Earlier this month, Centtrip Music founder & CEO Tony North told artist managers – via MBW – that his company could help them turn their backs on “financial institutions that have been overcharging the music industry for years”.
It appears they listened.
Centtrip Music, a bespoke division of the multi-award winning company Centtrip, aims to help companies avoid unnecessary charges and commissions linked to currency exchange.
In addition to its standard Global Currency Account – which provides foreign exchange (FX), payments and expense management to the music industry – Centtrip Music recently introduced a prepaid Mastercard that allows live touring parties to manage finances and enjoy considerable savings.
“Unfair FX charges and rates have been a bugbear of ours for a long time and Centtrip Music have delivered something that the music industry really needs.”
Tim Clark, ie:music
The Centtrip prepaid Mastercard, which holds 14 currencies simultaneously and is accepted worldwide, has been designed to help road managers, crew and all other personnel involved in large scale, multi-territory tours to avoid unnecessary foreign exchange fees and to pay all costs in local currency.
ie:music ltd is now using the card to help manage the forthcoming six-month international tour for their client Robbie Williams.
ie:music and Robbie Williams already use the Centtrip Music Global Currency Account. Now, over 100 cards will be issued to the members of the Robbie Williams touring party, which will be utilised to pay for everything from hotels, travel, crew per diems and much more.
The cards will be pre-loaded with local currency avoiding FX costs and simplifying accounting procedures.
Currency can be loaded onto cards online or via the bespoke Centtrip app, which can also be used to view all transactions and fees in a fully transparent dashboard linked to the clients Global Currency Account.
Tony North, co-founder and co-CEO of Centtrip said, “Centtrip Music was launched to provide FX services and payment solutions for the music industry.
“We are aware that major artists who tour internationally are often incurring unnecessary fees for their FX transactions, whether it is from payments they make on credit cards issued by the high-street banks or from converting their tour earnings back into their local currency.”
TonY North, Centtrip Music
“We are aware that major artists who tour internationally are often incurring unnecessary fees for their FX transactions, whether it is from payments they make on credit cards issued by the high-street banks or from converting their tour earnings back into their local currency.
“The Centtrip Music prepaid Mastercard and Global Currency Account gives artists and their representatives access to the live currency market, levies a fraction of the fees charged by other institutions and provides an easy-to-use secure online portal and elegant app from which they can buy currency, transfer funds and see exactly what charges they have incurred in real time. Tim Clark and his team at ie:music have been instrumental in helping us design a solution that works for the international live music sector .”
Tim Clark, Chairman of ie:music said, “Unfair FX charges and rates have been a bugbear of ours for a long time and Centtrip Music have delivered something that the music industry really needs.
“We operate in a global marketplace and need to be able to switch between currencies and transfer our earnings without incurring ridiculous fees. The forthcoming Robbie Williams tour, which takes in numerous territories over a six-month period, provides the ideal opportunity to prove the effectiveness of this new initiative.”Music Business Worldwide