Ukash Online Payment System
The original Ukash system, founded in 2005, was an electronic payment method established in the United Kingdom. This payment method enabled Ukash users to exchange cash for a unique and secure nineteen digit code to be used online for purchases and payments, as well as international money transfers. The original Ukash system was bought up in 2014 and this take-over began the gradual phasing out of the existing Ukash system and the merge with paysafecard, which was completed in October 2015.
Ukash launches Cash UK
The one thing that stood out about the Ukash e-commerce system was the fact that direct cash interactions were possible. The partnership between UkashGlobal and Bank Machine allowed users to directly convert cash into codes to be used online and vice versa. Each nineteen digit code would be worth a certain amount in monetary value and by putting the code into an ATM, the pre-coded value could be withdrawn. Funds could be withdrawn from the Ukash account just like from any other regular bank account. This made it easy to withdraw funds from an online casino card even if the casino players did not have a regular bank account and could not access traditional withdrawal methods.
Ways of Withdrawing
There were three ways in which the Ukash launches cash UK system could help online casino players access their funds. Firstly, players could play at casinos that paid out in Ukash vouchers. This system allowed players to withdraw and deposit their funds in the form of Ukash vouchers. With this system players would have to select the Ukash cash method as their method of withdrawal and then select the amount to be withdrawn. They would then receive a unique code that would be processed as a Ukash voucher.
In order to turn this voucher into cash, users would need to sign in to their Ukash account, enter the Ukash voucher code, and then receive the cash withdrawal code, which could be used at selected ATMs or shops. In this way the fact that Ukash launches cash UK allowed players to access their cash funds directly through their Ukash accounts.
Another way that the initial Ukash launches cash UK system was used was in the form of the Prepaid MasterCard, a specific Ukash card that enabled users to use the Ukash MasterCard instead of adding Ukash vouchers directly to the casino. This card created another way of being able to deposit and withdraw funds from an online casino. There were fees involved with topping up the Ukash card and for withdrawing funds from an ATM using the Ukash card. Nonetheless, it was still a good option for online casino players that did not have a bank account.
Another way that the Ukash launches cash UK system enabled online casino players to easily transfer funds was by combining Ukash with Neteller or Skrill. By combining these systems, players would be able to deposit directly with Ukash but have their winnings paid into a different account based on the e-wallet system, such as Neteller or Skrill. These systems added another measure of safety to online transactions.