Cash Passport Prepaid Currency Cards provide travellers with peace of
TORONTO, June 26, 2013 /CNW/ - MasterCard Canada and subsidiary Access Prepaid Worldwide today announced the launch of Cash Passport™ Prepaid MasterCard Currency Card, in time for Canadians travelling locally or abroad this summer. The
Cash Passport will change the way you think about your money when
travelling. It allows you to pre-load your travel money for safe and
convenient use at millions of ATMs, shops and restaurants worldwide.
For travellers, prepaid cards are a more secure alternative to the
once-popular Travellers Cheque or large sums of cash.
According to a recent study conducted by Leger Marketing on behalf of
Eighty-four per cent of Canadians have travelled within the past 12
months, either for business or leisure.
On average, Canadians are spending $3,915 during their leisure travels
outside Canada; a sum of money large enough to create a noticeable
bulge in anyone's wallet.
Fifty-nine per cent of Canadians obtain cash in the local currency in
advance of their trip and 34 per cent of Canadians obtain cash in the
local currency while travelling.
If you lose your Cash Passport or it is stolen, simply calling a
toll-free number will help protect the funds on the card. Conversely,
when cash is lost, it is not replaceable.
"We develop innovative ways to make paying for travel a seamless
experience, and the Cash Passport delivers a convenient,
budget-friendly way for Canadians to manage their money while
travelling locally or abroad. Canadians looking to get on the road
should feel comfortable knowing their cash is stored securely on the
prepaid Cash Passport," said Tom McTague, VP, Prepaid at MasterCard Canada.
The Cash Passport offers travelers the following benefits:
Security - The card is secured with the latest chip and PIN technology. With the
benefit of Global Assistance, if your card is lost or stolen, the 24/7
Card Services team can arrange free replacement cards or provide
emergency cash up to the available balance on your card. Additionally,
the card is not connected to your bank account, which creates a barrier
to identity theft.
Budget Control - The Cash Passport is all about putting you in control of your travel
money. Straightforward pricing and up-front foreign exchange means
you'll know exactly what it costs to get and use the card. When you
have pre-loaded foreign currency on to your Cash Passport you will not
be subject to fluctuating exchange rates throughout your trip.
Balance Checks - Never worry about the availability of your funds. You can check the
balance on your Cash Passport any time by phone or online.
Reloadable - Simply take your Cash Passport and valid ID to a participating branch
of the travel agent or retailer where you bought it within Canada, and
they will reload your Card for you or by telephone.
Flexible - What you don't spend you can save for your next trip.
Prepaid Convenience - Withdraw local currency at millions of ATMs worldwide or pay for
goods and services at retailers globally wherever the MasterCard®
Acceptance Mark is displayed.
"Canadians look to CAA for guidance on how best to travel safely,
securely and conveniently," said Brenda Kyllo, Vice President of Travel
Services, Canadian Automobile Association. "We sell the Cash Passport
because it's a great travel tool that gives our Members easy, secure
access to their funds wherever they are."
Steve Grigg, President at Access Prepaid Worldwide stated: "Not only
does it provide a safe and secure way to carry your travel money, it
has the back-up of our in-house team of friendly and expert staff
Cash Passport MasterCard cards can be purchased at participating CAA stores, Travelex, ICE and Marlin Travel. Fees and limits vary between cards. For information please visit www.cashpassport.com.
MasterCard Cash Passport is issued by Peoples Trust Company pursuant to
licence by MasterCard International. MasterCard and the MasterCard
Brand Mark are registered trademarks of MasterCard International.
About MasterCard Worldwide
MasterCard NYSE: MA, www.mastercard.com, is a technology company in the global payments industry. We operate the
world's fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard's products and solutions
make everyday commerce activities - such as shopping, traveling,
running a business and managing finances - easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
About Access Prepaid Worldwide
Access Prepaid Worldwide provides business partners globally with fully
outsourced prepaid card programme management solutions. Leveraging the
MasterCard, Visa & CUP networks, Access delivers consumer and corporate
travel, payroll and foreign currency prepaid card programmes to a
diverse set of partners including financial institutions, travel
agents, retailers, bureau de change operators, blue chip corporations
and airlines. Access utilises both the in-house transaction processing
capabilities of MasterCard's IPS platform as well as relationships with
third party processors; whilst also operating a global assistance 24/7
customer support centre and providing total card lifecycle support for
its customers and cardholders alike. Access Prepaid Worldwide is a
MasterCard Worldwide Business.
SOURCE: MasterCard Canada
For further information:
Lauren Mostowyk Director,