Qantas launches Qantas Pay travel money card

The new card marks a fresh push into the increasingly popular ‘travel money’ space.

By David Flynn, April 16 2024
Qantas launches Qantas Pay travel money card

Qantas is hoping frequent flyers as well as infrequent flyers are willing to add a new card to their wallets with the impending launch of the Qantas Pay travel money card.

However, the new white Qantas Pay card is actually a rebranding of the Qantas Travel Money product – a prepaid multi-currency travel money card first known as Qantas Cash back in 2013. So what’s changing?

While the current Qantas Frequent Flyer membership cards double as a travel money card, Qantas Pay will be its own standalone card.

The new-look Qantas Pay card.
The new-look Qantas Pay card.

How does Qantas Pay work?

The new Qantas Pay cards will be issued starting from May 2024, and as each frequent flyer’s membership year rolls around, they’ll receive a new-look Qantas Frequent Flyer card without the travel money functionality (although the Qantas Travel Money card on the flipside of each membership card will remain valid until it expires).

Qantas Pay will continue to offer up to ten currencies in ‘virtual wallets’ which can be used overseas or online, although we wouldn’t be surprised if more currencies were added to this list in the future.

As you’d expect, money can be loaded into an Australian bank account and then across to any of the supported international currencies, or converted between currencies.

(One tip for cards like this: consider setting up a weekly or monthly automatic transfer from your bank account to the card, so your Australian balance steadily grows and is always ready to be converted to a foreign currency; this also doubles as a form of travel savings account ahead of your next trip.)

And unlike the current Qantas Travel Money product, the Qantas Pay card will support Apple Wallet and Google Wallet later in the year as part of the card's post-launch ‘evolution’ pathway.

Qantas Pay users will also continue to earn 1.5 Qantas Points for every AU$1 spent in foreign currency, with a reduced rate of 1 Qantas Point for every AU$4 spent in Australian dollars (or 0.25 points per dollar, if you’d rather break it down that way).

By moving to a stand-alone branded Qantas Pay card, the airline no doubt hopes to tap into a broader customer base than its own 15 million frequent flyers, while also bringing them into the warm embrace of the Qantas brand.

However, Qantas Pay will also rely on the marketing muscle of its parent brand when competing with similar prepaid travel money cards from banks, Travelex, Australia Post and global heroes Revolut and Wise. Rival Virgin Australia canned its own Velocity Global Wallet card in July 2021.

Qantas Pay takes its place alongside Qantas-branded credit cards, the Qantas Business Money platform plus home and personal loans, health and travel insurance, and “investment and wealth management solutions” in the financial services portfolio of Qantas Loyalty.

Having proved a revenue powerhouse during the pandemic, Qantas Loyalty is expected to deliver a record $500-600m in earnings for the 2024 financial year as it flies towards an ambitious goal of up to $1bn in earnings by 2030.

An estimated 35% of all credit card transactions in Australia are made on a Qantas Points earning credit card, demonstrating the value frequent flyers put on earning points through financial products.

24 Aug 2011

Total posts 1198

I looked at Qantas Travel Money last year as an option for a family holiday to Europe.  Apart from not offering an Apple Wallet option, the exchange rates offered by Qantas were terrible.  I went with Revolut instead.

Qantas - Qantas Frequent Flyer

23 Dec 2015

Total posts 26

Generally these product represent poor value when compared to cards using MasterCard’s exchange rate with no currency conversion fees. I spend over $4,000 a month in foreign card purchases, so the CommBank Ultimate works best as I can avoid all fess and earn 1.2 Qantas points be $1 AUD equivalent. Alternatively, Bankwest Qantas World MasterCard is a good all-rounder with 1 Qantas point per $1 on all purchases, including those in Australia. 

Qantas - Qantas Frequent Flyer

02 Jul 2011

Total posts 1377

Can only see usage of this product falling if it's not on the FF card (unless of course they are getting rid of the cards and going virtual only)

Turkish Airlines - Miles & Smiles

08 Jun 2014

Total posts 266

Qantas Money has been useful on international travel and international purchases online. Now looking at the new logo… it’s not a good look. On that note, I’d rather my physical Platinum QF card be used as a Prepaid card… why the change? I don’t need another card in my pocket. 

Qantas - Qantas Frequent Flyer

08 Nov 2014

Total posts 15

All stored value give rubbish exchange rates. I haven’t used the Qantas card for years for that reason. Same for the Virgin offering. Unless they start offering realistic exchange rates I consign the new one to the bin as soon as it arrives. 


25 Jun 2019

Total posts 8

There’s nearly zero reasons to use Qantas Pay for FX transactions. The exchange rate is dreadful and there are much better options out there. The only selling point here is the 1.5 pts per $.

E.g. HSBC offers a Global Money debit card which is fully linked to their bank accounts (in AUD or any other currency they offer, so you could hold saving in foreign currency and just move the amount you need to the card instantaneously). That is, of course, with no Qantas points. 

But if Qantas points is what you’re after, then credit cards with zero FX fee are the way to go. E.g. CBA Ultimate Rewards offers zero FX fee, a very good almost mid-market conversion, and 1.2 Qantas points per $ spent on international transactions. And that’s without being limited to a list of currencies. 


25 Jun 2019

Total posts 8

Also important to mention, both options in the examples above support Apple Pay and Express Transit Integration (always handy to touch and go with your phone or watch in London, Singapore, etc.).

Qantas - Qantas Frequent Flyer

26 Oct 2013

Total posts 33

Stupid idea. Means an extra card. The dual function card is great.

03 Feb 2018

Total posts 73

This is a significantly worse product than various others mentioned (HSBC, Revolut).

My last trip, I used Wise (used to be called TransferWise). Not only does it give better rates than Qantas, it actually gives you bank account details for the UK, EU, Canada, US, NZ and Singapore.

So, I was travelling around Bali with some Dutch friends. They don't have Aussie bank accounts and I don't have a Dutch bank account. When one of them booked an AirBnB, I was effectively able to create an EU bank account for myself. (through the Wise app). That way, I could easily pay my friend bank by transferring Euros across to their bank account. Similarly, when made booking, I could receive payments from them in Euros into my EU bank account.

Not sure if Revolut or Monzo offer those features. But it's far more useful than the Qantas Cash Card (which, by the way, is missing a bunch of currencies that you find in Europe).

Executive Traveller, you should do a review of that product. More helpful for travellers.

Qantas - Qantas Frequent Flyer

28 Sep 2021

Total posts 16

Im not sure about the tip to regularly top up AUD into Qantas Money, the sting to convert AUD within Qantas Money is worse than pre-loading, you can lose over 5% compared to spot rate, in my experience.

Whilst handy the QF dual card is better than carrying two cards, but the exchange rate is very poor.

Qantas - Qantas Frequent Flyer

28 Sep 2021

Total posts 16

If I have to carry a second card, I may as well get a better card with a better exchange rate.

QF once again not in touch with customners.

Hi Guest, join in the discussion on Qantas launches Qantas Pay travel money card