Travelex Launches New Product in the UK

Travelex, a leading brand in foreign exchange, has introduced a new product that allows customers to lock in their exchange rates.

This will ensure they get the best rates from Travelex before their trip. This new product allows foreign exchange to be pre-ordered right at the time of booking. It creates a valuable revenue stream for online and airline travel agents.

Customers who pre-order currency for trips between April 2023 and December 2023 will not be affected by the exchange rate if it changes before their departure date. Customers can rest assured that even if the rates change, they will still be able to get the rate they pre-ordered. Customers will get the best rate if the rate rises. This is a win-win situation!

Customers can rest assured that their holiday money is safe and secure, and that Travelex will deliver their currency at home.

Travelex conducted an Alpha phase pilot for this product. It offered a limited number of customers the opportunity to pre-order US dollars, euros, Australian Dollars or Canadian Dollars. There will be more currencies added in the future. This product is part of a more modern, digitally-led strategy by Travelex that offers customers more options for travel money.

Travelex has partnered closely with HedgeFlows (a UK-based fintech partner) to enable this launch. HedgeFlows is also deeply committed to helping people navigate the uncertain world of foreign currency rates with confidence.

Travelex launched their Travel Money Card app with KAYAK at the beginning of the year. This app allows customers to order cash or a Travelex Money Card, manage their card and search for flights and rentals cars. The company launched the first ATM click and collect service for retail FX in Australia and the UK late last year. They have also increased their investment in 'digital First' airport experiences across their international stores portfolio, including self-service shops and ATMs.

Travelex is currently exploring partnerships with airlines and online travel agents to include this product in their customer offerings and bookings, creating a new revenue stream.

Richard Wazacz (CEO, Travelex) stated that he was thrilled to launch the new exchange rate service. This will assure our customers that they have secured the best Travelex rate, even if rates change after purchase. We strive to make exchanging currencies as easy and stress-free as possible for our customers, and this product will give us additional peace-of-mind.

"This product represents a new, innovative, digital-led way of doing things at Travelex, and I'm extremely proud of the team who have managed to build everything from the ground up in just a few short months. We are excited about driving further innovation within the FX space and will build on what we learn through this product in the following weeks and months."

Source: traveldailynews.com