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Thomas Cook India partners with Allpoint Network
To provide Indian travellers access to the largest surcharge-free ATM network in the US
Mumbai, Sept 2, 2014: Thomas Cook (India) Ltd., India‘s leading integrated travel and travel related financial services company, announces its strategic partnership with Allpoint Network through its Borderless Prepaid Card, offering Indian travellers unique access to over 43,000 surcharge-free ATMs in the U.S. and about 55,000, worldwide.
Thomas Cook India‘s internal customer research had revealed that Indian travellers are increasingly opting for the safety-convenience of ―cashless travel‖ and that high transaction costs were seen as a deterrent (typically customers in the US pay anywhere between US$ 2-5 per transaction as an ATM surcharge for accessing ATMs in premium locations). Hence, in a focused initiative to leverage the growing potential of the prepaid card market, Thomas Cook India has partnered with Allpoint Network (an affiliate of Cardtronics, Inc), to offer users of its multicurrency Borderless Prepaid Card impactful value via surcharge-free access to the Allpoint network of over 55,000 ATMs across USA, Canada, Mexico, UK and Australia.
Thomas Cook India now becomes the first card issuer in India to offer its cardholders surcharge-free ATM access when travelling overseas via the Allpoint ATM Network. Thomas Cook India‘s partnership with America's largest surcharge-free ATM network will benefit consumers travelling not just to USA, but also UK, Canada, Mexico and Australia and is a strong reiteration of its value proposition of cashless travel across borders.
Commenting on the partnership, Mr. Mahesh Iyer, Chief Operating Officer - Foreign Exchange, Thomas Cook (India) Ltd. said, “At Thomas Cook India, we believe in making travel a truly memorable experience for our customers. Our alliance with Allpoint- America’s largest surcharge-free ATM Network- ensures that customers can use Thomas Cook India’s Borderless Prepaid Card without any surcharge at ATMs across Allpoint Network locations, thus resulting in substantial savings for Indian travellers. Our partnership with Allpoint, is a reiteration of the Thomas Cook legacy as innovators & pioneers in the travel and payment solutions domain.”
Bill Knoll, Executive Vice President, Financial Institutions Products Group, for Cardtronics, owner of the Allpoint Network said, “We are delighted to partner with Thomas Cook India, India’s biggest Foreign Exchange services provider. One out of 12 ATMs in the US is an Allpoint Network ATM, offering convenience to travellers across the country. We also have a strong presence with 55,000 surcharge-free ATMs in convenient retailer locations, coast-to-coast in the US and beyond, where travellers can use their Borderless Prepaid Cards seamlessly.”
Allpoint Network is the largest surcharge-free ATM network with more than 55,000 ATMs in leading national and regional merchant locations across the United States, Canada, Mexico, United Kingdom and Australia. Allpoint provides greater access, convenience and savings to customers of financial institutions while providing institutions the tools to compete more effectively for customers. For more information or to find the nearest Allpoint surcharge-free ATM, please visit www.AllpointNetwork.com. Allpoint Network is an affiliate of Cardtronics, Inc.
About Borderless Prepaid Card: Borderless Prepaid Card is a multi-currency card enabling travellers with the option of loading eight currencies on a single card—US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars and Japanese Yen with a validity of five years, within which the cardholder can get the visiting country‘s currency loaded on the card. An embedded chip and PIN ensures security and increased protection against counterfeiting and skimming card frauds. Borderless Prepaid Card is accepted over 34.3 million merchant establishments, e-commerce websites and access to 2 million ATMs. For further details, please visit http://www.thomascook.in/tcportal/Foreign-Exchange/Buy-Prepaid-Cards
About Thomas Cook (India) Limited:
Thomas Cook (India) Ltd (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.
TCIL‘s footprint currently extends to over 233 locations (including 18 airport counters) in 98 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 111 Gold Circle Partners and 165 Preferred Sales Agents in over 136 cities across India.
ICRA has reaffirmed long term rating of ‗ICRA AA-/ Stable‘ assigned to Thomas Cook (India) Ltd‘s non convertible debenture programme.
CRISIL has reaffirmed long term rating of CRISIL AA-/ stable outlook to the non convertible debenture programme and banking facilities and short term rating of CRISIL A1+ to TCIL‘s banking facilities.
Thomas Cook (India) Ltd has been voted Best Tour Operator at the Lonely Planet Travel Awards 2013, Favourite Specialist Tour Operator at the Condé Nast Traveller Readers' Travel Awards 2013 & 2012 and Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2013. In addition, TCIL has been chosen as the Best Corporate Travel Management Company by World Travel Brands 2012, and recognized as a ―Consumer Superbrand‖ 2012-2013. At the National Tourism Awards 2012-2013, TCIL was the recipient of 3 prestigious awards. Thomas Cook India‘s Centre of Learning has received IATA accreditation as ―Top 10 South Asia IATA Authorized Training Centers‖, 2013 & 2012.
For more information, please visit www.thomascook.in
Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
About Fairfax Financial Holdings Limited:
Fairfax Financial Holdings Limited is a Toronto-based financial services holding company with a global presence in insurance and reinsurance and a portfolio of assets in excess of $38 billion invested worldwide. The Company, founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, has over the past 25 years, demonstrated a strong financial track record to achieve an annual appreciation in Book Value per Share of 24.7% annually.
Fairfax has almost 20 general insurance subsidiaries and joint ventures globally, including ICICI Lombard (India).
Fairfax is engaged in long term investments from its own resources, with a focus to delivering long term capital appreciation through a flexible and value oriented approach.
Fairfax Financial Holdings through Thomas Cook (India) Ltd. owns 74.85% on a fully diluted basis of the IKYA Group, a provider of specialised Human Resource related Services and 41.90% of Sterling Holiday Resorts (India) Ltd, engaged in time share and resort business and holiday activities.
About IKYA Group
The IKYA Group, established in 2007, has over the last 6 years, evolved into a diversified provider of Business Services with interests in Human Resources (Recruitment & General Staffing), IT Staffing & Services, Facilities Management, Food & Hospitality services and Training & Skill Development through a combination of organic and inorganic methods. The Group operates out of 33 offices across 22 cities and employs 80,000 personnel.
About Sterling Holiday Resorts (India) Limited:
Sterling Holiday Resorts (India) Limited, a pioneer in vacation ownership and a leading leisure hospitality company in India, was incorporated in 1986 with the vision of delivering great holiday experiences to Indian families. Sterling Holidays‘ network includes 1512 rooms across 19 resorts in 16 scenic holiday destinations pan India. The company also has 15 additional sites where it plans to add new resorts in the coming yearsFor more information visit: www.sterlingholidays.com
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