Thomas Cook India leverages UAE growth opportunity Introduces UAE Dirham to its Borderless Prepaid Card
Posted on: 12/Jun/2018 6:42:51 PM
Thomas Cook (India) Ltd., India’s leading integrated travel and travel-related financial services company, has introduced the United Arab Emirates Dirham (AED) as a key currency to its multi-currency Borderless Prepaid Card, thereby offering customers the convenience and flexibility of loading 9 global currencies on a single card.
Based on strong demand and growing traffic from India to the United Arab Emirates (an approximately 14% YoY increase in 2017),Thomas Cook India’s inclusion of the Dirham to its multi-currency Borderless Prepaid Card portfolio, reiterates its strategic intent to harness this growth momentum. The new prepaid card will now create a seamless payment experience for its customer base of over 500,000, offering convenience, ease and security in spending while travelling across the UAE.
The multi-currency Borderless Prepaid Card’s features include:
• Global acceptance and access to 2 Mn ATMs, over 34 Mn merchant establishments and e-commerce websites
• Chip & pin security
• Comprehensive global support and free emergency cash disbursement &global card replacement
• Comprehensive fraud protection insurance
Speaking at the launch, Kailash Gupta, Senior Vice President & Head of Payment Solutions,Thomas Cook (India) Ltd., said, “The UAE is a top destination for Indian travellers; its convenience both as a short haul and stop-over holiday, coupled with extensive air access, new attractions (Dubai Parks & Resorts, Louvre Abu Dhabi, Warner Bros-Yas Island, La Perle, etc.) are proving to be strong growth drivers for repeat visits. Data reveals that Dubai witnessed a noteworthy 15% YoY increase in 2017 with 2.1 Mn. visitors; India retaining the top spot as its largest source market. In addition, India is equally a leading source market for Abu Dhabi with an 11.4% YoY increase in 2017. The introduction of the AED to our multi-currency Borderless Prepaid Card portfolio intends to capitalise on this growth momentum and offer our UAE bound travellers a simple, smooth and secure payment solution.”
He added that one of the pillars of today’s ‘new age of travel’ is the role of e-commerce platforms and services at each stage of the journey; before during and post travel.
“Today’s ‘new age of travel is increasingly defined by experiences that are genuinely personal and personalised, that have a deeper meaning or purpose, and which are facilitated at all stages via technology and the Internet. Our Borderless Prepaid Card perfectly reflects the latter pillar, providing a genuinely seamless and secure experience for travellers. Today, the service is trusted by over 500,000 customers across business and leisure segments, and experiencing year-on-year growth in excess of 20%.”
Mubarak Al Nuaimi, Director of Promotion and Overseas Offices Department atthe Department of Culture and Tourism – Abu Dhabi, said: “India is one of our largest overseas source markets having contributed over 2 million visitors from a total of around 5 million in 2017. As such, we continue to make relentless efforts to offer Indian visitors a hassle-free experience and entice them to visit the EmEmirate and enjoy its top attractions and unique culturally-enriching experiences. Aligned with this vision, we are very happy to work with Thomas Cook on including the Emirati Dirham as one of the key currency within their flagship Borderless Prepaid Card. This will effectively enable Indian visitors to maximise their vacation budget and switch between currencies without having to pay commission.”
“India has a massive potential to expand the tourism inflow to Abu Dhabi and we are aiming to increase the share of Indian tourists from the overall target number of 5.5 million visitors by the end of 2018.Moving forward, we will keep leveraging our network of partners and stakeholders as to cement the Emirate’s position as a destination of distinction for world-class tourism, family vacations, leisure and weddings,”he added.
About the Borderless Prepaid Card:The Thomas Cook Borderless prepaid card - India’s first multi-currency travel card issued by a non-banking entity- is a secure and convenient way to carry 9 global currencies in one card (US Dollar, Great British Pound, Euro, Canadian Dollar, Australian Dollar, Japanese Yen, Singapore Dollar, Swiss Franc and UAE Dirham), with benefits of Free Emergency Cash disbursement & Free Card Replacement, surcharge free ATM withdrawals in certain countries and insurance against fraudulent transactions; global acceptance & access to 2 million ATMs, over 34 million merchant establishments, e-commerce websites.Its security features include an embedded chip and PIN with financial control of an exchange rate guaranteed. Convenience of instant loading;;auto-check and sweep of currencies if the primary currency balance is low and Global Assistance: Toll Free Assistance in over 80 countries through a specialized Prepaid Card customer support cell.
About Thomas Cook (India) Limited: Thomas Cook (India) Ltd. (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.
The Thomas Cook India Group spanning 21 countries across 4 continents, a team of over 6,625 and a combined revenue in excess of Rs. 11,411.6 Cr.(over $ 1.75 Bn), operates leading B2C and B2B brands including, Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Travel Circle International Limited, Private Safaris East & South Africa. The Group is today one of the largest travel service provider networks headquartered in the Asia-Pacific region.
ICRA has placed the long-term rating of ‘ICRA AA’ assigned to the non-convertible debenture programme of TCIL on ‘rating watch with developing implications’. CRISIL has placed its rating of ‘CRISIL AA–’ on the long-term bank facilities of TCIL on ‘rating watch with developing implications’, while reaffirming its ‘CRISIL A1+’ rating on the short-term bank facilities and short-term debt of the Company.
Thomas Cook (India) Ltd has been felicitated with The Best Outbound Tour Operator and Leading Company with Cutting Edge Travel Innovation at the Times Travel Awards 2018, Excellence in Domestic Tour Operations at the SATTE Awards 2018, B Best Travel Entrepreneur of The Year at TTG Travel Awards 2017, The French Ambassador’s Diamond Award for Exemplary Achievements inVisa Insurance– 2015, 2016 & 2017 and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2016.
For more information, please visit www.thomascook.in
Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited and its controlled affiliates which holds 67.00%. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
