Travelex launches prepaid MasterCard currency exchange card

The largest non-bank foreign exchange currency provider Travelex announced this week the launch of the first in the US prepaid foreign “currency cards” available in Euros and British Pounds that utilizes chip & PIN technology.

With Travelex’s new chip & PIN Cash Passport™ MasterCard American consumers will be able to make their payments using a Personal Identification Number (PIN). The card is PIN and signature protected and is not connected to the cardholders’ bank account, thereby minimizing the risk of identity theft in the event the card is lost or stolen. The card will also still include a traditional magnetic stripe, for those merchants not yet using chip & PIN technology.

Travelex’s chip & PIN Cash Passport™ allows leisure travelers to pre-load travel money onto a reloadable card for convenient use in millions of ATMs, shops and restaurants worldwide where MasterCard is accepted.

Cash Passport can be loaded and reloaded with a choice of two currencies: euro and British Pound Sterling. In addition, the Cash Passport comes with 24/7 Global Emergency Assistance and can be replaced within 24 hours if lost or stolen.