LOUISVILLE, Ky., Jan. 19 /PRNewswire/ -- Travelex has announced a partnership with integrated security solutions provider, Triple Canopy, Inc., based in Herndon, Va. The company provides security and risk management services to government agencies, private companies and non-governmental organizations who work in high-risk areas around the world. The challenge was how to issue funds to their workforce in a more cost-effective way. The solution came in the form of the MasterCard® branded Corporate Cash Passport™ issued by Travelex.
"The security of Cash Passport fit perfectly with the security solutions that Triple Canopy offers its clients," said Becky Phipps, Vice President of Sales for Travelex. "Previously they had been using another prepaid solution combined with wire services to distribute funds to their workforce. The right solution was to eliminate the risks involved in wires and provide greater control to the company, which Cash Passport does."
The Travelex Corporate Cash Passport gives individuals and companies the ability to manage foreign exchange expenses, to secure the best exchange rates and control spending on overseas currency. Offering secure, online management with reporting, Cash Passport is an excellent alternative to corporate credit when providing funds for temporary or contract workers since it won't affect a company's credit line. Finally, with a Cash Passport, all unused funds can be easily returned to the business's bank account after the employee travel has been completed.
"Financing operations overseas can be challenging, especially when your personnel work in some of the most high-risk environments in the world," said Tom Magnani, CFO at Triple Canopy. "The Cash Passport solution not only ensures that our funds are transferred securely but also gives us complete control of the process."
Travelex is the world's foreign exchange, business payments specialist and leading provider of travel insurance, operating through subsidiaries and branches in the Americas, United Kingdom, Europe, Asia Pacific, the Middle East and Africa. As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers, it provides products including its prepaid currency card to more than three million channel customers annually. Through its world-leading automation, Travelex offers consumers a full range of delivery channel options including telephone and Web-based ordering. For more information about Travelex or Cash Passport visit www.cashpassport.com and/or www.travelex.com/outsourcing.