Rêv Worldwide, Scandinavian Airlines, the largest airline in Scandinavia, and Catella Bank, have partnered to intro the multi-currency Travel Cash wallet.
The new card is a reloadable prepaid MasterCard feature that lets travelers earn EuroBonus Points as they shop across MasterCard-accepting merchants worldwide, adding the ability to exchange value between currencies to facilitate locking-in exchange rates before or during travel. It is the first product of its kind in Europe.
EuroBonus is the premier loyalty and frequent flyer program in the Nordic countries, where members accumulate points with flights, hotel stays, car rentals and even everyday purchases. The points are redeemed at either SAS or a wide selection of participating merchant partners ranging from other airlines, car rental chains, hotels, restaurants, resorts and more.
The new Travel Cash feature of the award-winning loyalty program will allow members to easily load their own money on a prepaid account, and use their membership card anywhere MasterCard debit cards are accepted, including ATMs worldwide, and earn EuroBonus points while shopping. Additionally, members will be able to convert funds loaded on the card, in real time via web and mobile application, into 11 available currencies. Other notable features include access to a virtual card, and MasterCard® Contactless PayPass™ service for faster payments.
SAS selected Rêv as its product development and payments processing partner, to handle program management, utilizing Rêv’s proprietary multi-currency processing platform and global experience with similar products. Rêv has successfully launched multi-currency payment programs around the world, with leading partners such as Air New Zealand, Virgin Australia, and Etihad Airways.
The new prepaid MasterCard side of the new EuroBonus membership card is issued in partnership with Catella Bank, S.A., a European leader in prepaid card issuance services and a principal member of MasterCard Worldwide.
The program is expected to complete a full rollout this year, available to SAS members located in Denmark, Finland, Norway, and Sweden.
For data, background and forecasts on Rêv Worldwide: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).