Travelex Mobilises Cash Passport™

Date: Nov 30, 2009

Travelex and Monitise to develop mobile services for Cash Passport™

Travelex, the global travel money and payments group, today announces it’s agreement with Monitise to launch mobile services for its 1.75m global Cash Passport™ cardholders.

Cash Passport™, a prepaid travel money card available in seven currencies, offers holidaymakers and those travelling on business a secure and convenient way to carry money overseas. Cardholders can use their Cash Passport™ to pay for things and withdraw cash, just as they would with any other card, but without charges for use overseas.

Travelex and Monitise, one of the world’s leading mobile payments firms, is developing an application which can be downloaded to the cardholder’s handset, allowing them to check their balance at any time, reload the card by mobile and also set up other alerts. The service will launch next year with a low balance alert, reminding cardholders to reload.

Mark Horgan, managing director of cards and mobile payments at Travelex commented, “Mobilising our Cash Passport™ is a landmark product development step for us.  The prepaid travel card market is growing fast, it is essential that we innovate and bring new, value added services to our cardholders.

“The combination of a secure card serviced from a mobile phone is a powerful proposition which will enable us to grow both our card base and our revenues.”

Alastair Lukies, chief executive officer of Monitise, said, “Our Mobile Money Manager is already the platform of choice for leading banks and financial institutions globally and we are delighted to be chosen by Travelex to mobilise their Cash Passport™.

“Enlightened companies like Travelex understand that cards and handsets, far from being competitors in the payments space, are extremely complementary; customers can only benefit.”

In October this year Cash Passport™ was Highly Commended in the Daily Mirror and Money Facts consumer money awards and was also awarded both the Best International and Best Corporate/Government Prepaid Programme at the 2009 Prepaid Awards.  In the UK Cash Passport™ is available from Travelex shops and other retail outlets including Thomas Cook, Co-operative Travel, Tesco, Sainsbury’s and Asda.

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Travelex

Travelex is the world's foreign exchange and international payments specialist, operating through subsidiaries and branches in five regions: the United Kingdom; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific.

As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers; it provides products including its prepaid travel card Cash Passport™ to millions of customers every year. Through its world-leading automation, Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.

www.travelex.com www.cashpassport.com

Media contacts

Becky Lamont, Golley Slater PR
Direct dial: 01223 209971
Mobile: 07989 230737
rlamont@golleyslater.co.uk

Rebecca Maund, Golley Slater PR
Direct dial: 020 7255 6432
Mobile: 07918 716755
rmaund@golleyslater.co.uk

Monitise

Monitise plc (LSE: MONI.L) has created the world's first mobile money networks, which allow customers of multiple banks and mobile operators to perform banking and payment transactions directly from their mobile handset.

With live services in the UK and in the USA, where it is in partnership with FIS, the company is currently working with international partners to deliver similar safe, secure mobile banking and payment services in territories worldwide. Current key partners include VocaLink, FIS, HSBC, Lloyds TSB, First Direct, Alliance & Leicester, Royal Bank of Scotland, NatWest, Ulster Bank, Visa, Vodafone, Orange, O2, T-Mobile and 3.

www.monitisegroup.com

Media Contacts

Lucy McCartney, Bell Pottinger Business & Brand
Direct dial: + 44 (0) 20 7861 2507
Mobile: +44 (0) 7944 611570
lmccartney@bell-pottinger.co.uk

Charli Beale, Bell Pottinger Business & Brand
Direct dial: + 44 (0) 20 7861 3029
Mobile: +44 (0) 7800 582266
cbeale@bell-pottinger.co.uk