Dubai 13 November, 2011: Market research indicates that online consumers are still wary of sharing credit card details for purchases on the Internet due to security concerns. Increases in incidences of phishing and other social engineering attacks have furthered security fears, with a recent Symantec security report noting increasing sophistication in such attacks.

CashU's payment solution based on prepaid cards can be used online with a very high level of security coupled with convenience A cashU account can be recharged using prepaid cards sold at the various vendors by using the code on the scratch card or through the direct top-up service at exchange houses and vendors making the service very relevant to a younger generation of gamers and online shoppers who may not have access to bank accounts or credit cards.

The payment platform is built on highly sophisticated and up to date fraud prevention systems, reducing the risks associated with online payments for both buyers and sellers and allowing wider, safer and faster consumer participation in e-commerce. The CashU management team draws from a wealth of hands-on experience in international banking, credit card processing, alternative payment solutions, and online monetization and marketing.

Today, CashU serves online shoppers all over the Middle East and North Africa with secure and accessible payment solutions, giving everyone the possibility to buy online.

"The CashU prepaid model offers a level of security and spending control that others simply don't. Users don't need to provide personal information at points of purchase, which results in higher security levels." said Martin Waldenstrom, CEO, CashU. "We've tailored our offerings specifically to the Middle East and Arab audiences, with a network of affiliated merchants supporting most popular card uses."

The service is popular across multiple sectors such as gaming, matrimony,  and business  CashU currently serves over 500,000 online users who make online payments to a network of 7,000 plus merchant sites. 30 percent of CashU's customers use it to pay for online gaming services. Other popular uses include paying for web hosting services, and TV subscriptions for channels like Abu Dhabi Sports and Al Jazeera Sports.

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© Press Release 2011