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Thomas Cook (India) Limited’s shares were up by 5 per cent after the company reported a partnership with the National Payments Corporation of India (NPCI) to introduce a RuPay prepaid forex card tailored for Indian travellers going to the UAE.
The launch of the Thomas Cook RuPay card began in the UAE, tapping into growth in outbound travel from India, particularly to short-haul destinations. Visitor numbers to Dubai from India have exceeded pre-pandemic levels (2019) with a 23 per cent growth recorded for Jan-Jun 2023. The company has observed an increase in per-person spending for UAE, up by over 30 per cent in 2022 compared to pre-pandemic levels.
The company’s omnichannel approach ensures accessibility for customers, being India’s forex network with over 4000 touchpoints, including retail outlets, airport counters, online platforms, and mobile applications. The “Ghar pe Forex” commitment reportedly provides doorstep delivery within 2 hours.
This collaboration, facilitated by NPCI Certified Partner CARD91, uses NPCI’s global card payment network and aligns with India’s “Made in India” initiative to provide international payment solutions for Indian travelers abroad.
The shares were up by 5 per cent to Rs. 119.75 at 10.30 a.m. on the BSE.
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