"In general, travel money cards give you a better exchange rate than other travel money providers, on average 8% better than exchanging at airports, 4% better than travellers cheques and 5% better than a bureau de change"

The article also explains how easy it is to use the cards:

"The deal with prepaid chip and pin cards is that you load up with currency before you go (normally a choice of euros, dollars or sterling), rather like a pay-as-you-go mobile phone, and then use it abroad to pay for goods and services, and withdraw cash from ATMs.

You cannot spend more than the balance on the card, so they are useful in helping people stick to a budget. Prepaid travel money cards can also be easily reloaded online (handy for parents whose gap-year kids run out of money), by phone and in some cases by text message."

Read the article...
Source: www.guardian.co.uk (featured in Guardian Money)

The company's delivery and fitting staff now use CorporatePay's Prepaid MasterCard Expense Cards to cover their costs on the road. The cards, which can be used anywhere the MasterCard Acceptance Mark is shown, are loaded with funds and used to pay for hotels, fuel and other expenses which staff incur whilst delivering and fitting furniture for their clients.

Roomservice by CORT controls expenses centrally via CorporatePay's online system, allowing funds to be moved on and off cards, transactions to be monitored and new cards to be created simply and efficiently. Card holders can also check their balances and transactions online free of charge, or via the CorporatePay text service.

Read the full article... (PDF 69KB)

The cards can be used anywhere the MasterCard Acceptance Mark is shown and will save Anglia Battlefield Tours time and money by reducing the administration effort required to monitor expenses as well as through CorporatePay's favourable exchange rates.

The company simply needs to load the cards with funds to cover their tour guides' expenses, via an easy to use online system.

Read the full press release... (PDF 68KB)

The new card, aimed at tourists, expats and business travellers, has distinct advantages over existing cards on the market, it is:

• Free to obtain
• Free to load, with no maintenance fees
• Secured with Chip and PIN technology

And as you would expect from Currencies Direct, the card offers competitive exchange rates.

The card, developed by Currencies Direct and payment processor CorporatePay, is issued by Newcastle Building Society and accepted in millions of hotels, restaurants, ATMs, bars and shops throughout the Euro zone where the MasterCard acceptance mark is displayed.

Read the full press release... (PDF 99KB)
Source: Bell Pottinger Group

CorporatePay, a UK-based provider of corporate, public sector and consumer pre-paid card programmes, has entered into a partnership with the Small World Financial Services to provide a pre-paid MasterCard card.

Small World is a money transfer operator in Europe, sending money to over 100 countries worldwide through a number of brands, including LCC, UNO Money Transfer, Global Link International, Express Funds, Universal de Envios and Bayba.

CorporatePay said that the first card programme, issued through Newcastle Building Society, will go live in March 2009 carrying the LCC brand and will be distributed through LCC's UK network of branches and agents, soon to be extended to its website.

Read the article...
Source: cards.banking-business-review.com (Banking Business Review)

Small World has quickly grown to be one of the largest money transfer operators in Europe, sending money to over 100 countries worldwide through a number of brands, including LCC, UNO Money Transfer, Global Link Inernational, Express Funds, Universal de Envios and Bayba.

The first card programme, issued through Newcastle Building Society, will go live in March 2009 carrying the LCC brand and will be distributed through LCC’s UK network of branches and agents, soon to be extended to its web site.

Myles Stephenson, CEO of CorporatePay commented:

“Small World is an exciting group with impressive international growth. This prepaid card will be a great benefit to many of their customers; it will give them access to simple functions such as being able to share, spend and withdraw money.

Read the article...
Source: www.allpaynews.com (ALL PAY NEWS)

The Currency Exchange Site will support CorporatePay’s my Travel Cash products through its ongoing promotion of currency cards as a safe and cost-effective way to take money overseas, as well as directly promoting my Travel Cash’s euro and dollar currency cards as a MTC affiliate. 

This relationship will allow CorporatePay to leverage The Currency Exchange Site’s position as one of the few travel money-focused comparison sites in the UK market.  The website allows users to browse FX rates and fees for prepaid currency cards (USD, Euro and GBP cards) as well as travel money, and travellers cheques alongside recommendations and tips for saving money while abroad.

Do you want a 10 per cent discount on your next weekend away, no strings attached? With planning and basic web-savvy, that's how much you could save if you currently buy your spending money in high street or airport bureaux de change. Even habitual credit and debit-card travellers could secure savings of about five per cent.

In recent months, the popularity of prepaid foreign currency cards has increased. This new breed of plastic combines the budgeting advantage of travellers' cheques with the flexibility and security of a credit card.

Getting hold of one is easy for anyone with a UK bank account. Apply online, choose the currency in which you'd like your card denominated (euros, dollars), load it with funds from your current account and wait for it to drop through the letterbox (typically less than two weeks later).

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Source: www.telegraph.co.uk (The Telegraph)

MyTravelCash is a prepaid MasterCard available in euros and US dollars.

Endacott got involved with the company after On Holiday Group began discussing possible business opportunities with CorporatePay.

He was then approached by CorporatePay chief executive Myles Stephenson to help expand MyTravelCash within the trade.

Endacott said his background as a director at MyTravel and Going Places means he understands the foreign exchange market.

He added: ‘The complexity of handling physical cash, combined with the logistical problems in delivering cash to customers, initially led me to rule it out as an option for On Holiday Group’s online business model.

Read the article...
Source: www.e-tid.com (Travel and Hospitality Industry Digest)

It will be launched on June 15 by pre-paid card provider CorporatePay, which claims it can undercut other cards' charges because it does not have the costs of bricksand-mortar foreign exchange bureaux and staff. It will be a rival to existing pre-paid holiday cards, such as the one recently launched by Thomson and First Choice.

MyTravelCash will target independent agents, including dynamic packaging specialists, to sell the cards to consumers online. Agents will be paid commission to direct customers from their websites to the MyTravelCash website to order the cards.

Talks will be held with highstreet agents regarding stocking the cards in their shops. The company hopes to sell 50,000 cards in the fi rst year. Steve Endacott, non-executive director for CorporatePay, said online and independent agents were missing out on a sizeable income by not selling foreign exchange. He claimed high-street multiples can earn around a third of their income from foreign exchange sales. He estimated £1,200-£1,400 is spent per party during a seven-night holiday. With about five million passengers thought to buy a dynamic package each year, he estimated there was about £2.5 billion in turnover to be made.

He said:

“Most people spend as much money on holiday as they spend buying the holiday.” 

Read the full press release... (PDF 846kb)
Source: Travel Weekly