If TorFX founder Jon Beddell has his way, traveller’s cheques will one day be replaced by a pre-paid travel debit card carrying different currencies like the one his company offers in partnership with Mastercard. TorFX handles large foreign-currency transactions of £5,000 and above from its base in Cornwall. It claims to register more than 500 individual and corporate clients monthly, including Ginsters and Mitsubishi Carbide. The firm says its competitive pricing has pushed up sales—measured by gross transaction value—217% a year from an annualised £8.3m in 2005 to £265.4m in 2008.
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