TSXV:VSI - Post Discussion
Post by
trytomakeabuck on Jul 15, 2013 9:51am
VendTek Forms JV with Ukash to Sell Brazilian Vouchers
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2013-07-15 10:22 AT - News Release
Mr. Doug Buchanan reports
UKASH AND VENDTEK ANNOUNCE NEW PARTNERSHIP TO GIVE BRAZILIAN SHOPPERS MORE CHOICE ONLINE
Ukash, the on-line cash innovator, and VendTek Systems Inc. are forming a commercial alliance between Ukash and VendTek's wholly owned Brazilian subsidiary, Now Prepay Servicos de Informatica Ltd.
As a result of the partnership, Brazilian consumers will be able to purchase Ukash vouchers in Brazilian Real at participating Petrobas and other independent stores across the country. The number of locations at which consumers can buy Ukash vouchers in Brazil is growing every month and customers can go online to find their local store. They will be able to spend the vouchers at 3,500 e-commerce and digital entertainment websites around the world.
The alliance will also enhance the Now Prepay offering for Brazilian retail merchants. By adding access to Ukash as the online cash payment option, internet retailers operating in Brazil will be able to reach more consumers.
"This is exciting news for VendTek" said Doug Buchanan, President and Chief Executive Officer of VendTek. "We have been working hard to increase our product portfolio in our distribution network in Brazil. The partnership with Ukash means we can increase the added value we offer to our merchants, supporting growth of our merchant network. It's also a great way to capitalise on the tremendous success we've had with Ukash in Canada."
David Hunter, Chief Executive Officer, Ukash added: "Brazil is an important market for Ukash with a large consumer population that either don't want to use bank or credit details online or don't have access to these facilities. The fact that the Brazilian Real is not accepted on a lot of websites has also been a challenge for both consumers and online retailers operating in the country. Through our partnership with Now Prepay we can give global and local online retailers, access to the valuable Brazilian marketplace as well as facilitating great online deals for Brazilian consumers."
Pioneering the online payment market over a decade ago, Ukash has grown to 460,000 physical points of purchase and is available in more than 50 countries. It is regulated by the UK Financial Conduct Authority (FCA).
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