UK-based Tuxedo Money Solutions, in conjunction with Central Bank of Kansas City (CBKC) and STA Travel, has rolled out a STA Travel ISIC Prepaid MasterCard for students across the US.
The card will be issued directly to students and the same can be used at all Debit MasterCard acceptance locations worldwide while travelling.
Tuxedo, in a statement, said that the new program will be initially launched with high profile universities that offer ‘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 programmes.
The card, which will be sold directly through partnerships with varsities, will be accepted at 35 million locations (plus two million ATMs).
Students and their varsities can preload the cards in US dollars and use it worldwide with the additional incentive of being able to access more than 45,000 ISIC discounts globally and 125,000 domestically.
Tuxedo Money Solutions CEO John Sharman said: "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.
CBKC president of central payments division Trent Sorbe said: "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."
STA senior vice president for North America Adam Cooper said: "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."