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Travelex muscles in on the fintech market with the launch of its foreign-exchange-fee-avoiding Supercard

Scott Carey | July 1, 2016
Travelex is fighting the fintech startups in their own back yard, by developing consumer facing apps and products in-house.

Moving from offline to online

This reflects a broader pivot from the forty-year-old company into more online services. Speaking at the Tech for Britain conference last week, Cornwell laid out the company's attempts to bring its online and offline capabilities together in a more coherent way under his stewardship.

Not everyone was convinced though. When they launched the Supercard pilot many in the business raised their eyebrows. "We didn't know how customers would react," Cornwell said. "Some people at the business saw it fundamentally as a challenge. We didn't know how it would make money, but we have a better idea now."

"Essentially it's about how you integrate the offline and online. When a new medium comes it doesn't displace the old model, but usage patterns shift and we see that."

The free Supercard is available across the UK from today. Users can sign up using the app and a card will be sent out after they have successfully registered.

Source: Techworld


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