Cash Passport Prepaid Currency Cards provide travellers with peace of mind
TORONTO, June 26, 2013 /CNW/ - MasterCard Canada and subsidiary Access Prepaid
Worldwide today announced the launch of Cash Passport™ Prepaid MasterCard
Currency Card, in time for Canadians travelling locally or abroad this summer.
The Cash Passport will change the way you think about your money when
travelling. It allows you to pre-load your travel money for safe and
convenient use at millions of ATMs, shops and restaurants worldwide. For
travellers, prepaid cards are a more secure alternative to the once-popular
Travellers Cheque or large sums of cash.
According to a recent study conducted by Leger Marketing on behalf of
-- Eighty-four per cent of Canadians have travelled within the
past 12 months, either for business or leisure.
-- On average, Canadians are spending $3,915 during their leisure
travels outside Canada; a sum of money large enough to create a
noticeable bulge in anyone's wallet.
-- Fifty-nine per cent of Canadians obtain cash in the local
currency in advance of their trip and 34 per cent of Canadians
obtain cash in the local currency while travelling.
If you lose your Cash Passport or it is stolen, simply calling a toll-free
number will help protect the funds on the card. Conversely, when cash is lost,
it is not replaceable.
"We develop innovative ways to make paying for travel a seamless experience,
and the Cash Passport delivers a convenient, budget-friendly way for Canadians
to manage their money while travelling locally or abroad. Canadians looking to
get on the road should feel comfortable knowing their cash is stored securely
on the prepaid Cash Passport," said Tom McTague, VP, Prepaid at MasterCard
The Cash Passport offers travelers the following benefits:
-- Security - The card is secured with the latest chip and PIN
technology. With the benefit of Global Assistance, if your card
is lost or stolen, the 24/7 Card Services team can arrange free
replacement cards or provide emergency cash up to the available
balance on your card. Additionally, the card is not connected
to your bank account, which creates a barrier to identity
-- Budget Control - The Cash Passport is all about putting you in
control of your travel money. Straightforward pricing and
up-front foreign exchange means you'll know exactly what it
costs to get and use the card. When you have pre-loaded foreign
currency on to your Cash Passport you will not be subject to
fluctuating exchange rates throughout your trip.
-- Balance Checks - Never worry about the availability of your
funds. You can check the balance on your Cash Passport any time
by phone or online.
-- Reloadable - Simply take your Cash Passport and valid ID to a
participating branch of the travel agent or retailer where you
bought it within Canada, and they will reload your Card for you
or by telephone.
-- Flexible - What you don't spend you can save for your next
-- Prepaid Convenience - Withdraw local currency at millions of
ATMs worldwide or pay for goods and services at retailers
globally wherever the MasterCard® Acceptance Mark is displayed.
"Canadians look to CAA for guidance on how best to travel safely, securely and
conveniently," said Brenda Kyllo, Vice President of Travel Services, Canadian
Automobile Association. "We sell the Cash Passport because it's a great travel
tool that gives our Members easy, secure access to their funds wherever they
Steve Grigg, President at Access Prepaid Worldwide stated: "Not only does it
provide a safe and secure way to carry your travel money, it has the back-up
of our in-house team of friendly and expert staff 24/7."
Cash Passport MasterCard cards can be purchased at participating CAA stores,
Travelex, ICE and Marlin Travel. Fees and limits vary between cards. For
information please visit www.cashpassport.com.
MasterCard Cash Passport is issued by Peoples Trust Company pursuant to
licence by MasterCard International. MasterCard and the MasterCard Brand Mark
are registered trademarks of MasterCard International.
About MasterCard Worldwide MasterCard NYSE: MA, www.mastercard.com, is a
technology company in the global payments industry. We operatethe world's
fastest payments processing network, connecting consumers, financial
institutions, merchants, governments and businesses in more than 210 countries
and territories. MasterCard's products and solutions make everyday commerce
activities - such as shopping, traveling, running a business and managing
finances - easier, more secure and more efficient for everyone. Follow us on
Twitter @MasterCardNews, join the discussion on the Cashless Conversations
Blog and subscribe for the latest news.
About Access Prepaid Worldwide
Access Prepaid Worldwide provides business partners globally with fully
outsourced prepaid cardprogramme management solutions. Leveraging the
MasterCard, Visa & CUP networks, Access delivers consumer and corporate
travel, payroll and foreign currency prepaid card programmes to a diverse set
of partners including financial institutions, travel agents, retailers, bureau
de change operators, blue chip corporations and airlines. Access utilises both
the in-house transaction processing capabilities of MasterCard's IPS platform
as well as relationships with third party processors; whilst alsooperating
aglobal assistance 24/7 customer support centre and providing total card
lifecycle support for its customers andcardholders alike. Access Prepaid
Worldwide is a MasterCard Worldwide Business.
Media Contact: Leslie Jackson Leslie.Jackson@ketchum.com (416) 355-7421
Lauren Mostowyk Director, Corporate Communications, MasterCard Canada
Lauren_mostowyk@mastercard.com (416) 365-6697
SOURCE: MasterCard Canada
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-0- Jun/26/2013 15:48 GMT
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