Students and their universities will be able to preload their cards in US dollars and use it internationally with the additional incentive of being able to access over 45,000 ISIC discounts worldwide and 125,000 domestically.
Chandler, Arizona (PRWEB) March 22, 2016
Tuxedo Money Solutions (Tuxedo) in partnership with Central Bank of Kansas City (CBKC) and STA Travel, today announces that it is launching its STA Travel ISIC Prepaid MasterCard® to students across the United States, the largest market for prepaid cards globally.
Issued directly to students, the cards can be used wherever Debit MasterCard is accepted, allowing the increasing number of students travelling overseas to travel with just one card. Tuxedo and STA Travel are initially launching the program with high profile universities offering ‘study abroad’ programs for a number of universities which send hundreds of students every year to cities such as London and Madrid as part of their international programs.
Sold direct to the consumer and through partnerships with universities, the STA Travel ISIC MasterCard will be accepted at 35 million locations (plus 2 million ATMs). Students and their universities will be able to preload their cards in US dollars and use it internationally with the additional incentive of being able to access over 45,000 ISIC discounts worldwide and 125,000 domestically.
The American market is a prime target for Tuxedo, which brings its expertise to the largest prepaid market in the world. The global payments market has been forecasted to be worth $822bn by 2017, with the US projected to hold 51% of the market share in the same year.
Trent Sorbe, President of CBKC’s Central Payments Division said: “We are pleased to serve as Tuxedo’s issuing partner in the U.S. Our initial program with STA will be a fantastic product for the rapidly rising number of students travelling overseas during their extended holidays and as part of their degree programs. We welcome Tuxedo’s prepaid experience from markets like the UK, Australia, and Dubai and look forward to supporting many programs with them here in the U.S.”
John Sharman, Chief Executive of Tuxedo Money Solutions, leading e-payments specialist, added: “Being a chip and PIN product the STA Travel ISIC MasterCard is the perfect companion for US students travelling overseas. This partnership is a significant part of our global expansion following on from rapid international growth in Europe, Australia and the Middle East over the past 12 months. Our expansion into the American market requires a committed and collaborative issuing partner. We chose the Central Payments team at CBKC because of the stability of their issuing model and its ability to support our aggressive growth plans in the U.S.”
Adam Cooper, Senior Vice President of STA for North America stated that “We are really excited to launch this product with Tuxedo and Central Bank of Kansas City. This is a much needed way for students to safely carry money whilst travelling, having the security of Chip and PIN and being able to block the card by SMS should they need to”.
Tuxedo Money Solutions:
Bethan Halls/Jennifer Ball
The Communication Group plc
+44 (0)20 7630 1411
bhalls(at)thecommunicationgroup(dot)co.uk / jball(at)thecommunicationgroup(dot)co.uk
480-592-0868 ext 22431
About Tuxedo Money Solutions:
Payment specialist, Tuxedo Money Solutions offers expertise in developing and deploying smarter ways to manage money. Since 2006, Tuxedo has managed over $1 billion of payments through its award winning MasterCard and VISA solutions for 400 global partners in sectors including travel, retail and financial services.
Specializing in providing both off-the-shelf and bespoke solutions for clients, Tuxedo moves funds globally via its own Level 1 PCIDSS compliant eccount® platform and utilizes innovative technology to make payments easier and provides safe and secure ways to spend and withdraw money. Expanding globally, Tuxedo is able to offer clients a fully flexible and scalable approach to the development and growth of programs and relationships. For more information, see: http://www.tuxedomoneysolutions.com
About STA Travel
STA Travel is the world’s largest youth travel company. STA Travel been successfully delaying students from entering full-time employment since 1979, and every year sends more than two million passengers on life-changing adventures. Today, STA Travel has more than 2,000 people in over 200 stores in 11 countries, including Australia, Austria, Germany, Switzerland, Japan, New Zealand, Singapore, South Africa, Thailand, United Kingdom and United States. STA Travel also work with franchisees, joint ventures and licensed partners in a further 52 countries.
About Central Payments and Central Bank of Kansas City
Central Payments operates as the payments division of Central Bank of Kansas City, Member FDIC, and administers nationwide prepaid card programs on behalf of CBKC via retail, employer/payroll, and online outlets. CBKC is the issuer of the STA Travel ISIC Prepaid MasterCard. Headquartered in Dell Rapids, South Dakota, Central Payments is led by industry veterans empowered to provide a stable, flexible, and scalable issuing structure to leading prepaid companies.
CBKC is a sixty-four year-old family-owned Bank located in the heart of Kansas City, Missouri and one of 106 financial institutions in the country certified by the U.S. Treasury as a Community Development Financial Institution (“CDFI”). CBKC and Central Payments share the mission to provide high quality financial products to consumers of modest means, who historically have not enjoyed the benefits of affordable and accessible financial services. “Treat Each Customer’s Balance as Though Its All They Have” guides the organization’s approach to product design, customer service, and affordability.
The Card is issued pursuant to license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.