Multi-Currency Travel Card
<A new product, separately licensed>
Issuers on WAY4 can target frequent travelers with a Multi-Currency Travel Card, giving them more transparency and control over currency conversion charges.
Issuers can configure rules for such cards themselves or let customers do this via online banking. It begins with linking separate accounts in different currencies to a Multi-Currency Travel Card account. Then routing rules should be defined.
When a transaction occurs, two scenarios are possible:
WAY4 selects a linked account depending on the transaction or settlement currency. For example, transactions in EUR go to the linked account in EUR, those in USD go to the USD account, and all the rest are recorded in GBP.
All transactions, regardless of their currency, are recorded on one preferred account.
The Multi-Currency Travel Card can be debit or prepaid. The linked accounts can be stored in WAY4 or an external system, e.g. core banking.