Rapidly growing online payments business Ukash adds to recent success with place on Sunday Times Microsoft Tech Track 100

Johannesburg, 21 Sept 2011

Ukash has been included in the Sunday Times Microsoft Tech Track 100 for the first time.

This success comes hot on the heels of an outstanding year for the Financial Services Authority regulated company: Ukash achieved its first year of profitability in 2011, a remarkable 80% year-on-year business growth as a result of its continued global expansion, and was awarded the prestigious Queen's Award for Enterprise.

Ukash now processes over £500 million of safe online transfers worldwide every year. However, perhaps the greatest accolade is that 93% of Ukash customers surveyed would recommend Ukash; 83% already have.

The Sunday Times Microsoft Tech Track 100 league table ranks Britain's 100 private tech (TMT) companies with the fastest-growing sales over the latest three years.

Tech Track 100 is compiled by Fast Track and published in The Sunday Times each September, with an official awards event in November. The league table champions the UK's top-performing private companies.

David Hunter, Chief Executive Officer of Ukash, said: “Being a Tech Track 100 company is a fantastic triumph. Not only does it recognise the company's commercial growth, the achievement signifies that every day, Ukash is enabling even more consumers all over the world to use cash online, simply and safely. On behalf of the whole company, I would like to thank our staff, partners and customers for their remarkable contribution to Ukash.”

A typical Tech Track 100 company has between 20 and 100 staff, has average three-year sales growth ranging from 35% pa to 360% pa, and has sales ranging from £5 million - £50 million - all characteristics true of Ukash.

Since its inception in 2005, Ukash has enabled consumers to use their cash online without having to reveal financial information. Cash can be exchanged for a unique 19-digit Ukash voucher in South Africa at Pick n Pay, Shoprite Checkers and online via Standard Bank's Autopay, and is acceptable at many local online Merchant sites.

The unique 19 digit vouchers are used to pay directly on thousands of Web sites that accept Ukash worldwide. Ukash vouchers are easy to buy and spend, making online transactions more accessible, secure and convenient.

Ukash

Ukash is the global e-money network and internationally recognised e-commerce cash payment method that enables consumers from anywhere in the world to shop, pay and play online safely, using cash. This secure payment method was developed to protect personal identity and financial information when making online transactions, reducing the threat of credit and debit card fraud for consumers and repudiations and charge-backs for retailers. Ukash has no age limit, so consumers of all ages can make the most of safe payment online.

Ukash vouchers are purchased with cash in retail outlets and issued online from the company's Web site. The unique 19-digit vouchers are then used to pay directly with cash on any of the thousands of Web sites that accept Ukash transactions worldwide.

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

Ukash 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 £500/EUR750.

In 2011, HM The Queen awarded Ukash a Queen's Award for Enterprise in the International Trade category. The prestigious award recognises UK businesses that have achieved substantial growth in overseas earnings and outstanding levels of commercial success. Ukash, operating under the holding name of Smart Voucher, was awarded as a result of its geographical and financial growth.

Ukash was included in the Sunday Times Microsoft Tech Track 100 in 2011, which identifies and ranks the most successful private companies in a league table.

The technology behind Ukash is protected by Patent Law in all the major economies of the world. Ukash is a registered trademark of Smart Voucher.

The facts:

* Ukash was established in 2005.
* Ukash has grown to over 420,000 physical points of purchase.
* Ukash is available in over 50 countries around the world, across six continents.
* Ukash can be spent on 50 Web sites.
* Ukash is available in 10 currencies.

What are the benefits?

Ukash is the safe and secure way to pay - there's no need to share financial details online.

Ukash empowers consumers to use cash electronically, irrespective of status, device or boundary, regardless of having a credit or debit card and enables them to stay in control of spending.

Ukash is flexible: consumers can take Ukash and split it into smaller amounts, combine into larger amounts, convert into other currencies or even donate Ukash change to charity.

Ukash is convenient, simple and free. Ukash is also available via online bank transfer and it is easy to use at any Web site that accepts Ukash.

Ukash is available for all - whether you are concerned by online fraud or don't have a bankcard, you can use Ukash to pay, play and shop online at thousands of global locations.

Ukash opens up new markets for companies to sell their goods and services online to those without credit or debit cards, even bank accounts, and those simply reluctant to give financial details online.

Ukash is the proud headline sponsor of the Prepaid Awards 2011.

For more information, please contact:

Leila Dukes
ING MEDIA
leila@ing-media.com
Ph: 0207 247 8334

David Cummins
ING MEDIA
david@ing-media.com
Ph: 0207 247 8334

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