Thomas Cook (India) Limited’s shares were up by 2.26 per cent after the company launched TCPay, it is a service aimed at simplifying international money transfers. The company said sending money abroad involved visiting branches, cumbersome paperwork, and limited operating hours. TCPay aims to change this by offering a digital interface that allows for paperless transactions. The service is further enhanced by Thomas Cook’s recently launched Video KYC process, which enables customers to transfer funds conveniently from their homes. 

Thomas Cook reported that TCPay offers advantages, including 24x7 access, transfers, and a digital interface accessible through Thomas Cook’s digital tools such as FXNOW (B2C app), Portal, and Call Center for assistance. The Video KYC process is made to ensure convenient, safe, and quick transactions for customers. 

Deepesh Varma, Executive Vice President, Thomas Cook (India) Limited, said, “Our data indicates a significant growth in our outward transfers business. Hence reinforcing the Company’s digital-first approach and our intent to maximize our market share in this high potential segment, we have introduced our latest digital solution - TCPay. The TCPay commitment will ensure smooth and seamless outward remittances for individuals and businesses, as well as facilitate digitization of the remittance process combined with our additional digital services like Video KYC verification option. This launch is not merely a service, but a testament to the Thomas Cook India Group’s unwavering focus on creating digital-first innovation and customer-centricity.” 

The shares were up 2.26 per cent to ₹203.35 at 11.37 on the BSE.