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19 June, 2018 09:46 IST
Thomas Cook introduces UAE Dhiram to borderless prepaid card
Source: IRIS | 12 Jun, 2018, 02.28PM
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Thomas Cook (India), India's leading integrated travel and travel-related financial services company, has introduced the United Arab Emirates Dirham (AED) as a key currency to its multi-currency Borderless Prepaid Card, thereby offering customers the convenience and flexibility of loading 9 global currencies on a single card.

Based on strong demand and growing traffic from India to the United Arab Emirates (an approximately 14% YoY increase in 2017), Thomas Cook (Q,N,C,F)* India’s inclusion of the Dirham to its multi-currency Borderless Prepaid Card portfolio, reiterates its strategic intent to harness this growth momentum. The new prepaid card will now create a seamless payment experience for its customer base of over 500,000, offering convenience, ease and security in spending while travelling across the UAE.

Kailash Gupta, Senior Vice President & Head of Payment Solutions, Thomas Cook (India), said, ''The UAE is a top destination for Indian travellers; its convenience both as a short haul and stopover holiday, coupled with extensive air access, new attractions (Dubai Parks & Resorts, Louvre Abu Dhabi, Warner Bros-Yas Island, La Perle, etc.) are proving to be strong growth drivers for repeat visits. Data reveals that Dubai witnessed a noteworthy 15% YoY increase in 2017 with 2.1 Mn. visitors; India retaining the top spot as its largest source market. In addition, India is equally a leading source market for Abu Dhabi with an 11.4% YoY increase in 2017. The introduction of the AED to our multi-currency Borderless Prepaid Card portfolio intends to capitalise on this growth momentum and offer our UAE bound travellers a simple, smooth and secure payment solution.''

He added that one of the pillars of today's 'new age of travel' is the role of e-commerce platforms and services at each stage of the journey; before during and post travel.

''Today's 'new age of travel is increasingly defined by experiences that are genuinely personal and personalised, that have a deeper meaning or purpose, and which are facilitated at all stages via technology and the Internet. Our Borderless Prepaid Card perfectly reflects the latter pillar, providing a genuinely seamless and secure experience for travellers. Today, the service is trusted by over 500,000 customers across business and leisure segments, and experiencing year-on-year growth in excess of 20%.''

Shares of the company gained Rs 9.55, or 3.56%, to trade at Rs 278.00. The total volume of shares traded was 41,930 at the BSE (2.16 p.m., Tuesday).



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