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Thomas Cook launches first of its kind dedicated Forex Card Mobile App to manage multiple currencies on-the-go

Posted On: 2018-10-10 14:51:17

As part of its Digital Strategy, across its core Travel and Foreign Exchange businesses, Thomas Cook (India) Ltd., India's leading integrated travel and travel related financial services company has delivered on a series of innovative mobile-first initiatives: the Holidays, Visa & Forex Online Stores and Apps, iLead-a unique CRM integrated Holiday Sales App, its award winning Tour Manager App and customer self-service App, Click2Book for business travellers, an advanced webtechnology platform Astra, robotics and machine learning, Voyager-a customised holiday bundler, etc.

With a YoY growth of 16%, the highest estimated growth rate by any country in the world, more than a quarter of India's population is expected to be using smartphones by the end of 2018 (337 Millionn users) Source: eMarketer, the US-based market research firm. Not surprisingly, the adoption of mobile apps too has seen rapid evolution- across not merely travel, but also foreign exchange transactions. Data from Thomas Cook's Foreign Exchange business highlights the clear shift with a 47% growth in mobile transactions. Hence, in a strategic move to empower the new age, mobile-first Indian traveller, the Company has launched the Thomas Cook Borderless App. This, the first of its kind dedicated app, enables its multicurrency Borderless Prepaid Forex Card users to access and manage their Borderless Prepaid Card account anywhere, anytime, from the convenience of a smartphone.

Thomas Cook's new app while focussing on convenience and global access, aims to further delight users with its safety-security and emergency assist.

Key features of the Borderless App

- Real time access to the Borderless Card account
- Manage account and transactions
- Global ATM Locator to 2 Million ATMs, across 210 countries
- Instant Card blocking in case of emergency
- In app customer support

Mr. Kailash Gupta, Senior Vice President & Head, Payment Solutions Thomas Cook (India) Ltd. said, "Today's impatient new age traveller is increasingly opting for convenience and we are witnessing a significant consumer shift to mobile-led platforms for both travel and foreign exchange. Hence in our digital focus to empower our travellers, we have launched a dedicated app for our Borderless multicurrency prepaid card users. The app, with its real time services, will significantly improve customer experience and enhance convenience and safety-security, an essential ask for today's global traveller."

Launched in partnership with MasterCard, Thomas Cook's multicurrency Borderless Prepaid Card has witnessed strong adoption since its launch, with over 0.5 million active customers today.

Shares of THOMAS COOK (INDIA) LTD. was last trading in BSE at Rs.194.4 as compared to the previous close of Rs. 200.9. The total number of shares traded during the day was 32171 in over 778 trades.

The stock hit an intraday high of Rs. 200 and intraday low of 193.1. The net turnover during the day was Rs. 6290069.

Source: Equity Bulls

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