The company said vouchers will be available to order online 24 hours a day, seven days a week from the new Latin American pinshop with payment being processed using the Boleto Bancario system.
Customers will need to register, order a voucher then print off a Boleto.
They can then take their Boleto to more than 20,000 bank branches, pay in cash and will receive notification by email that their voucher is available in the secure account area at the pinshop.
Ukash said vouchers will be available in $25, $50 and $100 values using product code 192.
Vouchers can be combined and split but cannot be currency converted.
Ukash said customers pay in Real (BRL) with the exchange rate being calculated when they order online.