Travelex's innovative new currency exchange referral programme

Travelex, the world's leading specialist provider of foreign exchange, has launched a new referral programme, within the United States. The innovative scheme will incentivise thousands of Travelex customers to encourage their friends to enjoy their lowest price for foreign currency, complete with no extra fees and free shipping over $1,000.

Travelex chose to work with Buyapowa, the world-leaders in referral marketing technology, due to their proven expertise and technology, which also powers referral programmes for leading brands including Sky, L'Oréal, ASOS, The AA and Telefónica.

From now on, customers visiting https://www.travelex.com/refer-a-friend will each be given a unique link to share with their friends - via email, their favourite social network or any mobile messaging app, including SMS and WhatsApp. Any friend visiting their link will receive $5 off their first online currency order, after which the referrer will be rewarded with a $10 gift card.

Following the US launch, Travelex hopes to roll out the programme in further markets, enabling even more customers each year to spread the word among their friends and family - earning great rewards in the process.

Dominic Grounsell, Global Marketing Director at Travelex said: "This new referral scheme forms an


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Financial Services: why the industry needs to rethink its loyalty strategy

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The digital age hasn't been kind to the financial services industry. On the one hand, online banking and self-serve product applications have facilitated enormous growth and resource streamlining. On the other hand, there's no such thing as loyalty anymore. A quick scan for 'credit cards' on Google gives a top search result for a price comparison site. And the second result? Another price comparison site. That's before Wikipedia's even defined what a credit card is.

And that's a big problem: when customers have become ferocious deal-hunters, and when the very best interest rates and fees are only a click away, it becomes almost impossible to compete without stripping back your product to its bare bones and scrapping it out to offer the lowest prices. And, when you're racing to the bottom, it's pretty hard to keep your customers with you - the moment you're not the cheapest in town, you might as well quit town altogether.

In recent months and years, FS companies have tried to offer value-adds as an incentive to lure - and retain - customers. It's the "I might not be as pretty as the girl who just moved in next door, but I know how to


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