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Beyond the Transaction: Every Transaction Has a Story

Check Your “Check” at the Gate: Prepaid is the Only Way to Fly

The fluctuations in the economy may change a lot of things, but one thing that remains the same is the need to explore new places and experience new cultures.  But travel these days can be quite a hassle – from long security lines to airline extra everything fees – the last thing you want to worry about is carrying cash.

Wouldn’t it be great to have a prepaid card that could be used around the world that is safer and more convenient than carrying cash?  That is where MasterCard and Travelex come in.  Today we mark the close of our acquisition of Travelex’s Prepaid Card Program Management assets – so what does that mean?  It’s about making your cross-border travel easier.  You can read the press release for more details, but what we’ve done is expand our capabilities to deliver consumer and corporate prepaid travel cards to people around the world, including through financial institutions, retailers, travel agents and foreign exchange bureaus.

Prepaid cards provide consumer and business travellers a payment option that eliminates the need for currency exchange and the frustration of travellers’ checks (yes these dinosaurs still exist..) or cash.  There are great reasons why prepaid is the best way to go while travelling, here are a couple:

  • There were over 9.8 billion outbound and domestic trips in 2010 according to the World Travel Trends Report from IPK International—that’s why ensuring easy access to money and safeguarding it while abroad is so important.
  • Simon Calder, Senior Travel Editor of the Independent, recommends prepaid cards to transport money while travelling, helping avoid pesky fees.

Combining MasterCard’s global reach with Travelex’s foreign exchange expertise is a natural fit, and together with our new colleagues we can offer a prepaid solutions that can be used in 210 countries, 160 currencies and over 30 million locations – now that’s a lot of ground to cover.