HOLIDAY PROVIDERS SET TO REAP REWARDS WITH TUXEDO’S NEW TRAVEL CARD

Tuxedo Money Solutions, one of the UK’s leading prepaid service providers, has launched the Escape Travel Card – a prepaid MasterCard® currency card – designed to deliver significant income potential for partners.

The Escape Travel Card is underpinned by a bespoke programme developed in line with each client’s specific requirements, and enables distributing partners to earn attractive commission payments, whilst offering their customers a simple, safe and cost effective way to manage overseas spending. This new offering boasts numerous benefits for both partners and cardholders setting it apart from competitors.

A travel card is a convenient and safe alternative to carrying cash abroad and cardholders can use the card to make purchases in shops, online or over the phone for free. Tuxedo’s solution allows clients to co-brand or fully white label the card and customer communications, presenting cardholders with a branded travel essential that will remain front of wallet for holidays now and in the future.

Tuxedo’s solution offers a generous commission rate to distributing partners, paid over the life of the card for all loads. It also gives travel agents, tour operators and FX bureaus a compelling alternative for customer promotions and incentives. Rather than giving discounts, free packages or cash back, the cards can be preloaded, not only earning the distributing partner a commission payment on the load but also encouraging uptake and further use.

Sales of the card can be tracked enabling the distributor to expand their database and customer MI. The sale is tracked not only by source but also channel, branch and agent (including homeworker) giving distributors improved performance and channel analysis.

The set up process is simple with minimum disruption to existing business practices or processes and zero or minimal set-up costs. Moreover, there are no hidden fees or load targets associated with the Escape Travel Card.

Perhaps most compelling of all, the lead-time for setting up the card with new distributing partners is only four weeks, ensuring partners and customers alike can start to reap the rewards quickly.

As well as innovative SMS features, such as text to block/unblock and low balance alerts, another advantageous feature of the Escape Travel Card is it’s flexible currency conversion. Unlike many of the competitors, the card is loaded with GBP and conversion is done at the point of use, no matter where the cardholder is in the world. This gives the customer a much more flexible solution as the card can be used in multiple destinations, on the same trip or future holidays, without the need to pay to re-convert currencies. With the current exchange rate providing a five-year high for the pound, this card can promise competitive foreign exchange rates for tourists travelling between countries.

John Sharman, CEO of Tuxedo, said: “We are passionate about making payments smarter and delivering seamless payment solutions. Our new travel card solution has been created to ensure that customers can spend their money abroad safely and manage their card without difficulty, as well as offering our clients an attractive commission opportunity and valuable brand extension.”

Founded in 2006, Tuxedo launched its first prepaid product in 2007 and continues to educate consumers and businesses of the benefits of prepaid solutions. This latest product launch affirms Tuxedo’s growing stature in the marketplace.