Providing additional security with Chip and PIN payment ID cards
In partnership with Central Bank of Kansas City (CBKC) and STA Travel, we have launched a new program - the STA Travel ISIC Prepaid MasterCard®. Issued directly to students, the cards can be used wherever Debit MasterCard is accepted, allowing the increasing number of students travelling overseas to travel with just one card.
STA Travel is initially launching the program with high profile universities offering ‘study abroad’ programmes for a number of universities which send hundreds of students every year to cities such as London and Madrid as part of their international programmes.
Sold direct to the consumer and through partnerships with universities, the STA Travel ISIC MasterCard will be accepted at 35 million locations (plus 2 million ATMs). Students and their universities will be able to preload their cards in US dollars and use it internationally with the additional incentive of being able to access over 45,000 ISIC discounts worldwide and 125,000 domestically.
The American market is a prime target for Tuxedo, which brings its expertise to the largest prepaid market in the world. The global payments market has been forecasted to be worth $822bn by 2017, with the US projected to hold 51% of the market share in the same year.
Trent Sorbe, President of CBKC’s Central Payments Division said: “We are pleased to serve as Tuxedo’s issuing partner in the U.S. Our initial program with STA will be a fantastic product for the rapidly rising number of students travelling overseas during their extended holidays and as part of their degree programs. We welcome Tuxedo’s prepaid experience from markets like the UK, Australia, and Dubai and look forward to supporting many programs with them here in the U.S.”
John Sharman, Chief Executive of Tuxedo Money Solutions, leading e-payments specialist, added: “Being a chip and PIN product the STA Travel ISIC MasterCard is the perfect companion for US students travelling overseas. This partnership is a significant part of our global expansion following on from rapid international growth in Europe, Australia and the Middle East over the past 12 months. Our expansion into the American market requires a committed and collaborative issuing partner. We chose the Central Payments team at CBKC because of the stability of their issuing model and its ability to support our aggressive growth plans in the U.S.”
Adam Cooper, Senior Vice President of STA for North America stated that “We are really excited to launch this product with Tuxedo and Central Bank of Kansas City. This is a much needed way for students to safely carry money whilst travelling having the security of Chip and PIN and being able to block the card by SMS should they need to”.
This Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.