Rev Launches Travel Card in India with FX Provider (Dec. 15, 2014)
Paybefore Award-winning Rȇv Worldwide is continuing its focus on multicurrency travel cards with its latest launch in India. The Austin, Texas-based processor and program manager is launching GoCash with foreign exchange provider UAE Exchange, India, and YES Bank, India’s fourth-largest private sector bank.
Travel cards are nothing new in the Indian market; however, much of the focus has been in corporate travel, and Rȇv CEO John Mitchell tells Paybefore that the new features of its product offer significant upgrades for consumers and corporate travelers. “Beyond the convenience our partner’s distribution footprint offers, our travel products offer cardholders the convenience of easily converting their cash into multiple currencies via our smartphone application as needed.”
GoCash will be sold in UAE Exchange, India’s 338 corporate-owned branches. The prepaid MasterCard card supports six currencies—UAE dirham, Australian dollars, U.S. dollars, euros, British pounds and Singapore dollars—with more on the way as the market demands.
With its OneSmart card for Air New Zealand, a 2013 Paybefore Awards winner, Rȇv introduced a new concept to travel cards—combining a frequent flyer loyalty program with a full-featured prepaid card. Since that 2012 rollout, the company has worked with Virgin Australia and has two more airlines scheduled to launch early next year. The company also has partnered with banks and FX providers in Europe, the Middle East and Asia on travel cards. Although GoCash doesn’t have a loyalty component yet, Mitchell says several enhancements are in the works.
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