AUSTIN, Texas & MEXICO CITY--(BUSINESS WIRE)--Today Rêv Worldwide, Inc. (“Rêv”), a global payments & loyalty product innovations company, and Visit Mexico, Mexico’s official tourism marketing agency, announced a multi-year strategic partnership aimed at fostering cross border tourism by leveraging innovative digital products and services that facilitate engagement, convenience and value for the travel sector.
With the introduction of the X World Wallet, a multi-currency debit account accessible by downloading a mobile app, linked to physical and digital Visa cards, and integrated loyalty program, Rêv and Visit Mexico take a first step in offering a suite of products and services with a mission to promote tourism activity for one of the world’s most important travel corridors.
The X World Wallet, now available nationwide, puts in the hands of its users a powerful tool that facilitates international transactions, discounts on travel bookings, and a points based loyalty program that helps maximize value for the user. While there are a variety of branded and co-branded credit products targeting the travel market, the availability of a mobile-first debit product that combines payments, foreign currency exchange, loyalty, and bookings is part of a recent wave of innovation that is giving consumers an alternative from credit cards with application requirements, high annual fees, interest rates and restrictive loyalty programs.
“We are proud to be working side by side with Visit Mexico to put our technology to work so that travelers can access relevant and hassle free tools to facilitate their journey,” said Bertrand Sosa, President & Chief Marketing Officer, Rêv Worldwide.
Given continued pandemic impacts globally across the travel industry, consumers and industry players alike are seeing how digital solutions play an even more important role in helping to reduce friction as well as open the opportunity to enhance key aspects of the travel experience. While the pandemic has decimated the travel industry globally, Mexico is one of the few countries who kept air travel open throughout the challenging times. The World Tourism Organization (WHO) estimates Mexico was the third most-visited country in the world in 2020.
“As we continue to establish Mexico as the best destination for travelers from around the world, we are excited to collaborate with Rêv on the development of useful products that help us connect with travelers and help make their travel experience better - beginning with making it easier, cheaper and safer for Americans to transact in our country,” noted Carlos Gonzalez Gonzalez, Chief Executive Officer, Visit Mexico.
In a recent report citing travel recovery trends, Ryan Felipe, Visa’s Head of North America Cross Border Business noted, “Travelers continue to seek digital-first experiences throughout their journeys – from planning and booking to paying for dining and shopping while on the road. This provides an opportunity for financial service providers and businesses to drive increased engagement with their customers via trigger-based offers and messaging to drive loyalty.”
The X World Wallet offers users access to person-to-person payment transfers, tap-and-go purchase convenience, virtual and digital pay card functionalities, block/unblock account security features, and an integrated support platform to automatically contribute to climate change initiatives. The no credit check, low fees, no application reloadable X World Wallet™ Visa Debit cards available on the X account are issued by Texas First Bank, pursuant to a license by Visa Inc., and subject to cardholder Terms & Conditions. There are no offline or online purchase transaction fees, or foreign conversion fees when using the X World Wallet Visa card(s). Standard ATM fees and applicable FX rates do apply. For more information on the X World Wallet, visit xworldwallet.com.
Rêv and Visit Mexico are also collaborating on making available the X World Wallet in Mexico in early 2022 so Mexicans traveling abroad may also enjoy the benefits US tourists have access to now.
Rêv is a fintech company, founded by prepaid debit industry pioneers Roy Sosa and Bertrand Sosa, dedicated to delivering innovative payment experiences to consumers worldwide. Its solutions are powered by the company’s proprietary multi-currency and multi-language payments processing platform. With vast experience developing payment industry innovations, Rêv is focused on the general, international banking & travel sectors. Rêv has partnered with companies across the globe to launch products in the Americas, Europe, the Middle East, and Asia-Pacific. Learn more at revworldwide.com.
About Visit Mexico
Visit Mexico, the official brand under which Mexico’s Tourism Board has promoted domestic and international travel within-and-to Mexico for years, is now a private-government collaboration operating as the official marketing agency in charge of developing tourism campaigns, partnerships, and innovative operating models to further tourism activity for the country around the world. For more information visit visitmexico.com.