Payment provider Ukash was known for combining elements of standard banking services with the simplicity of an e-wallet to deliver an alternative to conventional banking. In 2015, the Ukash service was taken over by payment service powerhouse, Skrill (formerly Moneybookers). In turn, later that year Skrill was acquired by the newly rebranded Paysafe Group Plc. These acquisitions led Paysafe Group to dissolve Ukash into their prized paysafecard service.
Skrill, formally known as Moneybookers and now former owner of Ukash, agreed to a billion dollar sale to Paysafe Group Plc. back in 2015. The news took the gambling world by storm as these two companies represented two of the most prominent payment services in the industry. Combining industry giants, regardless of the industry, usually leads to major landscape changes, in this case the loss of the Ukash service.
Paysafe Group Plc., now the proud operators of Neteller, paysafecard AND Skrill, confirmed their industry altering purchase of rival Skrill for roughly $1.2 billion. Skrill's somewhat recent acquisition of Ukash only added more complexity to the massive Skill/Paysafe integration and eventually forced the elimination of the Ukash service.
With all the major changes to the payment service industry, it's no surprise topnotch payment services began to dissolve and integrate to ensure their survival in the highly competitive industry. Ukash officially dissolved into paysafecard effective 31st August 2015 and any existing vouchers could be spent until 31st October 2015, the day Ukash was replaced with paysafecard. Players looking to enjoy the familiar benefits of the Ukash service must now turn to paysafecard or an alternative e-wallet.
"Lena Sciberras is head of our Casino Content. With many years of experience covering online casino products and working with some of the biggest online software and payment providers in the casino industry Lena is ideally placed to ensure quality and accuracy across all of our casino content and consumer advice."
Live Betting. Sports Promos. Sent Weekly.
Confirm your email address in the email you will receive shortly.
DISCLAIMER: Online Wagering is illegal in some Jurisdictions. It is your responsibility to check your local regulations before playing online. GDC Trading Ltd takes no responsibility for your actions.
© 2011-2021 GDC Trading Limited. All Rights Reserved. Gambling.com is a registered trademark of GDC Trading Limited.