Thomas Cook India’s strategic focus, drives a significant shift
to a Cashless Ecosystem
Mumbai, May 2, 2016: Thomas Cook (India) Ltd, India’s leading integrated travel and travel related financial services company, is witnessing significant growth of over 25% in its prepaid cards business, with one out of every 2 customers opting for a card. Thomas Cook India in its strategic endeavor to move towards a cashless ecosystem, had launched innovative first movers in the payment solutions space -the ‘One Currency Card’ and the multi-currency ‘Borderless Prepaid Card’ offering a 3 pronged benefit of value, convenience and security.
The Thomas Cook One Currency & Borderless Prepaid Card
* Cash withdrawal charges as applicable
While the Thomas Cook ‘One Currency Card’ offers a strong USP of a single load currency (USD) and zero cross currency conversion charges, across the world, The Thomas Cook Borderless Prepaid Card empowers 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 & Japanese Yen) enabling the cardholder to use the appropriate currency, basis the country being visited - effectively saving money and time. The Company has seen strong consumer uptake: with high double digit YOY growth of 30% for its Borderless Prepaid Card and over 300% growth in Q1 2016 for its One Currency Card.
In a focussed initiative to drive this shift, as also to leverage the peak travel season potential and inspire demand, Thomas Cook India has introduced its strategic "Travel Smart, Drive Easy" campaign – offering customers the opportunity to win a brand new Mahindra KUV 100 on the purchase of either the Thomas Cook One Currency or Borderless Prepaid Card or a Send Money Abroad transaction.
The offer is applicable on retail transactions (Thomas Cook travel prepaid cards or Send Money Abroad) of a minimum value of US$ 500 or equivalent, from May 2 - July 2, 2016. Additionally, lucky customers stand a chance to win an iPad Mini daily and an iPhone 6S weekly.
The two month long campaign incorporates a healthy mix of print, outdoor, radio & digital focus across – Mumbai, Delhi, Bangalore, Kolkata, Chennai, Pune & Hyderabad. The campaign is also being promoted aggressively via Twitter and Facebook contests and will see live updates on winners on its social media properties.
Mr. Mahesh Iyer, Chief Operating Officer, Thomas Cook (India) Ltd., said, “As market leaders, our focus on innovation has empowered customers with path-breaking products and services like our pre-paid cards. 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.”
About One Currency Card:
With its USP of a single load currency (USD) and zero cross currency conversion charges, across the world; The Thomas Cook One Currency Card include embedded chip and PIN security, locking of funds(to avoid cross currency fluctuations), instant loading, emergency cash disbursement, encashment of the residual balance or use for future travel, free replacement card in case stolen or lost and 24x7 global emergency assistance available via toll free access in over 80 countries global access via 2.2 million ATM’s and 35.2 million merchant establishments in over 275 countries
About Borderless Prepaid Card:
The Thomas Cook Borderless Prepaid Card empowers 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 & Japanese Yen) enabling the cardholder to use the appropriate currency, basis the country being visited - effectively saving money and time. Customer-centric features on the card include instant loading, emergency cash disbursement and free replacement card in case stolen or lost and 24x7 global emergency assistance available via toll free access in over 80 countries. The chip and pin security features of the card ensures additional safety for the traveller.
About Send Money Abroad:
Thomas Cook (India) Ltd, announced ‘Send Money Abroad’ services in January 2013 making it the first non-banking entity in the country to enable customers to transfer money globally to over 120 countries- directly to the beneficiary’s bank account seamlessly. With best in class prices, Thomas Cook’s Send Money Abroad services are hassle-free, quick and convenient offering comprehensive end-end services at lower rates and transparent charges.
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 (exclusive of its subsidiaries) currently extends to over 227 locations (including 20 airport counters) in 91 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 114 Gold Circle Partners and 112 Preferred Sales Agents in over 130 cities across India.
ICRA upgraded the long term rating of Thomas Cook (India) Limited’s non-convertible debenture programme to ‘ICRA AA/Stable’. CRISIL has assigned a long term rating of ‘CRISIL AA-/ stable‘ to the non-convertible debenture programme and long term banking facilities, and a short term rating of CRISIL A1+ to TCIL’s banking facilities. Further, ICRA has assigned a rating of ‘ICRA AA-/Stable’ to the company’s preference share programme.
