US : American Express Announces New Travel Payment Options for AARP Members

American Express today announced an agreement to offer AARP’s 35 million members the opportunity to conveniently buy American Express Travelers Cheques, TravelFunds Card, and foreign currency over the phone and on the AARP website. American Express is now a provider, under the « AARP Privileges » program, which means AARP members who purchase American Express payment products will receive special offers.

When AARP members load $1,000 or more onto a TravelFunds Card or purchase that amount in Travelers Cheques and/or foreign currency, they will receive a complimentary emergency travel kit designed especially for AARP members. AARP members can also purchase American Express foreign currency Travelers Cheques and foreign currency fee-free. AARP members can purchase all American Express travel payment products by calling 1-800-721-9754 or on the AARP Web site.

« Today’s over-50 consumers are very savvy, seasoned travelers looking for ways to make their trips safer and more convenient, » said Valerie Soranno Keating, President, American Express Travelers Cheques and Prepaid Services. « That’s what American Express has been doing for travelers all over the world for more than 113 years. We’re excited to have the opportunity to work directly with AARP to meet the needs of its members. »

« AARP Services, Inc. (ASI) is dedicated to making products available that deliver value to AARP members. This new convenient way to meet travel funding needs from American Express is just that, » stated Laura Rossman, Vice President, ASI. « Our research shows that Americans age 50 and over travel more often, both in the U.S. and abroad than younger consumers, making this new product a perfect match for members on the move. »

Americans over the age of 50 have both the time and the money to travel. They control a household net worth of $7 trillion, accounting for 70 percent of all financial assets in the U.S. and spend more than $30 billion each year on vacation travel.

According to the U.S. Census Bureau, older Americans are the fastest growing segment of the total U.S. population. By 2010, the Bureau projects that the number of Americans between the ages 45 and 64 will be over 80 million, accounting for 26% of the total U.S. population, compared to the 62 million Americans reported in 2000. It also projects that by 2010, Americans age 45 and up will account for over 39% of the total U.S. population.

As a global leader in payments and travel, American Express products offer travelers a level of safety and convenience that no other payment method provides. American Express products are designed to bring true peace of mind to travelers worldwide.

• American Express Travelers Cheques are accepted almost everywhere in the world and are refundable if lost or stolen, usually within 24 hours. American Express Travelers Cheques and the TravelFunds Card offer worldwide passport and credit card replacement assistance, at no additional cost, as well as American Express customer service support worldwide 24 hours a day, 7 days a week. American Express Travelers Cheques are available in nine currencies, including the Euro, British Pound Sterling, Canadian Dollar, Saudi Riyal, Swiss Franc, South African Rand, Australian Dollar and Japanese Yen.
• The American Express TravelFunds Card is a prepaid, reloadable card that has all the safety and security of Travelers Cheques in a convenient plastic card. The TravelFunds Card can be used at merchants and ATMs worldwide that accept the American Express Card. The card provides travelers with a safe and convenient way to carry their travel funds, including the ability to obtain a refund, usually within 24 hours, if the card is lost or stolen. The card is also reloadable from virtually anywhere. And unlike a debit card, the TravelFunds Card is not linked to a bank account, providing further protection from financial theft and loss.
• Foreign Currency is available in more than 35 currencies including the Euro, British Pound Sterling, Canadian Dollar, Mexican Pesos and Japanese Yen.

 
AARP is a nonprofit, nonpartisan membership organization dedicated to making life better for people 50 and over. AARP provides information and resources; engages in legislative, regulatory and legal advocacy; assists members in serving their communities; and offers a wide range of unique benefits, special products, and services for its members. These include AARP The Magazine, published bimonthly; AARP Bulletin, a monthly newspaper; AARP Segunda Juventud, a quarterly publication for Hispanic members; NRTA Live & Learn for National Retired Teachers Association members; and its Web site. AARP have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

AARP Services, Inc. (ASI), a wholly owned subsidiary of AARP, manages a wide range of products and services offered as benefits to our 35 million members. These include Medicare supplemental insurance; automobile and homeowners insurance; member discounts on rental cars, cruises, vacation packages and lodging; life insurance; a credit card; pharmacy services; alternative health services; legal services; long-term care insurance, and technology products.