Tuxedo Money Solutions has partnered with travel agent consortium, The Global Travel Group (TGTG), to implement its Escape Travel Money Prepaid MasterCard programme.
Since February, 11 agency members of TGTG have commissioned Tuxedo to integrate the Escape programme. The partnership marks Global’s first venture into the prepaid card market, and is set to deliver significant returns for agents. The prepaid card provider pays a commission rate to member agents on all loads that take place over the life span of a card.
In addition, the company reports a 60% top up rate by customers once the Escape card has been received. Coupled with the stat that the average person now plans 3.2 holidays a year, meaning holiday currency is in demand, there is a strong incentive for agents to sell the card.
Joanne Briggs, relationship manager at Tuxedo, said: “The prepaid card market continues to grow around the world and the value of prepaid cards in consumer travel alone is expected to reach £36billion by 2017. For travellers seeking a safer alternative to carrying cash and a more convenient alternative to traveller cheques, prepaid satisfies the needs of both leisure and business travellers.
"Additionally, technology and innovation is presenting unprecedented opportunities for the prepaid card industry. Travel agents can tap into this profitable market to bring about incremental income, and we wanted to introduce this opportunity to The Global Travel Group.”
For further information visit tuxedomoneysolutions.com or call 020-3219 3103.