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Ukash to enable ecommerce returns through cash withdrawal service

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Consumers can now turn Ukash vouchers back into cash, enabling ecommerce retailers to refund purchases made using the service, or to offer online customer loyalty schemes to cash-only customers.

Ukash enables consumers to shop or game online without needing to have a credit or debit account. Up till now, users have been able to turn their cash into a Ukash voucher, featuring a secure 19 digit number, at more than 24,000 outlets, from convenience stores to garages, that are part of the PayPoint network. But until now they have not been able to turn their voucher back into cash.

The introduction of the Cash Withdrawals service, which goes live later this month, will provide a way to turn gaming winnings, unspent Ukash vouchers, back into cash. Potential uses of the facility also include offering customer loyalty rewards, refunding of payments when online purchases are returned, or the provision of emergency cash.

Ukash chief executive David Hunter says the move will extend the convenience of e-money – and its attractiveness to online retailers.

“We have been leading the way in helping consumers transact online for more than a decade,” said Hunter. “We identified that greater flexibility in converting Ukash back into cash was an important customer service advantage. As a result, we have made significant investment in the development of Cash Withdrawals, working in partnership with PayPoint. We believe it’s a pioneering step for consumers and e-tailers alike.”

Andrew Goddard, retail director at PayPoint, said: “Ukash has proved very popular with our customers and as a footfall generator for our retail partners. We are delighted to add Cash Withdrawals to our range of CashOut schemes, which enable our retailers to further benefit from the growth and scope of ecommerce.”

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