Through a new deal with MasterCard, hundreds of thousands of US students will now be able to use their International Student Identity Card (ISIC) as a prepaid debit card when travelling abroad.
The ISIC Prepaid MasterCard, which will be distributed by STA Travel US, provides all of the ISIC’s travel discounts but also serves as a secure payment method which can be used anywhere MasterCard is accepted.
ISIC issues 160,000 cards on average each year in the US, but the organisation expects 250,000 US students will purchase the debit card in its first year.
“All around the globe, young adults want help managing their financial responsibilities and they seek safe, simple and smart ways to pay,” said Paul Musser, global debit strategy and product at MasterCard Worldwide.
“Our partnership with ISIC for the all-in-one prepaid ISIC-MasterCard enables students to easily manage their financial resources, achieve their budgeting goals, and make those important purchases down the street or around the world.”
The card can be used anywhere MasterCard is accepted
The card costs US$25 and no bank account is required. Students can manage their account and receive text alerts through the American ISIC website.
It is also insured by the Federal Deposit Insurance Corporation (FDIC) and protected by MasterCard against unauthorised transactions or fraud.
The US is the 11th country to adopt the card since 2009 after the likes of Argentina, Hong Kong and Russia, and ISIC says more countries are in the pipeline. The International Student Identity Card (ISIC), which provides preferential access to more than 40,000 travel products, services or experiences worldwide, is held by over 4.5 million students each year.
