Elite Travel Group chooses Tuxedo to offer new product for agents
The Elite Travel Group, a consortium of independent travel agents, has partnered with Tuxedo Money Solutions, a leading prepaid card provider, to offer its members a compelling additional product to sell to their customers; The Tuxedo Travel MasterCard® Prepaid Card. Holidaymakers and business travellers are increasingly looking for safe and convenient ways to control and protect their holiday spending – this new prepaid travel card offers a simple solution.
Travel currency cards are one of the fastest growing methods of spending money overseas, due to the security and convenience of a prepaid format. Elite Travel Group has recognised this growing trend as an opportunity for its members to offer customers an attractive spending method; which will drive customer loyalty and additional revenue. The opportunity for additional revenue has proved exceptionally popular with existing travel agents with revenues reported to be over double what has been achieved in travel insurance sales.
The Tuxedo Travel MasterCard® Prepaid Card allows travellers to use their card worldwide as it is loaded with sterling* and then it is converted to the local currency when a customer makes a transaction on the card. The card will allow consumers to hold up to £5,000 in a secure online eccount®. From the eccount funds can be safely moved to the card by text message (fees may apply), via the internet or phone, when required.
Tuxedo offers its customers the eccount facility where funds are safely held and released to their cards. The eccount or card balances can be checked 24 hours a day. Customers can also instantly block or cancel their card if it is lost or stolen. Free SMS alerts are sent when the card balance is low and needs topping‐up.
Travel card benefits for customers:
- A convenient alternative to travellers cheques
- A secure alternative to carrying large sums of cash
- Chip and PIN secure
- Block or unblock the card instantly online or via SMS
Based on a MasterCard prepaid platform, the travel cards are not linked to a bank account, reducing the risk of ID theft and there are no credit checks. Customers simply purchase a card from the member’s point of sale for £19.95, activate their Money Card account online and top it up with funds. Consumers can also have up to two cards registered on the same eccount. The extra card will only cost £4.99 and is a convenient way for both holidaymakers and business travellers to look after their money.
Robert Grinsell, director of Elite Travel Group, says “We have chosen to work with Tuxedo Money Solutions to offer our members a leading travel card that will not only provide value for their customers and drive loyalty but also create an additional revenue stream. Travellers will benefit from a safe and cost effective way of spending abroad without being charged a transaction fee each time they spend, whilst the members business generates revenue when the card is used.”
John Sharman, CEO of Tuxedo Money Solutions says;
“We are delighted that Elite Travel Group has chosen Tuxedo as their partner to provide members with prepaid travel cards. Members will benefit from a meaningful additional revenue stream while cardholders will benefit from being able to use their Tuxedo Travel MasterCard® Prepaid Card in over 30 million locations and 1.5 million ATM’s in the UK and abroad where the MasterCard Acceptance Mark is displayed.”
*There are a number of ways to load money including BACS (free), credit card (4% fee), debit card (free) and Paypoint (3% fee)