ONLINE 2012 Industry giants have been around longer and
have bigger marketing budgets, hence their presence in the market is stronger than us. However, our niche strength in mobile technology has taken us a step ahead and given us the required presence and penetration.
What will be your ‘big deal’ in 2012? Well, I hope the New Year brings in new
opportunities to expand the market. So far the United Kingdom has been the hub of activity for online gaming, but the trend has been changing. The growth is slow but significant and my focus rests on the North American and Canada markets which are poised to grow on the social media channels. Competition in this industry is intense and to grow along with the changing trends will be a challenge this year.
What do you think will be the biggest challenge in 2012? The advantage of growth in the industry is huge,
and as a result innumerable online gaming and bingo sites are launched regularly. Bingo is the fastest growing sector of the online gaming industry in the UK today. Any industry that grows at a lightening pace has a certain pattern of growth which automatically turns towards consolidation, and this is what has been happening with the online Bingo industry. With consolidation comes a mixed bag of opportunities and challenges beginning with the player base shrinking. Secondly, with consolidation, the margin of error reduces drastically, and the need to maintain 100% quality and to evolve every day is a major challenge. As a result, the competition increases, and hence the demand for better promotions are the order of the day.
David Hunter, Chief Executive, Ukash
What has been the best thing about 2011 for you? We have received two highly acclaimed awards during 2011. The Queens
Award for Enterprise which recognises Ukash for its business growth and international trade and the business was also ranked 23 on the Sunday Times Microsoft tech Track 100. Ukash also achieved its first year of profitability, a remarkable 80% year-on-year business growth as a result of our continued global expansion and we now process over £500million of safe online transfers worldwide every year.
What were the key products you worked on during 2011? Closing the loop on e-money payments with the launch of our UkashOut
Mastercard was a key product launch for 2011. The card means that players can transfer their winnings back to cash by loading their cash on to the card. For the operator, the UkashOut Mastercard is a faster and more convenient system that marks the end of costly cheques, bank transfers and other traditional payout methods.
What was the toughest thing about 2011 for you? Identifying smart, cost-effective ways to enter new markets; for example, we
have had to think carefully about how we enter the Latin American markets due to local regulations and currency controls. Our creative thinking has however paid off as we are now live in Brazil, Argentina and Mexico. Further growth is planned for 2012.
What will be your ‘big deal’ in 2012? We aim to continue to sign-up a number of market-leading merchants in all
sectors, including gaming and e-retail. But the biggest deal will be to enhance the utility of Ukash by launching several new products for operators and consumers including the enablement of a range of managed, ID checked cash- out services.
What do you think will be the biggest challenge in 2012? Regulation is the key challenge across all markets. Both the complexity of
different regulatory environments in different countries/regions and having the local knowledge to respond speedily. However, we are well placed with our networked-partner approach to doing business and see a number of exciting opportunities emerging, such as the US market.
FEBRUARY 2012 59
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