Canada Post and MasterCard introduce multi-currency prepaid card
Canada Post, MasterCard, Payment Source Inc. and Peoples Trust Company have teamed up to launch the “Cash Passport” prepaid card for travelers. According to a statement issued by Canada Post yesterday (23 February): “The contactless (tap) card, which allows you to load up to seven currencies at a time, is a convenient and secure alternative to pockets full of cash or travelers’ cheques and can be used at millions of ATMs and merchants worldwide anywhere Mastercard is accepted. Cash Passport can be purchased using debit or cash at 2,600 Canada Post locations and reloaded at 6,000 locations or online.”
The seven currencies are: the Canadian dollar (CAD); the US dollar (USD); the Euro (EUR); UK sterling (GBP); the Japanese jen (JPY); the Australian dollar (AUD) and the Mexican peso (MXN).
Canadians can purchase and reload a Cash Passport by visiting their local Canada Post outlet and the card is ready to use immediately. The card is chip and PIN enabled for added security and can be used at ATMs, points of purchase and online anywhere that accepts MasterCard.
