Virgin Australia is trying something new with its Velocity Frequent Flyer programme – by adding a new side to it called “Global Wallet”
Virgin Velocity Cards will be issued with a Prepaid Visa function – when activated, allowing members to:
- Load money onto their card and store it in multiple foreign currencies as well as Australian dollars
- Make Purchases where the Visa symbol is displayed
- Withdraw funds
- Earn Velocity Frequent Flyer Points for purchases made using their Global Wallet, both in Australia and overseas.
Velocity Frequent Flyer Chief Executive Officer Neil Thompson says:
“This new prepaid innovation encapsulates Velocity Frequent Flyer’s proposition as a multi-faceted program that pushes traditional boundaries.
Not only will our cards be the access point to a range of Velocity benefits including seamless check-in, access to lounges and priority services, they will make spending in Australia and overseas an easier, more rewarding experience.
“Through our strong global network with Etihad Airways, Singapore Airlines, Delta Air Lines and Air New Zealand, our members can earn Points on flights around the world and this initiative is another way they can be rewarded right throughout their journey.”
The cards that will be issued will be Chip compliant, as well as featuring Visa PayWave (contact payment).
Leading up to the launch, Velocity Frequent Flyer will be inviting existing eligible members to request their free new membership card via email. Members who get the card can active the wallet fucntionaity online at time of their convenience.
Global Wallet will launch in what Virgin Australia calls “a few months”.
It’s an interesting proposition – more points for spending on a PrePaid card, with the ability to store different currencies on one card whilst locking in exchange rates at time of purchase. The interesting thing will be be to see the costs to handle this pre-paid card are worth the miles that could be earned.
For Virgin Australia, this could be a data goldmine, allowing them to target customers precisely down to their spending habits.
A very interesting idea – will it catch on?
can it be loaded with visa gift cards?
Yeah, if you can load these via a credit card, then earn velocity points for the spend on the ff card, this could be a pretty decent double dip.
They are just catching up to Qantas who announced this two months ago.
It would be interesting to find out the small prints and charges to load the money into the card. Also nice to find out the transaction fees for using card in overseas…