As a leading provider of foreign currency and financial services around the world, ChangeGroup has been serving international travelers since 1992. Throughout its nearly three decades of service, ChangeGroup’s focus on currency exchange and other financial services in more than 120 locations in 37 cities across the world has driven its growth, with continued plans for expansion. Innovative and with a constant eye on the future, ChangeGroup has also developed state of the art ATM systems and payment technologies, deploying these platforms across Europe, USA and Australia to support its customers’ needs.
Change Group was founded in the UK in 1992 and still operates its headquarters and a large network of branches across the country. Family-owned since its start and originally backed by private equity house 3i Plc, ChangeGroup takes pride in its passionate team of customer-focused professionals that continue to provide a world-class personal approach to over 5 million international travelers each year.
Our full range of premium products and services have been uniquely developed with our international travelers and international business customers in mind throughout. Regardless of their destination in the world, we know first-hand that our international travel customers still prefer the simplicity and convenience that comes with paying in cash while traveling abroad. They appreciate the wide range of services such as instant tax refunds on their shopping, the ability to send and receive money worldwide in an instant with Western Union, to make a wide range of bill payments and to deposit funds with banks.
Our Vision of “Serving the International Traveler Worldwide” and Mission to “Provide Engaging and Convenient Financial Services to International Travelers and Businesses” help guide all that we do.
Corporate and social responsibility also play an integral part of our dynamic here at ChangeGroup. This is why we always play an active role in the communities we serve and donate 3% of ChangeGroup’s global profits to a range of charities.
Awards and Recognitions
- Sunday Times Top Track 250 organization
- Queens Award for Enterprise (2006)
- Awarded Investors In People standard by United Kingdom’s Department of Trade & Industry
Cash in High Demand
While there is no denying that technology has been key in changing and evolving the ways in which businesses and consumers pay for goods and services, demand and use of cash remains at an all-time high. Indeed in many cases, the use of cash continues to grow, as people around the world increase their spending power and the huge growth in travel and tourism shape the industry..
On a global scale, nearly nine out of 10 transactions are still made with cash. In looking at Europe alone, the total value of euro banknotes in circulation has grown dramatically in recent years. According to the European Central Bank, the value of euro notes in circulation in 2002 was €281 billion. As of 2017, that number had more than quadrupled to more than €1.126 trillion. Even accounting for the entering Euro member states, it represents an astounding growth in demand for cash.
Many factors go into why cash is still preferred by so many in the world. When traveling to foreign countries, cash is typically the go-to method of payment as in most cases it is still the most practical, easiest and economical method. Preference for cash also includes concerns around identity theft and privacy that today’s technological advances have brought with them. Then there are the more fundamental reasons like having more control over their spending and the simplicity of leaving a gratuity for good service. Consumers can also often obtain discounts when paying in cash, because credit card companies charge the retailer a fee on each transaction, as well as delay paying them for many days or even weeks.
More information about this fascinating and important subject can be found here.
Supporting Growth of Global Retailers
ChangeGroup’s award-winning products and services play a key part in ensuring that global consumers and investors are able to obtain the cash they need easily and securely, regardless of where they are traveling to in the world.
In doing so, we help to support global retailers of all sizes earn hundreds of millions in profits each year with additional sales to global customers, many of whom would not have been able to purchase their products without our services.