Uses Monitise platform to enable mobile services for 1.75m 'Cash Passport' cardholders.
Cash Passport is a pre-paid money card available in seven currencies, which works like any other card, but without charges for use overseas.
The mobile app lets users check their balance at any time, reload the card by mobile and also set up other alerts. The service will launch next year with a low balance alert, reminding cardholders to reload.
Mark Horgan, managing director of cards and mobile payments at Travelex, said: “This is a landmark product development step for us. The prepaid travel card market is growing fast, it is essential that we innovate and bring new, value added services to our cardholders.
“The combination of a secure card serviced from a mobile phone is a powerful proposition which will enable us to grow both our card base and our revenues.”
Advertisement
