RNS Number : 2715D
Monitise PLC
30 November 2009
30 November 2009
Travelex selects Monitise to power mobile money services for its Cash Passport™
Monitise plc ("Monitise" LSE: MONI.L), the mobile money specialists, announces its agreement with Travelex, the global travel and payments group, to launch mobile services for Travelex's 1.75 million global Cash Passport™ cardholders.
The Cash Passport™, a prepaid travel money card available in seven currencies, offers holidaymakers and those travelling on business a secure and convenient way to carry money overseas. Cardholders can use their Cash Passport™ to pay for things and withdraw cash, just as they would with any other card, but without any charges for overseas use.
Travelex and Monitise are developing an application which can be downloaded to the cardholder's handset, allowing them to check their balance at any time, reload the card by mobile and also set up other alerts. The service will launch next year with a low balance alert, reminding cardholders to reload.
Alastair Lukies, Chief Executive Officer of Monitise plc, said:
"Our Mobile Money Manager is already the platform of choice for leading banks and financial institutions globally and we are delighted to be chosen by Travelex to develop mobile services for their Cash Passport™ card.
"Forward thinking companies like Travelex understand that cards and handsets are extremely complementary in the payments space and by offering the convenience of mobile management, their customers can benefit from greater control and financial transparency."
Mark Horgan, managing director of cards and mobile payments at Travelex commented:
"Mobilising our Cash Passport™ is a landmark product development step for us. The prepaid travel card market is growing fast, it is essential that we innovate and bring new, value added services to our cardholders.
"The combination of a secure card serviced from a mobile phone is a powerful proposition which will enable us to grow both our card base and our revenues."
In October this year Cash Passport™ was Highly Commended in the Daily Mirror and Money Facts consumer money awards and was also awarded both the Best International and Best Corporate/Government Prepaid Programme at the 2009 Prepaid Awards. In the UK Cash Passport™ is available from Travelex shops and other retail outlets including Thomas Cook, Co-operative Travel, Tesco, Sainsbury's and Asda.
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Contacts:
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Monitise Group
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Alastair Lukies, CEO
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Tel: 020 7947 4300
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Tom Spurgeon, CFO
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For financial PR enquires
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Financial Dynamics
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Juliet Clarke
Haya Herbert-Burns
Erwan Gouraud
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Tel: 020 7831 3113
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For PR enquiries
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Bell Pottinger Business & Brand
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Adam Powell
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Tel: 020 7861 2514
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Lucy McCartney
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Tel: 020 7861 2507
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Investec (NOMAD to Monitise)
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Patrick Robb
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Tel: 020 7597 4000
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Rowena Murray
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About Monitise
Monitise plc (LSE: MONI.L) has created the world's first mobile money networks, which allow customers of multiple banks and mobile operators to perform banking and payment transactions directly from their mobile handset.
With live services in the UK and in the USA, where it is in partnership with FIS, the company is currently working with international partners to deliver similar safe, secure mobile banking and payment services in territories worldwide. Current key partners include VocaLink, FIS, HSBC, Lloyds TSB, First Direct, Alliance & Leicester, Royal Bank of Scotland, NatWest, Ulster Bank, Visa, Vodafone, Orange, O2, T-Mobile and 3.
www.monitisegroup.com
About Travelex
Travelex is the world's foreign exchange and international payments specialist. Operating through subsidiaries and branches in five regions: the United Kingdom; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific.
As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers; it provides products including its prepaid travel card Cash Passport™ to millions of customers every year. Through its world-leading automation, Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.
www.travelex.com
www.cashpassport.com
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The company news service from the London Stock Exchange
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