TUI Travel Plc
TUI Travel is one of the world’s leading leisure travel companies, with over 240 trusted brands in 180 countries and more than 30 million customers. TUI is a truly global business, employing approximately 54,000 people and operating in 31 key source markets worldwide.
PrePay Solutions developed a comprehensive multi-channel portfolio of prepaid products for TUI, including an ‘open loop’ prepaid travel card that uses the popular Thomson Travel Money Card (TMC) network, as well as a private label (PVL) MasterCard® gift card that can only be used in TUI retail outlets.
PrePay Solutions took charge of all transaction processing, e-money issuing, eWallet provision, compliance and fraud services, supply chain management and customer services for both projects, whilst TUI took responsibility for programme management, marketing and distribution. PrePay Solutions and Clydesdale Bank both acted as BIN sponsors during different stages of the project.
By working closely with TUI, PrePay Solutions has delivered:
- Brand-building – a successful programme that has driven brand awareness
- Revenue – a compelling revenue stream for TUI
- Loyalty – enhanced customer loyalty within a competitive market
- Market share – increased market share of customers’ foreign exchange spend
- Service – a range of value-added services that go far beyond a simple “off the shelf” co-brand
The project was rolled out in three key stages. TUI’s first prepaid cards were distributed in Thomson and First Choice stores and could be issued and reloaded instantly in-store. All of these cards included full Chip & PIN security and were available in both US dollar (USD) and Euro currencies.
The second stage of the project saw the introduction of personalised cards distributed online via the Thomson and First Choice websites. These personalised cards could be purchased and reloaded online instantly, with easy account management facilities available via the My Account website/app. TUI’s prepaid cards were available in US dollar, Australian dollar and Euro currencies and included automatic foreign exchange conversion worldwide.
The final stage of the project extended the scheme to corporate and retail gift cards, including a non-regulated private label (PVL) corporate MasterCard® available to use in TUI retail outlets only. A third-party took responsibility for both marketing and corporate distribution of these PVL products and helped to launch a special “compensation” prepaid PVL card in 2013.
“With its TMC and PVL cards, TUI has managed to grow its sales year-on-year by broadening the range of products that it offers and making them available across multiple channels,” according to Ray Brash, Managing Director, PrePay Solutions. “The TUI TMC, in particular, has been important in counteracting the decline in Travellers Cheques in recent years, and now represents a compelling revenue stream for TUI. In fact, TU was able to achieve its annual sales target for its TMC cards within just six months after going live.”