Travelex Wins Two Major Prepaid Awards

Honor Recognizes Travelex for International Prepaid Card Program and Airline Compensation Program

Louisville, KY – December 1, 2009 – The 2009 Prepaid Awards have honored Travelex with two awards for “Best International Prepaid Program” for Cash Passport and “Best Corporate Prepaid Program” for Travelex’s Airline Compensation programs. This is the second year for the awards program but the first time Travelex has won.

“Our success comes from listening to the needs of our customers. We think of them first and strive to make products that support easier and more secure travel,” said Tracy Hammock, senior vice-president, Travelex North America Outsourcing. “When our industry colleagues tell us that we are helping to set the standard it is a great honor.”

Cash Passport can be used to withdraw money from ATMs or be used to purchase goods and services in any retailer that accepts Debit MasterCard®. If the card is lost or stolen the balance is protected and is typically replaced within 24 hours and many times quicker than that. Two cards can be purchased with different account numbers that can access the same pool of money so travelers can share cards or have a back-up card should one be lost or stolen. The Cash Passport offers greater security than carrying large amounts of cash and comes with Global Emergency Assistance which offers customers a number to call for assistance 24-hours a day for lost wallets or passports, medical assistance, legal problems and translation assistance.

Travelex’s Airline Compensation Program is being used successfully by several major airlines, such as British Airways, Cathay Pacific and Finnair to use Cash Passport for customer compensation purposes. The prepaid cards are used in lieu of vouchers or other methods used to compensate passengers for cancelled flights or lost luggage. Cash Passport is now being used to compensate 200,000 airline passengers around the world annually. Travelex has developed product technology to deliver as many as 70 million compensation payments a year. 

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