TUXEDO SUITS UP FOR A DEAL ‘DOWN UNDER’ WITH STA TRAVEL

Tuxedo Money Solutions to distribute prepaid travel cards worldwide after securing Australian deal.

Leading payment technology and prepaid card provider, Tuxedo, has announced a deal with global travel specialist, STA Travel, to implement its prepaid travel card programs across the globe.

The official travel card partner of STA Travel prepaid cards in the UK since 2008, this extended partnership will see Tuxedo replicate and optimise its UK prepaid card programs in Australia.

Tuxedo secured the deal with STA Travel after working closely with the student travel specialist to develop its STA ISIC (International Student Identity Card) Cashcard in June 2013. A UK first, the card is the only combined affinity and international ID / travel card on the market, designed for students and offering a prepaid cashcard plus an internationally recognised student ID.

The deal signifies the next step in Tuxedo’s relationship with STA, which began in 2008 when the student travel company partnered with Tuxedo to offer the STA Travel MasterCard® Prepaid Card.

The personalized white-label STA Travel card offers customers a convenient alternative to carrying cash, exchanging currency or using travellers’ cheques abroad, while also being a cost-effective way for travellers to withdraw cash rather than using debit or credit cards.

For all card programs, Tuxedo uses its central solution – the eccount® platform – a technology that allows for the management of a full range of prepaid products and services.

As a result of the deal, Tuxedo has recently announced the opening of its first satellite office in Melbourne, Australia, marking the next steps of the company’s plans for global expansion. Its Australian offering will replicate the company’s UK emphasis on smarter payments and prepaid program management.

Tuxedo’s Chief Operating Officer, Stuart Wakefield, said of the announcement: “This is an exciting time for Tuxedo, as we look to extend our reach within the global payment technology market, and we’re glad to be able to announce this major partnership with STA Travel.

“This deal marks a significant step in our six-year relationship with STA, as well as the first step in our plans for expansion on an international scale, and we look forward to what we hope will continue to be a mutually beneficial partnership in the coming years.”

Paul Maine, Chief Commercial Officer, at STA Travel Group, said: “With its commitment to innovation and expertise in the field of prepaid technology, Tuxedo was the obvious choice for us when we first decided to launch our prepaid travel cards for the student market. We are pleased to be able to partner with them in order to facilitate the Australian expansion of the card.”

Earlier this year, and building on the success of its partnership with STA Travel, Tuxedo also took the title of ‘Best New Prepaid Product of the Year’ at the Card and Payments Awards 2014, for its delivery of the STA ISIC Cashcard program.