Travelex South Africa
TRAVELEX PRESS RELEASE
Travelex Drives Prepaid and Foreign Currency Innovations:
Travelex Visa TravelMoney® Named Finalist for “Best Consumer Card Program” Award, Travelex Debuts New Foreign Currency Packs
Date : 21st February 2008
Louisville, KY—February 21, 2008 - The Travelex Visa TravelMoney® card has been named as one of only three finalists in the “Best Consumer Card Program” awards that will be given out on March 4 at the Prepaid Card Expo in Las Vegas. The Travelex Visa TravelMoney card is used extensively by leisure travelers and has begun to be adopted by businesses as a tool to fund overseas staff expenses.
More than 160,000 Travelex cards were purchased last year totaling more than $150million USD. The cards have just been upgraded to be reloaded with cash as many times as desired. The added value of the convenience and safety of a prepaid card that is not tied to the traveler’s personal bank account and is replaceable overnight has driven steady adoption of this product.
Travelex CashPaxTM Pre-set Foreign Currency Packs Now Available
Travelex CashPaxTM is a wallet-sized pack of foreign currency that eliminates the calculations previously required for foreign currency transactions. These packs provide traveling customers with enough foreign currency to pay for taxis and other immediate cash transactions. Other benefits include:
- Built-in profit margin set by financial institutions.
- Simplified accounting of pre-set foreign currency packs.
- Provides added value and service to banking customers.
The Travelex CashPax include small denominations of paper money as well as coins in bundles of $100 or $250. They are available in Canadian Dollars, Euros, Australian Dollars, British Pound, Japanese Yen, US Dollars and Mexican Pesos and are available for sale at financial institutions across North America.
“Travelex is involved in all aspects of foreign currency transactions and is pleased to be recognized as a leader,” said Christopher Russell, Travelex’s Executive Vice President of Outsourcing, Americas. “Travelex is driven to continue to innovate and to help all our partners in their continued success.”
About Travelex:
Travelex is the world's foreign exchange and business payments specialist, operating through subsidiaries and branches in these regions: the Americas, United Kingdom; Europe, Asia Pacific; and Middle East and Africa (EMEA).
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 to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.