Mastercard Teams Up With Canada Post

Mastercard and Canada Post – along with collaboration from Payment Source Inc. and Peoples Trust Company – have launched Cash Passport, the latest payment solution for smart and simple travel.

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 travellers’ 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.

By pre-loading their Cash Passport, travellers will have more control over their travel budget. And by locking in foreign currency exchange rates in advance, Canadian travellers won’t have to worry about currency fluctuations during their trips.

Fixed ATM fees and no transaction fees on international purchases make it easy to keep track of exactly what the traveller has paid in local currency and how much they have remaining on their card.

Travellers can also manage their money online, move money between currencies and check their balance whenever and wherever after registering a card on .

Donna Kinoshita, senior vice president, global products & solutions, Mastercard Canada, commented:

“Whether you’re a globetrotter, an exchange student, or someone who shops online from international merchants, Cash Passport is the smart and simple solution that allows you to better manage your overseas spending.”

Kinoshita noted that:

“Together Mastercard and Canada Post are making this a winning experience for Canadians by offering cardholders the ability to purchase and reload via Canada’s largest retail network.”

Cash Passport holds up to seven currencies (CAD, USD, EUR, GBP, JPY, AUD and MXN).

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