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'''Ukash''' is a UK-based [[electronic money]] system that allows users to exchange their cash for a secure code to make [[online payment|payments online]].
'''Ukash''' is a UK-based [[electronic money]] system that allows users to exchange their cash for a secure code to make [[online payment|payments online]]. The system is authorised and regulated by the [[Financial Conduct Authority]].


The system allows users to exchange their cash for a secure code. The code is then used to make payments online, to load cards or [[Digital wallet|e-wallets]] or for money transfer. Codes are distributed by participating retail locations, kiosks and [[Automated teller machine|ATMs]].
The system allows users to exchange their cash for a secure code. The code is then used to make payments online, to load cards or [[Digital wallet|e-wallets]] or for money transfer. Codes are distributed by participating retail locations, kiosks and automated teller machines around the world.

In June 2014 Ukash launched a second prepaid card programme, the Ukash Travel Money Prepaid MasterCard.


==Process==
==Process==
Ukash users are given a unique 19-digit code representing their prepaid money; this is entered when making a transfer, payment or purchase online.
Ukash users are given a unique 19-digit code representing their prepaid money; this is entered when making a transfer, payment or purchase online. If the purchase is less than the value of the code a new 19-digit code is provided, just like change in an offline cash transaction.


==Staying Safe Online==
The ‘bearer’ of Ukash can spend it anywhere it is accepted. Some [[Confidence trick|scammers]] have been reported to be exploiting the Ukash system for [[black market]] use by extorting codes from victims. Fraudsters promise cheap loans or other services in exchange for a fee. Some offer items for sale on sites like [[Gumtree]] but these items do not exist. Others infect a computer with [[Ransomware (malware)|ransom malware]] and demand the payment in Ukash.<ref>{{cite news|title = To Unlock Android Phone, pay $300|quote = |publisher = Ars Technica|url = http://arstechnica.com/security/2014/05/your-android-phone-viewed-illegal-porn-to-unlock-it-pay-a-300-fine/}}</ref>
The ‘bearer’ of Ukash can spend it online anywhere it is accepted. Some [[Confidence trick|scammers]] have been reported to be exploiting the Ukash system for [[black market]] use by extorting codes from victims. Fraudsters promise cheap loans or other services in exchange for a fee. Some offer items for sale on sites like [[Gumtree]] but these items do not exist. Others infect a computer with [[Ransomware]] and demand the payment using methods including Ukash.<ref>{{cite news|title = To Unlock Android Phone, pay $300|quote = |publisher = Ars Technica|url = http://arstechnica.com/security/2014/05/your-android-phone-viewed-illegal-porn-to-unlock-it-pay-a-300-fine/}}</ref>


In 2012, the company issued advice to consumers on staying safe with Ukash. The best way for consumers to avoid becoming victims of [[fraud]] is to guard Ukash codes like cash. Each Ukash code is unique and like cash, must be kept safe and therefore never emailed or given to anyone else over the telephone.<ref>{{cite news|title = Ukash Security Tips|quote = |publisher = Ukash Official|url = http://www.ukash.com/uk/en/security-tips.aspx}}</ref>
In 2012, the company issued advice to consumers on staying safe with Ukash. The best way for consumers to avoid becoming victims of [[fraud]] is to guard Ukash codes like cash. Each Ukash code is unique and like cash, must be kept safe and therefore never emailed or given to anyone else over the telephone.<ref>{{cite news|title = Ukash Security Tips|quote = |publisher = Ukash Official|url = https://www.ukash.com/en-gb/security/}}</ref>


Ukash is designed solely for making payments online and at participating merchants. Most [[Internet fraud|online scams]] reported obtain Ukash by asking the victim to email the code or give out over the telephone.{{cn|date=May 2013}}
Ukash is designed solely for making payments online and at participating merchants. Most [[Internet fraud|online scams]] reported obtain Ukash by asking the victim to email the code or give out over the telephone. <ref>{{cite news|last1=Frost|first1=Maisha|title=PPI cold call conmen are given the dial tone|url=http://www.express.co.uk/finance/crusader/522159/The-Crusader-PPI-cold-call-conmen-given-the-dial-tone|accessdate=13 October 2014|work=Daily Express|ref=DE13102014}}</ref>
In 2013, the company supported the launch of the website Avoidonlinescams.net offering information and advice on avoiding online scams and ransomware.<ref>{{cite news|title = Avoid Online Scams|quote = |publisher = Ukash Official|url = http://www.avoidonlinescams.net}}</ref>
In 2013, the company supported the launch of the website Avoidonlinescams.net offering information and advice on avoiding online scams and ransomware.<ref>{{cite news|title = Avoid Online Scams|quote = |publisher = Ukash Official|url = http://avoidonlinescams.net}}</ref>

==Awards==
Ukash has been recognised in recent years with an array of awards.

