Wirecard Collaborate with Travelex to Launch New Supercard for British Travellers
MUNICH, June 14, 2016
Wirecard and the leading foreign exchange provider, Travelex today announces the launch of Supercard. A new MasterCard® card and app combination for UK travellers to avoid overseas debit and credit card roaming fees and charges when spending abroad. Last year, Travelex introduced Supercard on a pilot basis to help solve traveller spending woes. After a successful pilot, Supercard is now offering the product to the UK public.
Within this cooperation, Wirecard acts as the technical service provider and takes over the whole acquiring processes as well as the risk management. In addition, Wirecard Card Solutions Ltd, a Wirecard Group company, is the issuer of the Supercard.
Supercard connects all existing credit and debit cards in one card solution which will be chip and pin protected. There are no application, registration, administration or usage fees for spending overseas. Customers simply link their credit or debit card via an app to their Supercard – with almost instant updates through the app, travellers can keep track of how much they spend and approximately how much they save. The application process is simple with no credit checks are involved. Plus, they still benefit from any card reward points they usually earn. With Supercard, travellers get the MasterCard wholesale exchange rate. This means Travelex do not add any additional fees or charges when the card is used for spending in other countries. Supercard is accepted wherever MasterCard cards are accepted.
Sean Cornwell, Travelex’s Chief Digital Officer says: “At Travelex we’re on a mission to create innovative financial products to help our customers’ break down the borders that limit them from living internationally. Supercard provides them with the power to remove the boundaries they face when spending abroad, meaning they can travel with the peace of mind of knowing they’re not getting charged fees and charges for spending with their UK bank cards abroad.”
Jack Harris, Vice President Financial Institutions Europe adds “The Supercard product is great news for UK travelers and we are delighted to be collaborating with Travelex, the world’s leading foreign exchange specialist, on its launch. The card solution is highly innovative and Wirecard are providing all aspects of the payment, risk management and processing technology. This launch further highlights Wirecard’s ability to deliver complex and innovative solutions into the Financial Technology arena.”
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products.
Travelex is the world’s leading foreign exchange specialist with more than 1,500 stores and 1,250 ATMs across 29 countries, at key airport, seaport, rail and tourist locations. Over 40% of travellers – 1.7 billion passengers a year – pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Paris, Sydney & Tokyo. Every hour Travelex provides foreign currency to more than 2,000 customers.