Virgin Australia is taking the scissors to its Velocity Global Wallet card, which let travellers pay for overseas transactions in up to ten currencies.
The prepaid Visa card was launched in July 2013 as a single piece of plastic which also served as a Velocity Frequent Flyer membership card, and competed against the similar Qantas Cash (now called Qantas Travel Money) card.
One of its features, which proved very handy for guarding against card number theft when online shopping, was the ability to create a 'virtual card' with its own unique number.
That card could be used just once, if you wanted to be super-cautious, with a new card and number conjured up for your next shopping session.
However, Virgin's Velocity Frequent Flyer division says that after almost eight years "we are winding down the Velocity Global Wallet program."
"You will continue to be able to spend or perform ATM withdrawals of your funds until 31 July 2021 and redeem your funds beyond that date."
But before then – from 1 February 2021, to be precise – "Velocity will no longer be associated with the Global Wallet product."
Global Wallet spends in Australia and abroad will no longer earn Velocity Points, while "fees will apply to ATM transactions and funds redemptions."
When Virgin introduced the Global Wallet card, Velocity members could pocket one point for every $2 spent in Australia (0.5 Velocity Points per $1) and for every $1 spent overseas.
The local earning rate was later pruned to one Velocity Point per $3 spent (0.33 Velocity Points per $1), and as of May 4 this year slumped to one Velocity point per $4 spent (0.25 Velocity Points per $1).
Virgin also clamped down on the types of purchases that qualify for points, although it dropped the $1.95 cash withdrawal charge imposed at ATMs in in Australia and overseas.