Bermuda-based First Atlantic Commerce (FAC) has joined forces with Mexican transactional payments firm Mercadotecnia Ideas y Tecnología (MITec) and global online alternative cash payment provider Ukash® for the launch of Ukash voucher payment solutions, including multi-currency voucher issuing, and full and partial redemptions, on the Mexican market.

Processing will be conducted securely over FAC's Internet payment platform allowing for real-time issuing and redemption of Ukash vouchers in Mexican Pesos. MITec has implemented Ukash in more than 600 point of sale retail outlets throughout the country, and will expand to Internet Ukash purchasing and redemption by the end of 2010.

Ukash vouchers bought in Mexico can be redeemed at any ecommerce merchant accepting Ukash vouchers online, opening up the Mexican consumer market to the global Internet economy.

Ukash, the fast-growing global e-commerce payment solution, announced that Mexico will add to its existing deployment of countries issuing vouchers in the Latin American market, including Uruguay and Colombia. The Mexican market currently has more than 15 million unbanked consumers seeking cash payment solutions.

Ukash and FAC ramped up its collaboration in June 2010 to offer online merchants full and partial value voucher redemption payment methods in Europe and emerging online consumer markets. MITec and FAC have been offering online merchants secure, fraud and risk management ecommerce payment solutions in Mexico for the past 18 months.

"This is a significant payment solution launch with MITec, FAC and Ukash providing a fully integrated and secure alternative cash payments solution for both physical retailers selling Ukash through a POS system, and Internet merchants who wish to offer Ukash as a payment method," said Chris Burns, senior vice-president of business development at FAC.

"We expect the Ukash payment brand to expand rapidly in Mexico where demand for risk-free payment solutions for banked and unbanked consumers is growing exponentially."