TUI Travel Money Mastercard
A Powerful Partnership
PrePay Solutions (PPS) is a one-stop-shop for prepaid programmes. PPS are a Mastercard Principal Member and a full e‐money issuer, offering a range of services including processing, BIN sponsorship, eWallet provision, compliance and fraud services, supply chain management, customer services and end to end program design and management. PPS are unique as they process from a single global in-house processing platform.
PrePay Solutions has been trusted by global brands to manage ground breaking prepaid programmes including prepaid debit cards, travel money cards, gift cards, corporate cards, insurance cards, rewards cards, loyalty cards, staff cards, promotional cards, saver cards, warranty cards, trade in cards, corporate expense and product specific cards. PrePay Solutions’ programmes operate across multiple media and form factors, including physical, virtual and NFC. We have over 200 client programmes across 26 countries.
TUI UK and Ireland, part of TUI Group, is the business behind the TUI, First Choice and Marella Cruises brands, as well as Crystal Ski Holidays and TUI Lakes & Mountains. Sub brands include TUI Sensatori, TUI Family Life, TUI Sensimar, First Choice Holiday Villages and SplashWorld Resorts.
Its airline, TUI Airways – formerly Thomson Airways – has 64 aircraft operating to over 70 destinations in 30 countries. It was the first airline in the UK to take delivery of Boeing’s 787 Dreamliner and in 2018 will welcome new 737 MAXs to its fleet.
TUI UK and Ireland has a team of more than 10,000 employees and serves over six million customers each year.
TUI is dedicated to helping its customers to make the most of their holidays by taking the stress out of paying for food, trips and souvenirs when abroad. Increasingly, consumers want simpler ways to pay without having to carry bulky wallets full of cash. They desire travel cards that eliminate the need to pay expensive exchange rates or carry multiple single-currency cards, and help to keep their hard-earned money safe and secure – no one wants to lose their money, or have it stolen while they are so far away from home.
In 2014, TUI and PPS partnered up to deliver a dynamic multi-currency service designed to give people who travel all over the world more flexibility when making payments in different currency zones. People can now plan ahead by topping up their multi-currency card online, so they can spend money without having to worry about carrying lots of different currencies. The card can also be easily managed online or via the App, users can check their balance on the move, transferring cash from wallet to wallet to suit their needs
PrePay Solutions (PPS) have worked in partnership with TUI for four years to develop an industry leading Multi-Currency Travel Money Card, now offering 13 currencies that can be used worldwide. Over the last 4 years, PPS & TUI have added to the number of currencies available and built a resilient, easy to use service for consumers including a mobile app and an online portal.
The partnership has produced an award winning programme that has driven some fantastic results in key areas,securing TUIs place on the high street as the go-to Travel Agency for every holiday need.
About TUI Multi-currency Travel Money Mastercard®
TUI wanted to offer a card that prevents customers having to carry multiple cards and is available through a number of different outlets.
TUI business goals were:
- Reduce operating costs through better stock management,
- Reduce thenumber of store deliveries with fewer emergency money transfers to deal with lost or stolen cards.
- Increase average transaction value
- Incremental revenue through the new currencies on offer.
- ROI expected within 6 months.
- Encourage ongoing loyalty and customer engagement versus a one-time cash sale
Partnered with Prepay Solutions, TUI has access to an award-winning prepaid platform capable of achieving these goals. This platform has been the driving force behind changes to the product and features of the programme over the years keeping it fresh and attractive for consumers. This included the addition of “2 cards per pack” allowing customers to continue spending abroad should a card be lost or stolen along with fraud checks that take place at PPS.
TUI have an open loop solution that works 24 hours a day, 365 days a year with the ability to assist cardholders who have cards lost or stolen in other countries.
In 2017, TUI announced the addition of a further 5 currencies making the TUI Travel Money card is the most advantageous of its kind with 13 supported currencies. With an app that is accessible globally and 24hr Customer Services.
TUI and PPS had 3 main target audiences:
- Money-savvy frequent travellers looking for convenience, security and excellent exchange rates
- People new to multi-currency travel
- Unbanked customers, looking for a safe and secure way to carry holiday money.
The frequent traveller is often faced with having to carry multiple cards, or multiple sets of coins and notes, and then faces the challenge of exchanging small amounts of one currency for another, whilst incurring transfer fees.
The card had to offer a level of security, familiarity and convenience whilst taking the hassle out of having to worry about notes, coins and the stress of carrying cash. It also needed to allay concerns over unknown fees that may be charged for using debit or credit cards abroad.
How it works
Working with PPS, TUI devised an ideal multi-currency solution with 13 currencies and 2 cards on 1 account as a standard, the TUI Multi-Currency Travel Money Card is the ultimate travel companion.
Customers can load their card with up to 13 different worldwide currencies from the list below:
– US Dollars
– Australian Dollars
– New Zealand Dollars
– Canadian Dollars
– Turkish Lira
– South African Rand
– Thai Baht
– Mexican Peso
– Bulgarian Lev
– Croatian Kuna
– UAE Dirham
– Pound Sterling
Customers can use their card just like a bank card, in shops, hotels and restaurants or withdraw cash from an ATM – anywhere that displays the Mastercard acceptance mark.
The card will automatically use the currency of the country the customer is in. If there are no or insufficient funds in that particular currency wallet, the POS terminal will move to the next available wallet with the highest balance.
The customer can also transfer funds between currency wallets using the online portal or mobile app.
Cards can be reloaded:
- In-store, at any of its almost 600 TUI stores across the UK (by cash, debit & credit card)
- On-line via the web-portal (by debit & credit card)
- Mobile app, available on iOS and Android (by debit & credit card)
How is it different?
The main benefits to consumers include:
- The wallets cover a significant proportion of the currencies that are sold by TUI.
- 2 cards on 1 account give you the freedom to move independently or split your travel party, and gives you a back-up card, in case one of your cards is lost or stolen.
- Contactless payments through the primary card.
- Simple & transparent fee-structure; no transaction fees abroad, unless you use an ATM.
- No fees to transfer funds between wallets.
- Manage your card wherever you are, at any hour of the day, using the app (Available on iOS & Android).
- The card can be loaded with as little (minimum load is £25) or as much as you want, up to £6000, and is reloadable, in case you run out.
- You can use the card even if you didn’t book your holiday with TUI. It is convenient – it can be ordered online and delivered to your home.
- If you don’t have time to order a personalised card online then these can be instantly issued in any TUI store
- Emergency money transfer from Western Union.