Thomas Cook (India) Ltd has been voted as Favourite Outbound Tour Operator at the Outlook Traveller Awards 2015, Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2015, 2014 & 2013 and Best Company providing Foreign Exchange at the CNBC AWAAZ Travel Awards 2015 & 2014; felicitated with Diamond Award for Exemplary Achievements in Visa Issuance at the French Ambassador's Travel Awards Ceremony 2015; Thomas Cook India’s Travel Quest was honoured with a Gold Award at PATA Gold Awards 2015; honored as India's Leading Tour Operator 2014, World Travel Awards Asia & Australasia 2014, Favourite Tour Operator at the Condé Nast Traveller Readers' Travel Awards 2015 - 2011 ,recognized as a Consumer Superbrand 2013-14 & 2012-2013 and National Tourism Awards 2013-2014. Thomas Cook India’s Centre of Learning has received IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers”2015, 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 and its controlled affiliates. 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 financial services holding company based in Canada with a global presence in insurance and reinsurance, as well as joint ventures including ICICI Lombard (India). The Company, founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, has over the past 30 years, demonstrated a strong and consistent financial track record. For the year ended December 31, 2015, Fairfax increased book value per share at a compounded annual growth rate of 20.4% since its inception with a corresponding compounded annual increase in share price 19.4% and had over US $41 billion of assets.
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 69.55% of the Quess Corp Limited (formerly IKYA Human Capital Solutions Limited), a provider of integrated business services and 100% of Sterling Holiday Resorts Limited (formerly Thomas Cook Insurance Services (India) Limited) engaged in time share and resort business.
About Quess Corp Limited (formerly IKYA Human Capital Solutions Limited): Quess Corp Limited is one of India’s leading integrated business services providers operating in four broad segments: Global Technology Solutions, People and Services, Integrated Facility Management and Industrial Asset Management. Headquartered in Bengaluru, it has a pan-India presence with 43 offices across 24 cities, as well as operations in North America, the Middle East and South East Asia. As of November 30, 2015, it employed over 118,000 employees.For further details on Quess Corp Ltd. please visit: http://www.quesscorp.com
About Sterling Holiday Resorts Limited: Sterling Holiday Resorts 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. To achieve this vision, the company pioneered Vacation Ownership in India and set about building a network of leisure resorts at some of the best holiday destinations in India. Currently, Sterling Holidays has a total inventory of 1896 rooms spread across a network of 26 resorts in 23 scenic holiday destinations in India.
In pursuance of the Order of Hon’ble High Court, Bombay, dated 2nd July, 2015 sanctioning the Composite Scheme of Arrangement and Amalgamation between Sterling Holiday Resorts (India) Limited (SHRIL) and Thomas Cook Insurance Services (India) Limited (TCISIL) and Thomas Cook (India) Limited (TCIL) and their respective shareholders and creditors (Scheme), the time share and resort business division and undertaking of SHRIL was Demerged into TCISIL and the residual business of SHRIL was Amalgamated with TCIL.
Post implementation of composite scheme, Sterling Holiday Resorts Limited (formerly Thomas Cook Insurance Services (India) Limited) continued the time share and resort business.
The company also has 16 additional sites where it plans to add new resorts in the coming years. For more information visit: http://www.sterlingholidays.com
About SOTC Travel Services Pvt Ltd (formerly known as Kuoni Travel (India) Pvt. Ltd) & Kuoni Hong Kong: SOTC Travel Services Pvt Ltd (Formerly known as "Kuoni Travel (India) Pvt. Ltd.") is a step-down subsidiary of Fairfax Financial Holdings Group; held through two companies, its Indian listed subsidiary, Thomas Cook (India) Limited (TCIL) and TCIL's subsidiary Travel Corporation (India) Ltd. SOTC is a leading travel and tourism company active across various travel segments including Leisure Travel, Business Travel, Destination Management Services and Distribution Visa Marketing Services.
TCIL through its step down Subsidiary Horizon Travel Holdings (Hong Kong) Private Limited holds 100% stake in Kuoni Travel (China) Limited (Kuoni Hong Kong), which has an attractive business in the travel sector backed by a trusted brand name, and a stable and motivated professional management team. Kuoni Hong Kong is a premium outbound travel operator in Hong Kong.
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