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Welcome to the News View for "Travelex".

Here, on these archive pages, you'll find all of the articles on Payments News for Travelex listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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November 01, 2011

October 18, 2011

Travelex Acquires Pay 24-7 Online Payments Technology for Universities

Travelex logo 140pxTravelex Global Business Payments has announced the acquisition of Pay 24-7, "online payments technology used by leading universities and higher education institutions in the UK, North America, Europe and Asia. The online payments technology is specifically designed to reduce the banking and the administrative cost associated with collecting fees from overseas students and enables a speedier payments process for both the student and university."

August 24, 2011

Travelex and Bean Services Partner on End-to-End Payables Processing

Travelex logo 140pxTravelex Global Business Payments and Bean Services, an "award winning Software-as-a-Service (SaaS) Accounts Payable Automation solution, today announced a partnership intended to provide companies with streamlined end-to-end payables processing."

June 06, 2011

Travelex GEO Launches Renminbi Payments into China

Travelex logo 140pxTravelex Global Business Payments has announced that "their business customers will now be able to trade in Chinese renminbi through Travelex’s unique GEO Global Clearing Network. Travelex will be the first non-bank Payments Specialist to offer business transfers in renminbi, the official currency of the People’s Republic of China."

December 09, 2010

MasterCard Acquires Travelex’s Prepaid Card Program Management Assets

MasterCard_logo_140px.pngMasterCard has announced that it purchased the prepaid Card Program Management (CPM) operations of Travelex for US$458 million in cash, with an earn-out of up to an additional US$55 million if certain performance targets are met.
MasterCard is acquiring the Travelex operations that manage and deliver consumer and corporate prepaid travel cards to business partners around the world, including financial institutions, retailers, travel agents and foreign exchange bureaus. These operations also manage cross-border payroll, per-diem and expense-management prepaid cards for corporations. MasterCard has no plans to issue cards directly as a result of this transaction.
As part of the transaction, MasterCard and Travelex signed a long-term contract whereby MasterCard will provide program management services for the Travelex Cash Passport prepaid card sold through Travelex stores and online channels.

December 01, 2010

Travelex Offers America’s First Chip & PIN Enabled Prepaid Foreign Currency Card

travelex_logo_140px.png Travelex has announced availability of "America’s first prepaid foreign 'currency cards' available in Euros and British Pounds that utilizes chip & PIN technology." Travelex’s new Chip & PIN Cash Passport™ MasterCard provides Americans traveling abroad with technological compatibility with overseas merchants that have migrated towards chip-based transactions. The card will also include a traditional magnetic stripe, for those merchants not yet using Chip & PIN technology.

November 30, 2009

Travelex, Monitise to Develop Mobile Services

Travelex has announced an 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 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 are 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. READ MORE »

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