Travelex Unveils Corporate Prepaid MasterCard

Travelex, a foreign exchange, insurance and payments specialist, is debuting its Corporate Cash Passport which allows companies to centralize and manage travel budgets. It will also reduce administrative waste, provide auditing capabilities, increase security and ultimately save money.

The card is loadable with U.S. dollars and has the MasterCard Brand Mark and bearing MasterCard protections such as Purchase Assurance Service and Lost Luggage Service. This allows the card to be used anywhere Debit MasterCard is accepted and at ATMs around the world to withdraw cash in local currency.

"According to our research at least a third of business travelers consider their employer's overseas business expenses are too high," said Christopher Russell, Travelex's executive vice president of outsourcing, Americas. "Through the online management tools companies can carefully monitor business travel expenses overseas or anywhere their employees need to travel."

The Corporate Cash Passport transfers funds from the cards to company funds and back again any time during the three-year life span of the card. The card offers control by allowing managers to view exactly how much was spent on given days, watch over employee card funds and keep a check on total expenditure. Card accounts can even be set up with a specific hierarchical structure to better match company loading and management processes.

"Employees will likely notice the difference from previous methods of receiving travel funds right away," Russell said. "They won't have to worry about carrying large amounts of cash or dealing with travelers cheques. Plus, they can check their funds and balances online from anywhere."

Visit www.travelex.com or www.cashpassport.com.


FREE Virtual Event

Pivoting Back to Travel: Phase 4

Are you prepared to guide your clients through the “new normal” of travel? Join us December 15, 2020 from 1pm-2:20pm EST for Pivoting Back to Travel: Phase 4. The upcoming installment of our FREE virtual series will feature presentations from the Cayman Islands, Dominican Republic, and Seabourn on their most up-to-date travel procedures, health & safety protocols they’ve implemented to keep guests safe, activities that are open to visitors, what your clients need to know while on their trip and more! Visit www.pivotingbacktotravel to view the full agenda and register for your FREE pass.

Suggested Articles:

Accor is taking full ownership of sbe’s hotel asset light business and entered an all-share merger with Ennismore. Here's what it means.

Insight Vacations has launched its new 2021-22 Americas collection, including Latin America for the first time. Learn more here.

The USTOA asked when active members anticipate restarting operations in destinations around the world. Here's what they had to say.