MoneyGram and Ukash Launch Money Transfer Service

Ukash customers can now send cash online anywhere in the world without the need for a bank or credit card account

Business Wire

LONDON--(BUSINESS WIRE)--

MoneyGram (MGI), a leading global money transfer provider, and Ukash, the leading UK-based online cash payment provider, today announced that Ukash customers can now send domestic and international money transfers from the Ukash website and receive the funds at any of MoneyGram’s 327,000 agent locations worldwide or through MoneyGram’s account deposit channels.

The agreement, which was announced earlier this year, now makes it easy for UK customers who prefer the security of not providing their credit or debit card information online to send money to friends and family using a Ukash code and MoneyGram’s robust global agent network.

“There are thousands of people living and working in the UK who don’t have access to conventional banking or credit facilities or prefer not to use them for online transactions,” said Tim Summers, head of strategic partnerships, MoneyGram. “For these people, the only way to send money home to family and friends is to visit a money transfer location. Through our collaboration with Ukash, funds can now be sent online instantly and securely to any MoneyGram location around the world, subject to local laws and regulation.”

“From foreign workers who don’t have a UK bank account and want to send money home to family, to relatives sending gifts for festivals and other celebrations, the new Ukash money transfer service offers people a secure and convenient money transfer solution at the click of a mouse,” said David Hunter, chief executive officer, Ukash. “This is the first service to offer domestic and international money transfers online with ‘cash’ and breaks down the barrier people often face if they don’t have a UK bank account or don’t want to put their bank or credit card details online. Once they have their Ukash code, which can be obtained at more than 25,000 convenient UK locations, they can transfer cash instantly.”

Using a Ukash code, up to £200 can be sent online at www.ukash.com for collection at any of MoneyGram’s 327,000 outlets in nearly 200 countries around the world, either as cash or direct to a bank account or e-wallet. Ukash and MoneyGram believe the innovative service puts secure money transfers within the reach of thousands of people living and working in the UK who, until now, have found it inconvenient to get money to family and friends because they didn’t have or want to use a bank or credit card account.

Ukash operates in 57 countries and has more than 460,000 points of sale. The service will roll out to additional countries in 2014.

About MoneyGram International

MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide through a global network of 327,000 agent locations -- including retailers, international post offices and financial institutions -- in nearly 200 countries and territories. MoneyGram also offers bill payment services in the United States and Canada. MoneyGram is listed on the NASDAQ Stock Exchange under the ticker symbol MGI. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.

About Ukash

Ukash is the global online cash payment provider and internationally recognised e-commerce cash payment method that enables consumers around the world to use cash to shop, pay and play online safely, securely and conveniently. 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 codes are purchased with cash in retail outlets such as shops, petrol stations and kiosks, and issued online from the company’s website. The unique 19 digit codes can then be used to pay directly on any of the thousands of websites that accept Ukash transactions worldwide, or loaded onto prepaid cards and e-wallets.

Established in 2001 under the holding company Smart Voucher Ltd, Ukash® has grown to more than 460,000 physical points of purchase, and is available in over 50 countries around the world in 6 continents.

Ukash is regulated by the UK Financial Conduct Authority (FCA). Ukash is regulated by the UK Financial Conduct Authority (FCA). The maximum single value allowed is £200/€250 and the maximum amount that can be held by an individual customer is £1,000/€1,250 – equivalent values in other currencies apply to both sums.

Find us on:
http://www.facebook.com/PayWithUkash
http://twitter.com/PayWithUkash

For further press information or interviews please contact the Ukash Press Office at HSL: Wendy Harrison, Jenny Thorneywork or Clare Watson. 0208 977 9132. ukashteam@harrisonsadler.com

Contact:
MoneyGram International
Mike Gutierrez, +1-214-303-9923
media@moneygram.com

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