Ukash payment system launches prepaid virtual MasterCard card

 Global payment system Ukash announced the launch of a new service to allow customers to make payments online with their cash anywhere that MasterCard™ is accepted. Online shoppers are offered a ‘virtual card’, in exchange for cash, that can be spent in MasterCard merchants worldwide.

Ukash established a partnership with Transact Network Limited, a prepaid MasterCard issuer, to bring to the market a ‘virtual card’ specifically to address the needs of the cash customer. The product is scheduled for the launch by Q4 2009 and is expected to be hugely popular with shoppers.

Mark Chirnside, CEO of Ukash said: “Our vision has always been to allow everybody, anywhere in the world, to shop online and this innovation is a major milestone for Ukash in achieving our goal. For years those without access to credit and debit cards and those nervous of utilising cards online have missed out on special offers and services that are available to internet shoppers and we are delighted to offer a more socially inclusive solution. Now, consumers can use one of our ‘virtual cards’ and spend their cash at hundreds of thousands of websites and enjoy the benefits of ecommerce that so many people have been benefiting from for years.”