Australia Post a distribution partner for American Express travel money
Monday, 01 November 2010
Australia Post has been selected as the Australian distribution partner for the global launch of American Express's new prepaid, reloadable foreign currency card, which enables cardholders to make purchases and withdraw local currency from ATMs around the world.
The American Express GlobalTravel Card will be available at more than 3,200 of the 4,400 Australia Post outlets nationwide from 1st November, 2010.
Christine Corbett, Executive General Manager, Retail Services, said that the distribution partnership was another demonstration of Australia Post's direction under the Future Ready strategy by delivering new products and services through its retail network.
"The card adds to a range of travel products and services available through our outlets, including travellers cheques, Australian and UK Passport applications and Instant Passport Photos, making Australia Post a one-stop-shop for people preparing for the Christmas holiday season," said Ms Corbett.
Australia Post holds eight per cent market share of the foreign currency market, and plans to use the American Express distribution partnership to increase its share of the travel money market.
"With a retail footprint extending to cities, towns and regional communities throughout Australia, our outlets are the perfect vehicle for American Express to make its new product available to customers," Ms Corbett said.
Under Future Ready, which was launched on 1 July this year, Australia Post has launched a strategic business unit called Retail Services, a key focus of which will be expanding the use of its bricks-and-mortar network as a shopfront for government and business.
Nick Dinopoulos, Vice President American Express global Foreign Exchange Services, said that distribution via Australia Post made sense.
"Our partnership with Australia Post means the full suite of American Express foreign currency products including foreign cash, traveller's cheques and our new GlobalTravel Card are within easy reach for Australian travellers," said Mr Dinopoulos.
"Australia Post and American Express are both synonymous with high quality service, trust and experience and by joining forces we are giving Australians a more flexible mix of currency options when travelling abroad," he said.
The new American Express GlobalTravel Card can be used overseas for purchases where American Express cards are accepted or to withdraw cash from ATM's. The card is a prepaid, reloadable card that provides customers a secure way to manage their foreign currency while travelling.
The card will be available in United States Dollar (USD), British Pound (GBP) and Euro (EUR) currencies. Customers will be able to purchase, reload and cash out existing funds on the card at participating Australia Post retail outlets.
A range of travel-related products and services are available through Australia Post retail outlets including:
- Prepaid travel money cards
- Foreign currency & traveller's cheques
- Australian and UK passport applications
- Travel-related merchandise - money belts, Lonely Planet guides, international calling cards and travel SIM cards.