Pre-paid currency card supplier Caxton FX has agreed its first partnership with a business travel supplier.
The deal with travel management company CTI aims to reduce the cost of overseas business trip expenses for clients as well as an efficient reconciliation process.
Caxton’s prepaid MasterCard can be used like a normal debit card to pay for goods and services at hotels, restaurants and retail outlets.
Businesses can open the Caxton prepaid account within a day, and have prepaid current cards available to travelling employees within five working days.
There are no credit checks, or any fees or charges required to operate the card programme.
Users are also able to withdraw cash at over 35 million outlets across the world, without incurring the additional fees and charges often applied by banks.
This is the latest in a series of partnerships agreed by CTI with organisations including Airplus, AirRefund, Concur Travel, Maiden Voyage and Victor in the past year.
Chief executive Clive Wratten, said: “Our partnership with Caxton FX is the latest example of CTI’s work with a series of leading companies to augment and enhance the service we offer our customers.
“This partnership-based approach enables us to offer a broader range of practical and innovative business travel solutions that span the entire duration of any business journey.”