Cash Card Goes Global: Visa International on...

Cash Card Goes Global: Visa International on Thursday introduced the first “electronic purse” that can be used around the world. The prepaid card, called Visa TravelMoney, allows consumers to get cash in different currencies from more than 200,000 Visa/PLUS ATMs at favorable exchange rates. Customers can buy the cards at an on-line bank terminal with any amount of money. The card can be used immediately to draw cash in the local currency at any Visa/PLUS ATM. Six banks in Mexico, Britain and the United States, with a total of 68 branches, will issue the cards in a six-month pilot program. The banks are Bancomer, Banco Mexicano and CONFIA in Mexico, Bank of Scotland in Britain and Colorado National Bank and First Bank System in the United States. The cards are to be offered by Visa’s other member banks after the pilot.