Travelex, the world's foreign exchange specialist, has chosen to partner with Retail Decisions (ReD), a card issuer and a world leader in card fraud prevention and payment processing, for the provision of fraud prevention services for its ever-popular Cash Passport product.
The Travelex Cash Passport is a prepaid travel card that stores foreign exchange. Two versions of the card exist in Australia; ATM only use, for the ability to withdraw local currency at more than one million Visa ATMs, or a debit card version that offers ATM usage and direct payment to millions of merchants worldwide.
Travelex Cash Passport is available in Australia from Travelex shops at all major airports, more than 3,200 Australia Post outlets, Adelaide Bank and many more retailers. There are now more than 600,000 Australian Cash Passports in circulation and since April 2007, Australia Post has sold more than 11,000 Cash Passports. According to Travelex, total Cash Passport transactions in Australia are now worth in excess of $16 million. Carl Clump, CEO , Retail Decisions, said: “We’re delighted that Travelex has chosen ReD PRISM to monitor card usage patterns and detect and reduce fraud on the Cash Passport. On any given day ReD PRISM scores 35 to 50 million transactions for the largest card issuers and payment processors in the world, and alerts clients if a card is in breach of its established use.”
Peter Jackson, Head of Fraud & Risk Management, Travelex, said: “The Cash Passport product is really taking off with consumers so it was the right time to strengthen our fraud prevention. “In the last 12 months, Travelex has issued thousands of Cash Passports around the world with 50% growth in Australia . After a thorough procurement process, we choose ReD PRISM, a fully hosted service that offers the internationally focused capability we require and an intuitive workflow based approach. The delivery of the overall solution, and ReD’s responsiveness to our requirements, have been outstanding. Travelex is committed to combating the threat of fraud throughout its travel money products and this solution strengthens Cash Passport, whilst reducing internal costs.” Travelex joins an impressive list of ReD’s blue chip travel related clients that include; Opodo, Thomas Cook, Travelocity, Hotwire and Harvey World Travel.
About Retail Decisions
Retail Decisions (ReD) is a payment card issuer and world leader in card fraud prevention and payment processing. A specialist supplier to the payments industry worldwide, ReD has a proven track record of 19 years experience. ReD’s card issuing operations consist of fuel cards and prepaid cards divisions. Its blue-chip international clients come from the telecommunications, retail, travel, petroleum, logistics, banking and the broader e-commerce sectors. They include Coles Group, Woolworths, Wal-Mart, Macy’s, Bloomingdale’s, Tesco, Texaco, Shell, Asda, Comet, Travelocity, T-Mobile and Virgin Mobile. Based in the UK , the company has offices in the United States , Australia and South Africa with representation in Japan and South America . More information about ReD is available at www.redplc.com
About Travelex Travelex is the world's foreign exchange and international payments specialist. Operating through subsidiaries and branches in four regions: the United Kingdom ; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific. As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers it provides products including its prepaid travel card Cash Passport to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.
About Travelex Cash Passport
Travelex Cash Passport is a prepaid card available in four currencies in Australia : AU$, US$, EUR and GBP with other currencies launching soon. Travelex is the largest distributor of prepaid travel cards in the world. Its Cash Passport product is available from Australia Post, National Australia Bank, Bank of Queensland, Suncorp Bank, many Credit Unions and Building Societies including Heritage Building Society, all major Travel Agents and directly from over 700 Travelex shops www.travelex.com www.cashpassport.com. The Cash Passport debit card is issued by Heritage Building Society Limited ( ABN 32 087 652 024, AFSL No 240984)
About ReD Prepaid Cards ( Australia )
ReD is Australia ’s largest provider of prepaid cards to the Australian market. Services include the provision of electronic gift cards and vouchers, reward programs and refund cards, as well as a full range of corporate services. Its blue-chip international clients come from the mass and specialty retail, grocery, petroleum, services, travel and entertainment sectors. ReD’s impressive list of blue chip prepaid card clients include: Woolworths, Coles Group, Myer, Danks Group (includes Home Timber & Hardware, Thrifty-Link Hardware & Plants Plus Garden Centres), Dymocks, Mitre 10, Brazin (includes Bras N Things, Diva, HMV, Sanity & Virgin Music), Flight Centre and Country Road . For retailers there are a number of benefits from implementing a prepaid card program. These include a significant lift in sales revenue, a much improved customer experience, an improved brand proposition, as well as significant improvement in reporting and management of information and fraud prevention. Prepaid cards strengthen the consumer relationship with the brand for repeat purchasing and increase financial and operational control, whilst reducing internal costs. ReD offers www.giftvouchers.com, the first internet gift voucher service to launch in Australia and New Zealand back in 1999. It enables consumers to buy third party retailer gift vouchers and giftvouchers.com SUPERVOUCHERS via the internet that can be redeemed in-store, or on-line at retailers' web sites. www.giftvouchers.com features many of the top retailers across Australia and New Zealand covering an array of goods and services in categories ranging from outdoor/adventure to books, music and fashion. Contacts:
Graham White or Anne Flanagan