Travelex to debut new forex booking tool

Travelex to debut new
forex booking toolT
RAVELEX will introduce
a corporate booking tool
early this month, designed
to make buying foreign
exchange for FICA-registered
corporate travellers quicker,
easier and more efficient, both
for travellers and travel agents.
The tool, which is accessible
from any smart device,
allows agents and travel
buyers to place orders on a
corporate’s behalf, which are
then delivered with no need to
present FICA documents. The
agent or travel buyer can also
track these orders up until
delivery.
Kananelo Makhetha, ceo
of Travelex Africa, says the
reason for developing this new
booking tool is that Travelex’s
leisure booking tool is not
corporate-friendly as it requires
orders to be picked up from a
Travelex store on presentation
of FICA documents. “The
corporate booking tool is ideal
for corporates that want their
travel managed properly, as it
allows them to assign approval
to their TMC to help track
and manage their spend,” he
says. “It is equally beneficial
to corporates and agents
but specifically beneficial to
agents in the sense that it
can be incorporated and white
labelled into their TMC’s online
platform and booking tool.”
Corporates have to register
agents and travel buyers to
allow them to place orders on
behalf of their companies. To
do this, the company’s ultimate
shareholders need to set up a
once-off meeting with Travelex
to finalise and store the
company’s FICA documents,
create a company profile and
then finally register those who
can buy on its behalf.
Thereafter, Travelex reviews
these documents every six
months and closely monitors
its transactions for any
abnormal buying patterns
during the period. If anything
abnormal is observed, Travelex
will question the company
appropriately.
Travelex is currently testing
the tool on a client and will
debut it to the public shortly
thereafter. The company may
also consider turning the tool
into a mobile app.