Travelex launches 'Supercard' to cut fees for cardholders travelling abroad
14 June 2016 | 7547 views | 1
Travelex is partnering with Germany's Wirecard to launch a new card and app combination for UK travellers to avoid overseas debit and credit card roaming fees and charges when spending abroad.
Supercard connects all existing credit and debit cards into a single chip and PIN-protected Mastercard, issued on behalf of Travelex by Wirecard, which provides the back-end technical routing, risk management and acquiring process.
Customers link their credit or debit card via an app to their Supercard - and receive instant updates through the app on how much they spend and savings incurred. Users get the MasterCard wholesale rate and retain reward points on the cards they use by proxy.
The product is not unlike the bundled single card concept promoted by UK startup Curve, which also uses technology provided by Wirecard.
The full-scale launch of Supercard in time for the summer holiday season follows a pilot trial conducted last year.
Sean Cornwell, Travelex's chief digital officer says: "Supercard provides (our customers) with the power to remove the boundaries they face when spending abroad, meaning they can travel with the peace of mind of knowing they're not getting charged fees and charges for spending with their UK bank cards abroad."