Thomas Cook India sees strong growth in prepaid card business

Thomas Cook India sees strong growth in prepaid card business

Thomas Cook India has witnessed double-digit growth in its prepaid cards business, with one out of every two customers opting for a card.

As part of a move towards its goal of a “cashless ecosystem”, Thomas Cook India had launched two prepaid cards. The ‘One Currency Card’ offers a single load currency (US dollars) and zero cross currency conversion charges, while the multi-currency ‘Borderless Prepaid Card’ enables travellers to load eight currencies on a single card (US dollars, British pounds, euros, Australian dollars, Canadian dollars, Swiss francs, Singapore dollars and Japanese yen).

Thomas Cook India is moving towards a “cashless ecosystem”
Thomas Cook India is moving towards a “cashless ecosystem”

The company revealed that it has seen year-on-year growth of 30% for its Borderless Prepaid Card and more than 300% growth in for its One Currency Card in the first quarter of 2016.

Thomas Cook has also introduced ‘Travel Smart, Drive Easy’ campaign promoting the purchase of its prepaid cards or a ‘Send Money Abroad’ transaction.

“Our focus on innovation has empowered customers with path-breaking products and services like our pre-paid cards,” said Mahesh Iyer, Thomas Cook India’s chief operating officer. “Our internal data reveals that Indians are increasingly travelling smart, with high adoption of prepaid travel cards.

“The clear preference of plastic over cash, with both leisure and business travellers, is emphatic. Our ‘Travel Smart Drive Easy’ campaign thus intends to leverage the strong potential of our existing and potential customer base and inspire demand, being timed perfectly for the current peak travel season,” he added.

Mark Elliott
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Mark Elliott
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