6 May 2005
Following continued industry antagonism surrounding excessive credit card charges aboard, consumers in the UK are to be offered a new cheaper alternative by MasterCard.
According to Finextra, MasterCard Europe and the International Currency Exchange (ICE) have coalesced to launch Cash2Go, a PIN-secured pre-paid Maestro debit card.
The offering has the potential to replace paper-based travellers cheques, experts have said, and is currently being trialled at the ICE exchange bureau in the UK.
Keith Hobbs, VP and head of business development at MasterCard Europe, claimed the new card "offers consumers a great opportunity to get easy, safe, and secure access to their money".
If the trials prove successful, a complete UK roll out could take place over the next three months.
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