Ukash offers an alternative to using bank cards for online payment. Customers pay cash for vouchers that can be bought from convenience stores and are accepted by internet merchants. The model appeals to people who don’t have credit cards and to those who are nervous about sharing their details online. Ukash says its success in Germany is partly due to the fact that some 30% of Germans don’t have a credit card. Under chief executive David Hunter, the London company grew sales 85% a year, from £2m in 2008 to £12.6m in 2011, boosted by expansion in mainland Europe, Latin America, Canada and Australasia.
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