Romanian consumers will be able to purchase Ukash vouchers at any of PayPoint’s 7,000 terminals in neighborhood stores across Romania.
Ukash works by exchanging notes and coins for a voucher containing a unique code which is entered on a website when making a purchase. It operates in a number of consumer markets, including shopping, gift cards and online entertainment and can be used to pay on websites worldwide.
The value of online transactions in Romania increased by 24 percent in 2011, reaching EUR 158.9 million. However, consumers in Romania remain reluctant to using credit or bank cards when transacting online. An estimated 75 percent of online shopping and spending is actually completed using alternatives to card payments.
Ukash is regulated by the Financial Conduct Authority and enables consumers to use cash online without having to reveal personal financial information. In order to make a payment at one of the online merchants worldwide that accept Ukash as a payment method, users need to enter the unique 19 digit code that comes with each Ukash receipt.
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