London 21 April 2011: HM The Queen has awarded a Queen's Award for Enterprise to Ukash, the Global eMoney Network, in the International Trade category.
The prestigious award recognises UK businesses that have achieved substantial growth in overseas earnings and outstanding levels of commercial success. Ukash, operating under the holding name of Smart Voucher, was awarded as a result of its geographical and financial growth.
In the past three years, Ukash has grown from operating in just 8 countries to over 50. Transaction volume and value have almost doubled in each of the three years: an increase of over 300%, with almost 70% of Ukash's earnings now coming from overseas. This financial year has firmly established Ukash as a profitable company, with further expansion achieved in both Europe and Latin America.
The Queen's Award is given on the advice of the Prime Minister, who is assisted by an Advisory Committee comprising key figures from the Department for Business, Innovation and Skills, the Cabinet and civil service. The judging panel considered profitability, turnover, market share, performance and measures taken to stimulate sales in relation to business targets.
Winners can benefit from the prestige associated with the award by displaying the logo on marketing materials and online for five years. Previous winners include BT Group plc, Dyson Ltd and Betfair.
David Hunter, Chief Executive Officer of Ukash, explains: "Winning the Queen's Award is a great achievement for Ukash as the company has continued to grow from strength to strength over the past few years. The Queen's Award is an acknowledgement of Ukash's continuing global expansion and what we are most proud of: enabling consumers all over the world to spend cash online simply and safely. On behalf of the whole company, I would like to thank our staff, partners and customers for their remarkable contribution to making Ukash a success."
Ukash empowers people to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations worldwide.