Tuxedo Money Solutions, a leading payment technology provider has launched a new instant-issue line of Escape Travel Money Prepaid MasterCard® Cards, allowing travel agents to sell currency cards, which are immediately activated for use the same day.
Escape is a prepaid travel card programme, which integrates with travel agents’ internal sales software to offer customers a simple, safe and cost-effective way to manage overseas spending, and enables agents to generate an additional revenue stream through attractive commission payments.
A typical personalised card transaction would involve pre-ordering a currency card, before issuing to the customer’s address within approximately 7-10 days. Recognising the need for immediacy, Tuxedo developed the software to allow customers to purchase a currency card available for use the same day*.
In 2014, More than 1.6 million travellers bought their foreign currency at British airports on the same day of travel, showing forward planning for this kind of purchase is low down on the list of priorities for holidaymakers.
Instant gratification is now vital to the customer experience; thanks to online shopping and convenience stores, consumers have grown accustomed to immediacy and limitless supply of products. The concept of brand loyalty is being eclipsed by this demand for immediacy because consumers no longer have the time to spend waiting for an item to come in to stock or for their order to be processed – they will simply go elsewhere.
John Sharman, CEO of Tuxedo comments: “Consumers can order an Escape branded prepaid card and in seconds receive an encoded and activated card to use immediately*. Our eccount technology offers a secure website from which to manage funds and also protects the balance in the event the card is lost or stolen.
He continues “We expect businesses to see a minimum increase of 100 per cent in sales of the Escape Travel Money Prepaid MasterCardCards,thanks to instant issue, because the user experience of ordering and loading travel cards is now totally seamless and fuss-free.”
The programme eliminates the need to input customer information multiple times, creating a single basket transaction process. Not only does the streamlined system make the process of selling a prepaid card as quick and as simple as selling currency, it is safer and more traceable for consumers to use than currency, while simultaneously generating additional revenue for the agents via commission earned on every sale.
Sharman says: “We are passionate about making payments smarter and delivering seamless solutions that respond to current market trends. Instant issue is a perfect example of Tuxedo’s flexibility as a technology specialist, and it’s this forward-thinking attitude that keeps us at the forefront of corporate payment solutions. We can adapt to the requirements of each business and offer propositions that are bespoke to the individual.”