* [[Queen's Awards for Enterprise]] International Trade Category - 2011, 2012, 2013 and 2014
* The Prepaid Awards 2012 UK - Best Virtual Prepaid Programme
* Canadian Prepaid Award 2012 – Best Prepaid Marketing Campaign
* Prepaid365 Awards 2014 - Best Unbanked Prepaid Card
* The Sunday Times Tech Track 100 2011, 2012 and 2013 – 23rd, 47th and 69th Position
* EGR B2B Awards 2012 – Payments Company of the Year
* Prepaid Awards 2010 and 2013 – Best Virtual Card Program

Ukash has been shortlisted for 3 awards at the Emerging Payments Awards 2014; Best Global Prepaid Consumer Programme, Best Global Prepaid Card or Packaging Design & Best Online Payment Solution

The company became accredited by [[Investors in People]] in 2014.

In May 2014 Ukash was announced as the winner of the Innovation & Improvement Award at the London and South East Contact Centre Forum Awards. This was followed by becoming finalists in the Small Contact Centre and Employee Engagement category at the 2014 UK Customer Experience Awards and also shortlisting in two categories at the European Call Centre and Customer Service Awards 2014.


==See also==
==See also==

Revision as of 10:27, 16 October 2014

Ukash
Company typePrivately held company
IndustryFinancial Services
Founded2005
Headquarters
London
,
United Kingdom
ProductsUkash
ParentSmart Voucher Ltd.
Websitewww.ukash.com

Ukash is a UK-based electronic money system that allows users to exchange their cash for a secure code to make payments online. The system is authorised and regulated by the Financial Conduct Authority.

The system allows users to exchange their cash for a secure code. The code is then used to make payments online, to load cards or e-wallets or for money transfer. Codes are distributed by participating retail locations, kiosks and automated teller machines around the world.

In June 2014 Ukash launched a second prepaid card programme, the Ukash Travel Money Prepaid MasterCard.

Process

Ukash users are given a unique 19-digit code representing their prepaid money; this is entered when making a transfer, payment or purchase online. If the purchase is less than the value of the code a new 19-digit code is provided, just like change in an offline cash transaction.

Staying Safe Online

The ‘bearer’ of Ukash can spend it online anywhere it is accepted. Some scammers have been reported to be exploiting the Ukash system for black market use by extorting codes from victims. Fraudsters promise cheap loans or other services in exchange for a fee. Some offer items for sale on sites like Gumtree but these items do not exist. Others infect a computer with Ransomware and demand the payment using methods including Ukash.[1]

In 2012, the company issued advice to consumers on staying safe with Ukash. The best way for consumers to avoid becoming victims of fraud is to guard Ukash codes like cash. Each Ukash code is unique and like cash, must be kept safe and therefore never emailed or given to anyone else over the telephone.[2]

Ukash is designed solely for making payments online and at participating merchants. Most online scams reported obtain Ukash by asking the victim to email the code or give out over the telephone. [3]

In 2013, the company supported the launch of the website Avoidonlinescams.net offering information and advice on avoiding online scams and ransomware.[4]

Awards

Ukash has been recognised in recent years with an array of awards.

  • Queen's Awards for Enterprise International Trade Category - 2011, 2012, 2013 and 2014
  • The Prepaid Awards 2012 UK - Best Virtual Prepaid Programme
  • Canadian Prepaid Award 2012 – Best Prepaid Marketing Campaign
  • Prepaid365 Awards 2014 - Best Unbanked Prepaid Card
  • The Sunday Times Tech Track 100 2011, 2012 and 2013 – 23rd, 47th and 69th Position
  • EGR B2B Awards 2012 – Payments Company of the Year
  • Prepaid Awards 2010 and 2013 – Best Virtual Card Program

Ukash has been shortlisted for 3 awards at the Emerging Payments Awards 2014; Best Global Prepaid Consumer Programme, Best Global Prepaid Card or Packaging Design & Best Online Payment Solution

The company became accredited by Investors in People in 2014.

In May 2014 Ukash was announced as the winner of the Innovation & Improvement Award at the London and South East Contact Centre Forum Awards. This was followed by becoming finalists in the Small Contact Centre and Employee Engagement category at the 2014 UK Customer Experience Awards and also shortlisting in two categories at the European Call Centre and Customer Service Awards 2014.

See also

References

  1. ^ "To Unlock Android Phone, pay $300". Ars Technica.
  2. ^ "Ukash Security Tips". Ukash Official.
  3. ^ Frost, Maisha. "PPI cold call conmen are given the dial tone". Daily Express. Retrieved 13 October 2014.
  4. ^ "Avoid Online Scams". Ukash Official.