Breaking New Ground in Regulation and Compliance to Deliver First of Its Kind Travel Money Innovation
CASE STUDY | CURRENSEA CASE STUDY MCLEAR Breaking new ground in regulation and compliance to deliver first of its kind travel money innovation Wearable paytech programme sought GPSspecial helped collaboration Currensea revolutionise for charitablethe giving establishedinitiative model of travel money products by becoming the UK’s very first CBPII - Card based paymentGlobal Processing instrument Services issuer. (GPS) extends financial About Currensea inclusionSituation activities by enabling fee-free donation AboutCurrensea McLEAR, is the UK’s first free travel through McLEAR. money card linked directly to bank Despite the availability of a huge variety of travel money services McLEAR,accounts. in Strategic Alliance with VISA Inc, from fintechs, consumers incur high fees by using their bank debit is a leading wearable technology company The card works by acting as an Situationcard while paying abroad. Currensea recognised there was an for payments, security, and fashion globally. unmet need for an alternative solution but, to bring it to market, McLEARextension prominently of an individual’sshowcased the existingworld’s McLEARthey would is the need pioneer to revolutionise of wearable payment the established technology modelfor consum of currenters firstbank, payment allowing Ring alongsidethem to VISA spend at the directly Rio andtravel businesses. money products. Since 2018, their Smart Ring has enabled over 100,000 Olympics,from their Super account, Bowl 51, Eurovisioneliminating 2017, the Ringholders to make contactless payments globally with a simple tap of andneed FIFA to Confederate open a new Cup 2017.one. McLEAR Currensea wanted to solve the problem by connecting its service a hand. hasCurrensea unveiled itshas exclusive partnered executive-class with the directly to the consumers ’ bank account.
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