciated the numbers of cash payments in the UK either - from their website

'This will enable online merchants to reach the cash market in the UK (over 40% of all UK consumer spending, according to APACS), the digitally excluded who may not to have bank accounts or cards as well as the youth market'

Will be interesting to see how many merchants they can sign up.

Cheers,
Julian

[RockLinks]

I believe these things take some time for payment to clear. But if you dont mind the wait then go for it :D

[Toon]

I've enquired about setting this up but am put off by the fees. First of all they want 7% of the value of the sale. So if I do a sale of £50 then there's £3.50. Not too bothered about that. What I am bothered about though is the fact that you have to agree to give them at least £250 worth of fees every month. I don't even spend that much on merchant fees.

[RockLinks]

All i can say is go to Nochex :D

[JulianLang]

Hi there,

I also enquired, and it seems they are prepared to waive their minimum monthly fees (up to you to negotiate :lol: ) - also, interesting (and great) that their settlement cycle is 7-12 days - much quicker than I expected - they also say there's no repudiation opportunity, so your money is essentially 'guaranteed' as opposed to cards with all the risk of fraud etc.

I'm going to give them a try!

Cheers,
Julian

[RockLinks]

Let us know how you get on :D

[othellotech]

Anyone been brave enough to start taking UKashyet ?

Whilst its not a new idea (pre-pay cards which can be processed exactly as debit-cards) have been around for a while, and MondoCash tried something *ages* ago similar, they all seem to have failed.

And people are talking/assuming/guessing that greenzap's a con (we've had several clients already ask if they can pay for their hosting in webcash as it cant be "withdrawn")

Starting a new payments service is relaively easy - quick e-money licence , arrangements with a bank/supermarket/etc for deposits (you can credit your pre-pay visa cards at newsagents !)

Getting the remittance money out as a merchant is somewhat harder ...

We're investigating one called IpayU which is phone/sms/email/web based at present

[JulianLang]

I just heard something very interesting about these guys... a friend of mine is in PR and has just pitched for their business, they are about to announce some interesting news (obviously I can't divulge but may be worth watching out) that they are signing some interesting PSP's and clients - has anyone else been in touch with them yet?

I have to say I really like the idea, but my business is taking a while to kick off so cant comment on how good the service is yet...

Julian