The new card will allow travelers to load British Pounds, Euros, Canadian Dollars, Australian Dollars and Japanese Yen either online or in Travelex stores.

The card features a magnetic stripe, a chip and PIN technology, which will enable it to be used wherever debit MasterCard or Maestro is accepted globally, including ATMs.

Travelex said the card can be replaced if it is lost or stolen and is not connected to the cardholder’s bank account.

MasterCard group executive of US markets Michael Weitzman said, "This new program helps provide our cardholders greater peace of mind as they plan travel across North America or around the globe."

Travelex Currency Services president Jon Dario said the Multi-Currency Cash Passport was developed in response to demand from customers who are searching for improved convenience while traveling abroad.

"We understand the need to evolve with market and industry trends – as such, we look forward to adding additional currencies to continue to meet customers’ needs," Dario said.