Thames Card Technology has been selected to provide travel company TUI UK & Ireland with prepaid travel money cards.
TUI, which owns holiday brands including Thomson and LateRooms.com, teamed up with Thames to provide holidaymakers with multicurrency prepaid cards.
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"We wanted to approach the concept of travel money in a different way by moving away from single-currency cards and delivering a product that adds more value for users," said Miles Briggs, general manager of financial services, at TUI UK & Ireland.
"Holidaymakers and travellers now receive two, multi-currency cards that are linked to the same account, each with an individual PIN to offer greater flexibility. Having an established relationship with Thames enabled us to work closely with the team to refine a complex vision into a customer-friendly travel money solution."
The MasterCard prepaid cards come in tamper-proof packaging and arrive in packs of two so that travellers have a back-up payment card. They can also be used to make EMV or magstripe payments.
Paul Underwood, MD at Thames, said: "TUI UK & Ireland laid down a real challenge with this project and the Thames team has worked hard to tailor a complex solution to very specific requirements.
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By GlobalData"It is always satisfying to see a vision come to fruition and we look forward to supporting TUI further in the coming years."
The deal follows on from Thames’ announcement during January that it had received a growth capital investment of £3.2m ($52.5m).
At the time, Thames said it would use the investment, from independent British investment firm BGF, to finance both manufacturing equipment and senior operating and business development personnel to fuel "aggressive expansion" in the international banking and prepaid card markets.
Thames is one of the UK’s largest manufacturers of secure chip credit, debit, prepaid, gift and loyalty cards, including MasterCard and Visa products, and work with organisations around the world including Lycacard, the UK Post Office and AVIS.
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