Travelex Presses Ahead With New Digital Strategy

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Travel money company Travelex is rewriting its digital strategy in order to put the customer ‘at the heart of everything’, according to its chief digital officer.

Back in May 2015, Travelex launched the pilot scheme of its Supercard digital wallet. The pilot allowed 25,000 Brits to use the Supercard app and physical card to spend money abroad without being hit by fees from their provider. The scheme was actually so successful that it was oversubscribed, with 100,000 people downloading the app within 36 hours.

Speaking at a summit in London, Travelex’s Chief Digital Officer said of the app:

“[Supercard] is a mobile app which comes with a physical Visa credit card. In that mobile app you can tie up to five of your home debit or credit cards to your Supercard and choose which one you want linked to the card at any one time.”

The supercard then acts as the middleman, meaning that if you choose to pay for something abroad with your card, your card provider will treat it as a domestic transaction and you won’t be charged a foreign transaction fee.

Mr.Cornwell, the Chief Digital Officer spoke about his initial hesitation when launching the app:

“We launched the pilot to see how it worked, because we weren’t really sure if there would be that product-market fit, or if people would understand how it worked.”

When Cornwell joined Travelex two years ago, the company was almost exclusively non digital. He said that when coming in to do a technology transformation, it’s important to have some ‘quick wins’ to build excitement but not redesign the whole organisation from day one.

The digital transformation includes optimising the company’s core ecommerce business, which has grown rapidly. Back in 2014, it launched a £25m digital growth fund which focused on financial technology- the Supercard project was the first to benefit from this.

Travelex is also focusing on incorporating its IT department into the business, to avoid what he calls ‘cool kids in the corner syndrome’. In order to bring in new talent, Travelex are sponsoring Silicon Milk Roundabout, a tech recruiting fair for the second year in a row- it is the only non-technology company to do this.