Principal Activities

The Group’s principal activities are organised into three divisions: Global Business Payments, Retail and Outsourcing.

Global Business Payments
Travelex is the world’s largest non-bank provider of commercial cross-border payment services. The business provides international payment services for commercial and personal customers, with products comprising multi-currency spot contracts, forward contracts and options. The Global Business Payments division was created by merging Ruesch International, which was acquired during the year, with Travelex’s Commercial Foreign Exchange (CFX) division.

Retail
Travelex is the world’s largest retail foreign exchange specialist, with over 700 branded retail branches, principally in airports and tourist locations. The business sells banknotes and other foreign exchange and travel related products and services to individuals travelling for business and leisure purposes.

Outsourcing
The business provides outsourced travel money services by supplying the foreign currency needs of financial institutions and travel agencies, as well as by fulfilling the individual orders of their customers. Products and services include banknotes, wholesale banknote fulfilment, the distribution of insurance policies and the issuing of prepaid cards.

The Group operates through its subsidiaries and branches in four regions: the United Kingdom; Europe, Middle East, India and Africa (EMEA); Americas and Asia Pacific.