Travelex reports surge in prepaid travel card popularity
Travelex, a leading foreign exchange brand, has experienced significant growth in its prepaid Travelex Money Card, outpacing industry forecasts.
Between January and May, Travelex saw a 49% increase in reload transactions and a 50% increase in card reload penetration.
This surge in customers choosing Travelex's prepaid card product outpaces Allied Market Research's forecast of a 15.3% CAGR in the prepaid travel money card market between 2023 and 2032.
Additionally, Travelex has seen a 10% year-on-year increase in conversion rate in its TMC app, attributed to the company's relaunching of the app last year.
The UK app allows customers to add up to 22 currencies, check their balance, view card details, and freeze and unfreeze their cards for instant protection.
"Travellers want to access, top-up and manage travel money in a secure and reliable way. Our prepaid Travelex Money Card enables customers to easily budget, get competitive Travelex rates and spend whenever and wherever' said Simon Jackson, Chief Customer Officer at Travelex.
'We're delighted that our new Travelex Money Card app has been a major driver of Travelex Money Card growth. The app offers customers a fast and seamless top-up experience, making it even easier to spend safely abroad,' added Jackson. -TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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