rocessing is conducted securely over FAC’s internet payment platform allowing for real time issuing and redemption of Ukash vouchers in Mexican pesos. MITec has implemented Ukash in more than 600 point of sale retail outlets in the country, and will expand to internet Ukash purchasing and redemption by the end of the 2010. Ukash vouchers purchased in Mexico can be redeemed at any ecommerce merchant accepting Ukash vouchers online, opening up the Mexican consumer market to the global internet economy.
Ukash announced that Mexico will add to its existing deployment of countries issuing vouchers in the Latin American market, including Uruguay and Colombia. The firm, in conjunction with MITec and FAC, has now entered the Mexican market where there are more than 15 million unbanked consumers looking for cash payment solutions.
Ukash and FAC ramped up their collaboration in June 2010 to offer online merchants full and partial value voucher redemption payment methods in Europe and emerging online consumer markets. MITec and FAC have been offering online merchants secure, fraud and risk management ecommerce payment solutions in Mexico for the past 18 months.
Chris Burns, SVP business development at First Atlantic Commerce, commented: “We expect the Ukash payment brand to expand rapidly in Mexico where demand for risk free payment solutions for banked and unbanked consumers is growing exponentially.”