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Aug 14, 2006
The UK’s
Financial Services Authority (FSA) has authorized Ukash, the British company
that introduced cash payments to global online transactions, to operate as a
regulated e-money issuer. The new certification enables a single maximum online
cash payment transaction to increase to £500. Until now, Ukash has held the
FSA’s Small E-Money Issuer Certificate, with a limit of £100 (150 euros) for
each online transaction.
With this authorization, Ukash plans to aggressively promote its
services to a wider range of Payment Service Providers, redeeming merchants,
issuing retailers and consumers throughout Europe and in the Near
East. It intends to utilize this regulated status into all markets
in which it currently operates, including the Republic of Ireland, Germany and
Spain over the next month, and into those countries in which expansion is
planned during 2006 including the Netherlands, Belgium, Luxembourg, Sweden,
Switzerland, Austria, Poland, France, Italy, and Greece.
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