Thomas Cook India launches pre-paid travel card
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Thomas Cook India has launched a new pre-paid travel card in partnership with MasterCard.
The new Thomas Cook One Currency Card is based on a single currency (US dollars) and offers Indian travellers zero cross currency conversion fees no matter what country they visit.
Thomas Cook India said that its internal customer research found that “value conscious Indian travellers” were commonly deterred from using pre-paid currency cards due to the high conversion charges (typically around 3-4%).
Other benefits of the new card include embedded chip and PIN security, locking of funds (to avoid cross currency fluctuations), instant loading, emergency cash disbursement, free card replacement in case of loss of theft, and 24-7 global assistance. Users can also cash in the residual balance of the card after their trip, or retain it for future travel.
The card can be used in 2.2 million ATMs and with more than 35 million merchants worldwide.
“With exponential growth in multinational travel, the need of the hour was clearly a single currency card, sans the downside of cross currency charges,” said Mahesh Iyer, Thomas Cook India’s chief operating officer for foreign exchange & head of visas.
“As pioneers in the foreign exchange business, our innovative the Thomas Cook One Currency Card, the first of its kind in India, brings Indian travellers a strong value proposition: zero currency conversion charges in a digital currency ecosystem. We are delighted with our partnership with MasterCard, and this drives significant advantages in ensuring a comprehensive solution to our customers.”
Porush Singh, MasterCard’s divisional president for South Asia, commented; “MasterCard and Thomas Cook India… have had a strong relationship over the past few years in providing products to make travel easier and more convenient, via our focus on innovation excellence and technology. The Thomas Cook One Currency Card is an innovative solution and we are confident of it becoming the preferred prepaid travel card for overseas travellers in the near future,” said
The Thomas Cook One Currency Card can be bought or recharged via thomascook.in, and across Thomas Cook’s 136 foreign exchange counters.
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