cashU extends distribution network in KSA with OneCard

Users can now add funds to their cashU account using OneCard, which has over 8000 retail outlets in Saudi Arabia.

Gold, Silver, and Platinum OneCard account holders can add funds to their cashU accounts, which allow them to make payments on cashU's international merchant base. While OneCard's merchant base specialises in localised services such as ISPs and telephony cards, cashU can be used to buy online gaming subscriptions, VoIP services, auction and e-market sites like Souq.com and Amazon.com.

"Saudi Arabia is a key growth market, and OneCard offered us very competitive prices, which are just as good as some of our biggest resellers in the region," says Martin Waldenstrom, General Manager of cashU.com. "OneCard's distribution network extends to all the major cities and towns of Saudi Arabia, areas where cashU had a minimal presence," he added.

OneCard was initially launched in Saudi Arabia during April 2004 by NTG group the largest ICT conglomerate in the Arab world, and made headlines due to high public interest in this one of a kind product in Saudi Arabia. The Digital Excellence Award 2006 was presented to OneCard by the Ministry of ICT in Saudi Arabia.

Just 5% of Saudi residents have credit cards, which makes the prepaid card model essential for ISPs, GSM, telephone, SMS, Stock trading, premium subscriptions and paid content from the Web, In a market with 22 ISPs, OneCard serves as a payment infrastructure to these service providers who can focus on their core business instead of making substantial investments in their own distribution networks for prepaid cards.

"OneCard is essential for e-commerce websites and premium subscription in this region, as the Saudi market has a large percentage of internet savvy users who are morally opposed to usury, and therefore, credit cards." says Muhannad Ebwini, GM of OneCard.

"OneCard offers convenience, ease of use and zero risk. The customer just buys OneCard prepaid card and fills up his account on the OneCard website to buy from numerous exclusive web services and subscriptions, as well as any other prepaid card of any denomination available in the Saudi market,"

he added.

cashU addresses the need for an internet payment solution, in markets and demographics where credit cards are not very prevalent. cashU's prepaid card system enables minors to access and purchase online products and services anywhere on the Internet safely and without worries.