A UK high street travel agent wanted to assess the feasibility of offering a prepaid travel card alongside their foreign exchange currency.
The brief was clear. They knew how much they made in the sale of £600 worth of Euro's or US Dollars.
Their questions were;
- What are the benefits of a prepaid travel card over cash or travellers cheques?
- What would be the financial return for a prepaid travel card in comparison?
- Could they control the foreign exchange rate?
- What would be the sales process of offering a prepaid card?
- What would be required to launch the product?
- Are the cardholder funds safe?
- What liability would the travel company have in relation to anti-money laundering and FSA regulations?
- How much will it cost and how soon can it be launch.
The Travel Company launched their travel card in May 2009 and recruited over 350K cards before Christmas that year adding over £10m to their bottom line on the same level of FX transactions.
Find out more by contacting us on mail@prepaidconsulting.co.uk or call one of us on +44 (0) 7525 067 297.
