SECPAY OFFERS CASH ALTERNATIVE TO MERCHANTS

24 October 2005 - SECPay, the leading online, real-time payment service provider has joined forces with Ukash, the innovative cash online payment brand, to offer a cash alternative to credit or debit card payments to its merchants.

UK retailers lose almost £8 billion per year, according to research undertaken by Ukash, by failing to accept cash payments online. By teaming up with Ukash, SECPay's merchants will now be able to effectively reach out to the UK's cash consumers online.

Ukash is aimed at merchants whose customers do not have a debit or credit card or simply do not wish to use their cards for online payments. Customers buy a Ukash voucher at any one of 14,000 issue points across the UK and then redeem their voucher online by using a unique reference number.

By offering Ukash as payment option, businesses provide their customers with a wider choice when buying online, potentially opening up valuable new revenue streams. Compellingly, because Ukash customers are paying in the equivalent of cash, the sale is assured and there is no chance of repudiation or fraud. The Ukash system will be seamlessly integrated with all new and existing SECPay merchants' online payment functions.

SECPay's Technical Director, Chris Dipple, commented: "We are delighted to be one of the first online payment service providers to offer a payment gateway that is fully integrated with Ukash. SECPay believes the Ukash payment system provides an exciting opportunity for both consumers and online businesses and we're delighted to provide our merchants with access to this exciting new consumer market."

Ukash's Chief Executive, Michael Norton, said: "Ukash is delighted to be working with SECPay, a well respected and financially secure payment service provider with a diverse range of merchants. The partnership will enable all SECPay merchants to accept payment from a far broader range of consumers with Europe's market leading online cash payment brand".

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