A travel money company is offering a new Clean Currency product of notes fresh from the mint to allay safety concerns of holidaymakers travelling after Covid-19.
Fin tech company Spendology has launched the “virus-free currency” as the industry begins to resume operations following months of lockdown – with quarantine restrictions to be relaxed from next week.
Brand new, completely sterile banknotes in euros or dollars are bundled up into small denominations by staff wearing PPE in a “complete separation” of workflow from normal Spendology currency deliveries, then delivered to customers using Royal Mail Special Delivery.
In situations where change cannot be avoided, Clean Currency includes ‘quarantine envelopes’ with every order.
Research by the company last month found that 57% of consumers were concerned about handling cash while on holiday overseas this summer.
But the firm said travellers prefer to use cash, with 83% of 2019 holidaymakers having had currency exchanges, and 86% doing so before departure.
Clean Currency can be sold by travel agents and tour operators for an extra margin and “to provide reassurance to their customers in the new normal”, and can also be accessed by travel professionals at cost for their own use.
Spendlogy offers a white label service, so agents can market the product as their own and can choose what price structure to offer it at. Average margins on a typical sale are between £25-35.
Karen Gee, marketing and business development director at Spendology, said: “Cash generally and foreign currency in particular is considered to be especially dirty. Brits strongly prefer to use cash on holiday rather than cards, I thought virus-free cash, designed for our new ‘coronaphobic’ world would offer reassurance and peace of mind to enable British holidaymakers to travel and use foreign currency again.
“So, I am delighted to invite the travel trade to partner with us to access a welcome extra margin to top up their financial year as to do so requires only minimal integration with most activity outsourced to us.
“We’ve all been living a strange new lockdown life and become very aware of germs and cleanliness. Our germ-free notes enable businesses to optimise their duty of care for staff and provide an extra layer of reassurance to team members who are travelling whilst allowing holidaymakers to get on and enjoy their holidays with one less thing to worry about.
Speaking to Travel Weekly, Gee added: “When the pandemic hit I thought about what I could do to help make a difference for customers and help put their minds at ease as we try to encourage more people to start travelling again. There’s a high level of anxiety around things we used to do without thinking about, such as getting cash before going on holiday.
“So this idea has come from a place in the heart, not a commercial opportunity. We want to help reduce anxiety in any way we can.”
A Clean Currency website is due to launch on July 8.