Ukash Appoints David Hunter as new Chief Executive

LONDON, January 14, 2011 /PRNewswire/ -- Ukash, the Global eMoney Network, has announced that leading industry figure David Hunter has been appointed as the company's new Chief Executive Officer. The former eMoney head of ClickandBuy and Paysafecard will be taking over with immediate effect.

Commenting on his appointment, David Hunter said, "I am very excited to be joining Ukash and leading the next phase of the company's development. Ukash has evolved in recent years from an alternative payment mechanism into a vast cash-loading eMoney Network, serving customers on six continents. There are many opportunities for us to leverage this network, as we aim to make Ukash the "world leader" in electronic cash-payment transactions. The opportunity of achieving that goal is a challenge I truly relish."

Ashley Head, Chairman of the Board of Directors, said of Mr Hunter's appointment, "David is an established and experienced leader within the payments industry. His knowledge of, and passion for, this market, will be of tremendous advantage to Ukash. It's a very exciting time for Ukash and I know that the company will benefit from David's vision and I look forward to watching it build on its recent success."

Having setup and led eMoney businesses at British Telecom, ClickandBuy and Paysafecard in the past six years - Hunter has a track record of leading prepaid ventures into profitable growth and has established himself as a champion of cash-based Electronic Money.

Ukash empowers people worldwide to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations. Globally, Ukash is active in more than 50 countries.

About Ukash (R)

Ukash(R), the global e-money network, enables consumers from anywhere in the world to shop, pay and play online safely using cash. Ukash is a secure payment method developed to protect personal identity and financial information when making online transactions; eliminating the threat of credit and debit card fraud for consumers and repudiations and charge-backs for retailers.

Established in 2001 under the holding company Smart Voucher Ltd, Ukash has grown to more than 420,000 physical points of purchase, and is available in more than 50 countries around the world. In 2008, Ukash(R) established a strategic partnership with South African payments giant Blue Label Telecoms - part owned by Microsoft - to develop the brand's services.

Ukash(R) is regulated by the UK Financial Services Authority (FSA) and operates as one of only a small number of Electronic Money Institutions, a status that allows a single maximum online cash payment transaction of up to GBP500/EUR750.

Uniquely numbered Ukash(R) vouchers are available through payment terminals in retail outlets across Europe, South Africa, South America, Canada and Australia and are also issued online from the company's website in selected European territories.

The technology behind Ukash is protected by patents registered across the Smart Voucher database and functionality and is, as such, protected by Patent Law in all the major economies of the world. Ukash(R) is a registered trademark of Smart Voucher Ltd.

    
    Contacts: Seamus O'Keeffe
    ING MEDIA
    +44(0)207-247-8334
    seamus@ing-media.com

SOURCE Ukash