UKash launches in Argentina
Payment provider launches prepaid voucher for Argentinian egaming customers.
Payments provider UKash has launched its prepaid voucher solution in Argentina, expanding its presence in the country after launching in Buenos Aires in February last year.
UKash vouchers are now available in more than 100 outlets across the country through the company’s partnership with the Argentinian subsidiary of Uruguayan payments processor More Money Transfers.
Players are now able to make deposits online using the vouchers, with UKash CEO David Hunter explaining that the system allows operators to bypass the problem of low card use in the country: “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,” he added.
Despite announcing plans to look into gambling regulation in August 2009, the Argentinian government has made little progress on creating a framework since then. This has not stopped high-profile companies including PokerStars, bwin.party, 888 and Sportingbet’s Spanish-language brand Miapuesta developing a strong presence in the market.