London, United Kingdom, 15th December 2020 – DECTA, the provider of end-to-end services for payment processing, acquiring and card issuing announces partnership with Travel Union – the travel-focused digital banking platform for individuals, families and travel industry partners.
Together with DECTA, Travel Union brought a unique solution in fintech from a combination of IT, banking, payment and travel. The company’s mission is to unite people going on holiday and travel companies through a unique and most flexible loyalty system called #TIME.
With mobile banking app – myTU, parents can open free accounts and order debit cards not only for themselves but also for their children from the age of 7. Like adults, children receive a personal account and a debit payment card that can be managed by parents through the app in their native language.
Automated daily allowances, instant money transfers, ATM withdrawals up to €200, currency exchange and real-time monitoring of a child’s financial activity are just a few of the free features offered to myTU users. By using myTU mobile banking children can learn financial literacy and become more independent at the same time making families’ daily financial routine simpler and less stressful. Travel Union is the best solution for families with children as no one in the market offers such a comprehensive package of free services as Travel Union does. For the convenience of the potential clients myTU app has a demo mode to check all the functionalities without giving out any personal information.
By using the app and paying with a card, myTU app users gain #TIME loyalty points that can be converted into cash. In the nearest future, the app users will be able to save money from Travel Union’s tourist industry partners in the form of discounts and last-minute deals offerings.
Despite the current slowdown in the tourism industry Travel Union offers their clients to start collecting #TIME loyalty points now as when all restrictions are over, they will be among the first to gain access to the partners’ travel benefits with a significant amount of #TIME on their balance.
Raman Korneu, CEO of Travel Union, says “We are delighted to have DECTA as a partner who helps us to reach our goals. The payments industry is challenging; however, DECTA’s team has shown skillfulness and a truly high-class approach. The quality of our service is important, and, thanks to DECTA’s team, we are able to provide it”.
Travel Union mobile banking services are ensured by DECTA. Travel Union’s cards are issued under the DECTA Smart program. Starting from technical solutions with Mastercard payment network and integration of DECTA’s card management system into the Travel Union platform and ending with the function to easily top-up its card, using another payment card. Additionally, DECTA offers card personalization and delivery to Travel Union cardholders within the EU and provides 3D Secure authentication, fraud and dispute management and push notification services.
Travel Union is the first co-brand that has implemented host-to-host integration for financial authorization switching and balance management on the Travel Union side that allows them to manage and apply the advantages of its loyalty scheme.
Santa Kiršbauma, Vice-President, Head of Product Development in DECTA, says “We are happy to work with a company that thinks outside of box solutions. Travel Union’s product is innovative, and it is a great experience to work with advanced clients and reach the best solution.”
About Travel Union:
Lithuania-based Travel Union is a fintech startup, digital banking platform and payments solution that provides additional value to tourists and families with children by connecting them with special offers from travel industry partners.
About DECTA:
UK-based DECTA is a fully licensed e-money institution, authorised by the FCA UK, that provides end-to-end services for payment processing, acquiring and card issuing for thousands of customers In EEA – including banks, financial organizations, payment services providers and online merchants.
For further information please contact:
Jūlija Ļitvīnova, DECTA
+371 28 004843
julija.litvinova@decta.com
