August 29, 2017 TnH Global

Thomas Cook India partners with Euronet Worldwide

Thomas Cook India has partnered with Euronet Worldwide to create the Next Generation of Prepaid Travel Cards.

Thomas Cook (India) Ltd, India’s leading integrated travel and travel related financial services company has announced a strategic partnership with Euronet Worldwide, Inc. to introduce significant additional benefits on its unique prepaid travel cards – The Thomas Cook Borderless Prepaid multi-currency and One Currency card in India. This move brings together leaders in their respective segments to create a product that is unique and revolutionary, with comprehensive benefits to customers.

India’s protagonist traveller of today is evolving rapidly and looks for convenient and safe modes of payment to ensure a seamless international travel experience. The Thomas Cook India-Euronet partnership hence aims to create the next generation of prepaid travel cards which are customized to cater to the enhanced requirements of travellers. The new platform enables cutting-edge functionalities and the system has been designed to provide customers a user-friendly experience and a functionally rich product.

Euronet becomes the exclusive technology partner for Thomas Cook India`s unique prepaid travel card programmes: Borderless Prepaid and One Currency. The Borderless Prepaid multi-currency card is a secure and convenient way to carry 8 global currencies in one card (US Dollar, Great British Pound, Euro, Canadian Dollar, Australian Dollar, Japanese Yen, Singapore Dollar, Swiss Franc), with benefits of emergency cash, surcharge free ATM withdrawals in certain countries and insurance against fraudulent transactions. The Thomas Cook One Currency Card is USD loaded and guarantees a zero cross currency conversion fee across the globe.Thomas Cook’s prepaid travel cards can be used across merchant outlets, online portals & ATMs globally.

All cards issued by Thomas Cook India will be hosted and managed on Euronet`s world class payments processing and card issuing platform. This platform is a comprehensive system which not only offers the routine features of a prepaid card system, but is highly configurable to help Thomas Cook roll out customized options to meet specific customer needs – across business, leisure, b-leisure, student, etc.

The introduction of this card comes at a time when India is being swept by a wave of digitalization and a cashless ecosystem. Mahesh Iyer, Chief Executive Officer, Thomas Cook (India) Ltd., said, “Innovation has always been one of our key drivers. With the world moving rapidly into the digital era, the smart tech-savvy protagonist traveller of today has spurred the demand for cashless transactions that offer value and convenience. We have hence partnered with Euronet, the leaders in the electronic payment space to bring a groundbreaking product that offers maximum benefit to customers.”

He elaborated, “A comprehensive evaluation of various technology platforms revealed that Euronet with its unique propositions was best suited to meet our requirements and offer a highly secure, swift and scalable platform. The advantages to our consumers are considerable and the option of customization is a significant differentiator that we intend to leverage to enhance our customer experience.”

“Thomas Cook is one of the largest players in the multicurrency travel cards market, which is the fastest growing category within the prepaid card segment,” said Himanshu Pujara, Regional Managing Director of Euronet Worldwide, India and South Asia. “Euronet has a deep understanding of this space, which comes from more than 20 years of payments processing experience and a leading global money remittance business. Euronet is happy to partner with Thomas Cook in India on this program and help them roll out new variants and categories and gain additional market share.”