Rev Worldwide, a payment innovations company, and Travelex, the world's leading foreign exchange specialist, have announced the launch of The Travelex NiHao Card, a reloadable prepaid travel card in association with UnionPay International.
The Travelex NiHao Card is an instant-issue reloadable UnionPay prepaid product now available over the counter at all Travelex branch locations throughout Hong Kong, and is accepted at over 9.5 million retail merchants, and online, plus over 500,000 ATMs throughout China.
The Nihao Card launch in Hong Kong marks the first Rev processed UnionPay card. Rev and UnionPay International previously announced a partnership focused on innovative travel product expansion opportunities.
"We know from our cash sales that China has always been a key destination for Hong Kong travelers so we're thrilled to be able to launch this product in time for China's biggest holiday of the year," said a Travelex spokesperson.
When it comes to travel from Hong Kong, there are over 1,000 flights daily to over 180 destinations around the world, including 45 in China, making it the ideal travel gateway city for international travelers within Asia. Hong Kong sees almost 63.4 million departures to international destinations per year, and 96.5% of those departures are to China, Macau and other nearby Asian destinations. Additionally, Hong Kong travelers are some of the biggest spenders in the world, with an estimated $22.8 billion (US) spent on international travel-related expenses in 2014, making Hong Kong the 4th largest outbound travel market in Asia, according to the World Tourism Organization (UNWTO).
As the technology partner and processor behind the NiHao Travel Card, Rev brings a proven payments processing platform for delivering innovative travel products around the world. Travelex distributes and markets the product directly to consumers.
"This is an important development for us, beyond the launch of another innovative travel card, in that we are launching our first product intended for broad usage within China," said John Mitchell, Chief Executive Officer, Rev Worldwide. "We are proud to partner with Travelex as consumers have great trust in ththeir brand for this type of product."