cashU seeks safe environment for young gamers

Dubai 3 January, 2012: As the Middle East’s gaming industry gathers momentum, with young gamers spending more time developing co-ordination and teamwork skills online, cashU facilitates a secure and convenient environment for young gamers to acquire online products and services in a manner both responsible and safe.

Statistics indicate that the Middle East’s gaming industry generates revenue between USD 1 billion to USD 2.6 billion across software and hardware. The number of gaming consoles in the Middle East is also rising rapidly, with estimates suggesting at least 8.5 million consoles excluding grey market imports.

CashU offers a solution for young individuals to spend metered amounts of money without requiring credit cards or bank accounts that may pose a spending hazard if used irresponsibly. CashU’s alternative payment solution is based on prepaid cards that can be used online with a very high level of security coupled with convenience.

A cashU account can also be topped up through exchange houses, which makes it very relevant to a younger generation of gamers and online shoppers who may not have access to bank accounts, or credit cards. The prepaid model also ensures protection from hacking, phishing and social engineering attacks. cashU doesn’t require the divulgence of personal details, which adds a further layer of security. The payment platform is built on a highly sophisticated, up to date fraud prevention and AML system that allows safer and faster consumer participation in e-commerce.

“The regional gaming industry is growing rapidly, and is attracting global attention in terms of marketing efforts and games that are either localized or developed for this market. The rise of the Middle East gamer has lent a dynamic to the market that developers and console makers are looking to explore. However, given the age and demographics of the gaming market, it is also important to create an environment where young people can spend on their entertainment safely and responsibly. cashU helps facilitate this through easily rechargeable prepaid cards that are widely available and highly secure,” said Martin Waldenstrom, CEO, cashU.

“Our services are tailored not just to young gamers, but also individuals looking to navigate the world of e-commerce securely, and with convenience. Our services are tailored to Middle Eastern and Arab audiences, and enjoy the support of a large affiliate network of merchants,” he added.

cashU currently serves over 500,000 online users making online payments to a network of 7,000 plus merchant sites. 30 percent of cashU’s customers are online gamers. Other popular uses include paying for web hosting services and TV subscriptions. cashU cards are available in over 4,500 POS across the Middle East, GCC and North Africa, and top-up facilities are offered by popular services such as the UAExchange and UAPS kiosks.