lost-in-translation.jpg

The value proposition of a prepaid travel card whilst on holiday continues to fall short based upon research recently conducted by Consumer Intelligence.


Our research suggests that consumers are more likely to purchase foreign currency at a local bureau de change or foreign ATM than accept less competitive rates and fees often associated with single or multi-currency prepaid travel cards. It’s clear the message of better rates and fees still resonates with holiday makers more than that of the prepaid message ‘safe, secure and refundable’.

 

But do customers really think a slightly better rate on foreign currency outweighs the value of safe and secure funds?  I struggle to believe so.

 

The prepaid travel card should be a natural fit in any traveller's wallet but its value proposition is either being lost in translation or simply not communicated at all.

pre-paid-card-survey-question-1.jpg

 


 

Prepaid travel cards infographic - the importance of strategy and service

prepaid-travel-card-banner-no-date.png

To get a deeper understanding of the challenges faced by prepaid travel card providers, Consumer Intelligence surveyed 1,087 consumers. The results highlight the importance of convenience and a strong upsell strategy over competitive exchange rates.

 

download infographic

Comments (2)

You may also like

Travel Money: How Do Customers Choose A Travel Money Provider?
Travel Money: How Do Customers Choose A Travel Money Provider?
30 January, 2019

Consumer Intelligence’s biannual travel money report reveals that whilst we still love cash, there is a rise in purchasi...

Why Banks Aren’t Converting Brand Awareness Into Market Share
Why Banks Aren’t Converting Brand Awareness Into Market Share
20 December, 2018

Consumer Intelligence’s biannual travel money report reveals that although many big banking brands, including Barclays, ...