Travelex

Travelex International Limited is a foreign exchange company founded by Lloyd Dorfman and headquartered in Peterborough, United Kingdom.

[4] On 8 November 2000, it bought Thomas Cook's worldwide foreign exchange business for £440m, which significantly expanded its international operations.

[4] In February 2005, buy-out firm Apax Partners bought a majority stake in the company, but Dorfman retained 30% and continued to run the business.

[10] In 2014, Apax Partners sold its majority stake of 51% to UAE-based Indian businessman B. R. Shetty valuing the company at approx £1bn.

[13] In October 2019 Travelex announced the launch of a US-based international payments system in partnership with Finablr and Samsung Pay.

"[16] On 31 December 2019, Travelex took its UK and international websites and mobile apps offline following a reported cyber incident[17] an action that also affected a number of large corporate third parties to whom Travelex provided a white-labelled travel money service[17] including the online travel money services of supermarket chains such as ASDA, Tesco and Sainsbury's, of which Travelex serves as the provider of these services using the supermarkets' branding.

[22][23] On 16 January 2020, the company announced that it had managed to restore the automated order placement used by several UK high street banks and that it would relaunch its international money transfer service by the end of the month.

[24] On 17 January 2020, boss Tony D'Souza said, in a video message on a back-up website, that the IT system used by in-store staff was working again.

[30] On 1 July 2020, Travelex ceased its international money transfer services in the UK and abroad, which had formerly been branded 'Travelex Wire'.

It confirmed its intention to actively continue a number of components within the group including Africa, Asia, ATMs, Brazil, Middle East, outsourcing and wholesale; but also to place under review (and retain in administration) other formerly-core areas of the remaining business including but not limited to its business in North America, as well as European stores and UK stores.

The expansion was announced in light of major regional events, such as Expo 2020 and the 2022 FIFA World Cup, driving a return to travel following the Covid-19 pandemic.

[40] In late 2022 Travelex launched the retail FX industry’s first ATM click-and-collect service at London Heathrow and Brisbane airports.

[45] By November, Travelex had launched a further 75 bureaux, kiosks and ATMs across airports, cruise terminals and railway stations across the UK Europe, APAC, South America and the Middle East.

[46][47][48] In Japan, Travelex celebrated 20 years of operations and launched its pre-paid Travel Money Card into the market in September.

[56] Travelex operates a wide range of foreign currency-based services, including: As of November 2021, the company has 55 international subsidiaries.