Ukash is quite a popular alternative payment method used by many brokers. Ukash allows clients without (or those not willing to use) credit cards or bank accounts to pay for internet services and make deposits to Forex brokers. For forex traders it's an ideal workaround if they can't wire money to their brokers. Receiving money back is another issue.
South American forex market is becoming attractive to forex brokers looking to expand into uncharted territories however it's still in its infancy. Forex Magnates will soon introduce an extensive report about this region.
In many South American countries forex trading is limited or even illegal and Ukash is a good workaround. However even Ukash may be limited as according to Ukash " In order to shop, pay and play online with Ukash, customers will be required to give their full name, ID number and address the first time they visit More stores. Once this registration process is completed, customers can simply confirm their name and address verbally in order to purchase Ukash vouchers."
Not something most Ukash clients will find difficult to overcome.
Ukash now available throughout whole of Argentina
February 2012: Ukash, the international e-commerce cash payment method, has announced consumers across the whole of Argentina will now be able to use their cash online with Ukash.
Ukash had been available in Buenos Aires since February 2011: now its presence has been extended to the entire country because of a partnership with More in Argentina, made possible via its LATAM partners Raberil Trading S.A.
The entire network of More stores went live this week, bringing over 100 nationwide outlets where the consumer can now purchase Ukash in Argentina.
Ukash empowers people worldwide to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations. Globally, Ukash is active in more than 50 countries.
David Hunter, chief executive of Ukash, said: “Our research indicated that Ukash is perfect for the Argentinean market. For example, over 60% of the population access the internet regularly, with rates of internet access and e-commerce also growing”. “Furthermore, bank account penetration in Argentina is relatively low, with cash transactions accounting for 42% of all purchases, compared to just 4.6% card transactions – as an alternative cash Payments business, we were very interested to discover this. “For all these reasons, we knew the opportunity to shop online using cash would be well received, and that Ukash could provide a safe, secure and convenient solution for many consumers across Argentina.”
Rafael Ubilla, chief executive of More Money, said:
“At More, we have great expectations with the agreement signed with Ukash. As of this week, Ukash is available to consumers in all our shops in Argentina. We are in no doubt that this agreement will facilitate the availability of Ukash to a very high number of consumers here.”
In order to shop, pay and play online with Ukash, customers will be required to give their full name, ID number and address the first time they visit More stores. Once this registration process is completed, customers can simply confirm their name and address verbally in order to purchase Ukash vouchers. Customers will be able to locate their nearest Ukash outlet via the website: https://www.ukash.com/latin-america/es/home.aspx
