CashU expands in the Middle East

Online payment system can be used without bank account or credit card

Tags: E-commerceUnited Arab EmiratescashU (www.cashu.com/)
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CashU expands in the Middle East Online payment system, cashU is expanding its presence in the Middle East.
By  Georgina Enzer Published  January 25, 2012

Secure online payment provider, cashU, is expanding its presence into the Middle East and is currently working with UAE sites such as tahadi.com, souq.com and cobone.com.

CashU's online payment solution is designed to cancel out the risk of phishing and card cloning.

"In this digital age, consumers are increasingly aware of the risks they are taking when shopping online, the threats of phishing, cloning and identity theft involved in releasing personal information. The secure cashU pre-payment system cancels the risks consumers face when spending online and also protects young gamers who don't have access to bank accounts or credit cards", said Martin Waldenstrom, CEO, cashU.

According to cashU, the Middle East and Africa will experience the highest internet traffic growth in the next four years at 51%, with internet gaming expected to grow at an average compound rate of 39% in the same time frame.

The cashU pre-paid system does not require a bank account or credit card, meaning the younger gaming generation - which comprises a large percentage of online users - can gain access safely.

According to the company, 30% of cashU customers use their pre-paid services to pay for online gaming services and it serves more than half a million online users making payments to more than 7,000 merchant sites.

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