Travelex is a leader in foreign exchange services operating in 28 countries and serving over 1.7 billion passengers annually through its airport stores and ATM locations. The company has a history of innovation, launching its online business in 1999 and expanding into new areas like prepaid cards, payments, and ATMs. However, in 2014 Travelex recognized that consumer behavior was changing and pivoted to focus on lifetime customer value over individual transactions and shift investment to digital. This included launching new products like the Supercard, which allows fee-free global spending, and improving social media engagement. Travelex believes understanding customer data better will help form relationships and increase sales through offerings tailored to different traveler types at different stages of their

1. 1
Company Overview - Strictly Private & Confidential
Digital in Travel
Travelex’s Journey
Tom Wright,
Head of UK Marketing

2. 2
22
of the world’s top 35
airports work with us
Who We Are
• Travelex is the category leader in FX with multiple firsts, including multi-currency pre-paid
cards, automated cash processing solutions and foreign currency ATM’s
28
Countries
100+
Airports
70m
Transactions
1.7 billion
passengers pass through
our stores
1500+
ATM Locations

3. 3
Travelex is innovative and entrepreneurial at its heart
Continuous innovation has driven, and continues to drive, Travelex’s performance
1999
Launched Online
 Launched in UK in
1999
 Presence now in
23 countries
FX & DCC
ATMs
 Launched in
UK in 2006
 Market
leading FX
and DCC ATM
provider in 16
countries
Corporate
Payments
 Grew a payments
business in 14
countries with
revenue of more
than £130m
before sale
Prepaid Cards
 Acquired
and built Cash-
Passport prepaid
cards business
International
Payments
 Master agent for
Western Union
 TMT cash to bank
service in the Middle
East
 Launched consumer
payments via OzForex
2001 2006
20112004
DCC – Currency
Select
 JV with Currency
Select in 2004 and
purchased the DCC
assets in 2008
Taxidia
 Launched
development of
market leading
cash handling
automation;
first orders
processed in
2014
2012
Travelex Founded
 Lloyd Dorfman
opens first store in
London
1976
International
Expansion
 Travelex opens its
first overseas
branch in the
Netherlands
 Goes on to open
stores in US &
Australia in 1989/90
1984
USA Growth
 Travelex takes
over the
Mutual of
Omaha, with
stores in 50
terminals at 34
airports across
the US
1993
Heathrow
Store Opens
 Travelex
becomes the
first non-bank
foreign
exchange
provider at
Heathrow T4
1986
The Early Years
Agile & entrepreneurial growth
The Era of New Product Innovation
Innovation driven growth, reacting to changing times
Digital Growth
A natural progression
?

4. 4
… but consumer behaviour is changing and in 2014 the
business made a decision to pivot
• Refocus Around our
Customer
• Focus on LTV not ATV
• Be Brave, Challenge
the Status Quo
• Innovate & Lead…
Shift the Investment to
Digital

5. 5
Understanding Customers is Key…
Hands up…

6. 6
Different People Do Different Things… And Are Changing
Journey
Pre-Trip
Planners
Airport
Purchasers
In-Trip
Spenders
Pre-Trip Spend
Airport Walk-
Up/ATM
In-Trip (ATM/PoS)
• Different people
choose different
ways to spend
abroad
• FX Behaviour is
changing with
product supply and
consumers adoption

7. 7
2014 2015 2016 2017 2018 2019
Build New
Products
eCommerce
Build Out Capabilities
Reduction in ‘share’
coming from “core”
“core”
only
Cultural change & ‘digital transformation’
of business over time
Launch
Transformation
initiatives
Our Transformation Journey

8. 8
Supercard: Disruptive Innovation in Travel Spending
• Free to get with no fees or
charges
• Can be used globally, wherever
MasterCard is accepted
• Track what you’ve spent and
how much you’ve saved
through the app
• Chip and PIN protected, giving
you peace of mind
• Supercard is an app and card combo that gives customers the freedom to
travel without bank card roaming charges

9. 9
So Far Customers and Media Love It
"Travelex are actually going to eat these guys [the
competition] breakfasts. It's a phenomenal card.”
Currency Cloud Founder told Business Insider magazine
“Best open-to-all Travel card,” Helen Saxson, Money
Saving Expert
“A useful tool to help cut the cost of your holiday
spending if you are guilty of falling back on your credit
or debit card when cash runs out, particularly as it
costs nothing to download the app or order the card.”
Emma Gunn, Mail Online

10. 10
We’ve step changed our game on social to engage with
customers

11. 11
Understanding Customers is Key  Get More (Better?) Data!

12. 12
Which Helps Us Form Relationships & “Sell More Stuff”
• It’s all about selling
more stuff
• Ideally to more people
• Ambition of driving LTV
• And creating advocates
who promote us

13. 13
Some Reflections – This stuff isn’t easy but it IS rewarding
• Building the engine while
flying the plane
• Dealing with ambiguity
• Managing expectations
• Old vs. new

14. 14
Some Reflections – Be Bold and Push Hard For Change
• Set big goals
• Don’t accept the status quo
• Not proactively driving
customer migration assumes
customers are idiots
• Remember, if you don’t
someone else probably will

15. Thank - You