Travelex, a leading foreign exchange specialist,
has officially launched an innovative electronic travelerís cheque
named ďCash Passport MasterCardĒ, in collaboration with the Bank
of China (BOC) and MasterCard.
This is the first e-travelerís cheque with MasterCard logo jointly launched by the three parties
in mainland China.
The newly introduced ďCash Passport MasterCardĒ
is designed to meet the consumption demands of the Chinese during
their vacations and study trips abroad.
Passport MasterCard is available in three foreign currencies,
including USD, Euro and GBP. By topping up the e-travelerís cheques in advance, users are able to use them at more than 30
million MasterCard acceptance locations including over 1 million
ATMs with MasterCard logo for local currency withdrawals overseas.
China has witnessed a boom in the outbound tourism market in
recent years. According to official statistics, the number of
outbound travelers in 2010 is expected to reach 53 million
annually, including Chinese students going abroad for their
ďMasterCardís latest travel survey demonstrates that
almost half of the Chinese households with annual income of
USD30,000 and above planned to spend on international personal air
travel in second half of this year. There is tremendous appetite
for travel amongst the well-heeled Chinese. The new Cash Passport
MasterCard, a breakthrough the result of a successful
collaboration with Travelex and Bank of China, caters to the needs
of the Chinese travelers Ė with the convenient electronic
travelerís cheques. We are proud to be part of this milestone,Ē
remarked Hai Ling, president, Greater China, MasterCard Worldwide.
The e-travelerís cheques can be repeatedly
topped up and users can track transaction details and
available balance online or through customer services. Cash Passport MasterCard also offers security advantages including free
24-hour Travelex hotline, providing cardholders with a range of services, including emergency currency aid and reporting the loss
of cards, thereby making their travel more secure, convenient and easy to manage.
Currently, customers can purchase the e-travelerís cheque at BOC Beijing branches located in Chaoyang
district with valid identification card and relevant
MasterCard, launched in Beijing, will be gradually promoted to
other branch networks of BOC in the future to meet the wider
populationís financial demands when travelling overseas.
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