Louisville, KY – August 24, 2009 – Travelex has appointed Jonathan Bennett as Head of Corporate Outsourcing for all of North America. Mr. Bennett is already the Head of Corporate Outsourcing for the UK, and now provides a global focus for products such as Corporate Cash Passport™. Since Cash Passport provides currency via a prepaid travel card to global consumers, this provides a global focus for the further expansion of the product.
“Cash Passport is changing the way business travelers think of carrying currency,” said Mr. Bennett. “I think that the product will only continue to expand and become the standard for carrying currency for business travelers everywhere.”
The Corporate Cash Passport allows companies to centralize and better manage their travel budgets while reducing administrative waste, providing auditing capabilities, increasing security and ultimately saving money. The card is loadable with U.S. Dollars and has the MasterCard Brand Mark and bearing MasterCard protections such as Purchase Assurance Service and Lost Luggage Service while allowing the card to be used anywhere Debit MasterCard is accepted and at ATMs around the world to withdraw cash in local currency.
The Corporate Cash Passport easily transfers funds from the cards to company funds and back again any time during the 3-year life-span of the card. The card offers greater control by allowing managers to view exactly how much was spent on given days, watch over employee card funds and keep a check on total expenditure. Card accounts can even be set up with a specific hierarchical structure to better match company loading and management processes.
Mr. Bennett has been in the corporate financial services field for 8 years. During that time he has worked in both sales and general manager roles for American Express and Travelex.
“Given the increased scrutiny over corporate travel and the increased demand for greater control over employee travel spend, the potential for our Corporate Cash Passport is virtually limitless,” added Mr. Bennett. “Travelex is leading the way and has the ability to change the way the world views traveling with currency.”
Travelex is the world’s foreign exchange, business payments specialist and leading provider of travel insurance, operating through subsidiaries and branches in these regions: the Americas, United Kingdom; Europe, Asia Pacific; and Middle East and Africa (EMEA). As one of the world’s leading providers of outsourced travel money to banks, travel agencies and other retailers it provides products including its prepaid currency card to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and Web-based ordering. For more information about Travelex or Cash Passport visit www.cashpassport.com and/or www.travelex.com/outsourcing.