Company Spotlight

MasterCard Releases Ukash Prepaid Travel Card in UK

MasterCard announced that it has released its Ukash Travel Money Prepaid card designed to give UK tourists the best possible foreign exchange rate this summer, according to a company release. Launched by Ukash, a payments innovator, there are no charges for sign-up, transactions, or ATM withdrawals abroad.

“We recently researched the spending habits of UK holidaymakers and were horrified at the lack of knowledge about inflated transaction fees as well as the cost of withdrawing cash from ATMs,” said David Hunter, Chief Executive at Ukash.

“Leaving the arrangement of spending money to the last minute is the worst thing you can do if you want to get value for your pounds. Yet fifteen percent of British holidaymakers said they buy currency when they arrive at their destination,” he said. “The Ukash Travel Money card is the simple and convenient way to make spending money go further, with guaranteed exchange rates and free ATM withdrawals.”

The Ukash Travel Money card can be ordered online and will be delivered in five to seven working days without the need for any credit checks. Cardholders can check their balance and transactions and top up their card at any time online, completely free of charge.

According to Marion King, President UK & Ireland at MasterCard, “this prepaid card provides the UK holiday maker with better exchange rates and acceptance at ATMs across the globe.” The new card also supports MasterCard’s aim to “provide all customers with the safest, easiest and most accessible payments both at home and abroad.” 

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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