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Thomas Cook India expands its Payment Solutions portfolio

Posted On: 2021-09-15 09:48:00 (Time Zone: UTC)

With borders re-opening and travel gaining momentum, Thomas Cook India has announced the extension of its partnership with Visa - to include its Borderless Card, that empowers India's consumers with simple, secure and smooth transactions while travelling overseas. The Thomas Cook Borderless card can be loaded with nine global currencies on a single card - US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars, Thai Baht and United Arab Emirates Dirhams. Additionally, the partnership benefits customers with access / acceptance across the extensive Visa network over 70 million merchant establishments and ecommerce sites worldwide.

The pandemic has witnessed a rapid acceleration in India's shift to digital-first commerce. Consumer concerns on health/safety have only served to fast track the deployment of technology - reducing dependencies on physical touch points and enhancing contactless, fast and secure payment options. Visa's report reiterates that digital payments are here to stay: with nearly two thirds (65%) of consumers stating that post-vaccine, they would prefer to use contactless payments as much as, or even more than, they are currently (The Visa Back to Business Study 2021 Outlook)1

With this trend expected to have a significant and long lasting impact on payment solutions long after the pandemic, the Thomas Cook multicurrency Borderless Prepaid Card in association with Visa is designed to be future-ready, and brings customers a range of benefits including:

- Embedded Pin/Chip security with increased protection against counterfeiting and skimming card frauds and contactless technology.

- Customer-centric features on the card include instant loading, emergency cash disbursement and free replacement card in case stolen or lost and 24x7 global emergency assistance available via toll free access in over 80 countries.

- The card shields customers against currency fluctuations and allows transactions in any currency across geographies loaded on the card.

Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Limited. said, "As India sees a rapid shift to digital-first commerce, our sustained focus on technology led innovations has seen extension of our portfolio with the introduction of our Borderless multicurrency prepaid card in partnership with Visa. The card offers significant consumer benefits. In addition to nine global currencies, the chip and pin security enabled Borderless prepaid card provides customers with access to the largest global network of merchant establishments, ecommerce sites and ATMs. The top up and seamless shift to multiple currency wallets makes cross border travel smooth and effortless."

Mr. T R Ramachandran, Group Country Manager, India and South Asia said, "As economies around the world gradually open up, international travel is expected to gain momentum over the next few months. With a post pandemic world increasingly biased towards digital payments, cards have emerged as the default choice for international travellers the world over. We are delighted to partner with Thomas Cook as they launch Borderless Multicurrency Prepaid cards. The ubiquity and worldwide acceptance of the Visa network clubbed with the security and convenience of using a Visa card, will truly empower consumers looking for a digital payment solution for their international travel needs."

Shares of Thomas Cook (India) Ltd., was last trading in BSE at Rs. 62.3 as compared to the previous close of Rs. 61.85. The total number of shares traded during the day was 16750 in over 399 trades.

The stock hit an intraday high of Rs. 63.55 and intraday low of 61.7. The net turnover during the day was Rs. 1043189.

Source: Equity Bulls

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