Travelexa market-leading exchange brand, has launched an FX affiliate referral program with more than 60 local banks across Japan, with more than 30,000 of these banks’ customers benefiting from access to travel money since the launch of the program late last year.
With many local Japanese banks reducing or withdrawing their domestic retail FX services, the referral partnership program sees these banks refer those customers who need travel money directly to Travelex. These referred customers are then able to receive a discount on their travel money purchases just by showing their bank card.
The referral program allows customers to receive a discount on their travel money purchases both at Travelex’s 66 stores across Japan and online. The discount also covers cash purchases and purchases made on the Travelex Travel Money Card, which was introduced to the Japanese market last year.
The model has served to benefit the banks, their customers and Travelex: for the banks, the partnership means that they are always able to help their customers with travel money needs, even when they do not provide FX services directly; for customers, they are now able to access discounted travel money services throughout the country; and for Travelex, the partnerships helped to further expand the company’s distribution network and customer base, and enabled them to help customers who would otherwise have struggled to access retail FX services.
So far, more than 60 local Tier 1 and 2 banks have joined the program, with more than 30,000 Japanese customers served to date. Travelex is now working to expand the project even further, with the aim of having served 40,000 customers in the coming months.
The partnerships in Japan follow a similar project in New Zealand, which saw Travelex partner with the Bank of New Zealand to allow 1.2 million BNZ customers to access discounted travel money. More than 3,000 BNZ customers have successfully taken advantage of the project in its first few months.
Jun Otani, Director, Travelex Japan said:
“We believe that everyone who wants to travel should have convenient access to travel money services. We are therefore happy to have already helped more than 30,000 customers of more than 60 banks to access discounted travel money in a few months. These partnerships are part of our mission to increase convenience for Japanese travelers by putting them first and ensuring they can effectively access travel money as and when they need it.We look forward to expanding the project throughout this year and beyond “.
