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Thomas Cook India Inks Long Term Agreement to Set Up Forex Outlets at Goa Airport

Travellers can then access their INR wallet to ensure smooth and secure digital payments across millions of merchant establishments equipped with the UPI QR facility pan India.

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Thomas Cook (India) Limited, India’s leading omnichannel travel services company, inaugurated new Forex outlets at the new Manohar International Airport – at Mopa, Goa. The Company has won a 5 year contract for setting up and operating 4 foreign exchange counters at the new Goa Airport. This expands Thomas Cook India’s forex network/consumer access in Goa to 6 outlets: 2 branches and 4 airport outlets. In addition, the company operates 25 airport counters across India, Sri Lanka and Mauritius.

In an initiative to ensure safe, seamless and convenient merchant payments, Thomas Cook’s Goa airport counters will empower foreign nationals from G20 nations and NRIs, with UPI enabled Indian Rupee transactions on arrival. Travellers can then access their INR wallet to ensure smooth and secure digital payments across millions of merchant establishments equipped with the UPI QR facility pan India. The prepaid payment product is issued by Pine Labs under the PPI authorisation obtained from RBI.

Goa is a key and significant growth market for tourism – for both inbound and outbound, in addition to the domestic market. With strong pent-up demand and easing of restrictions driving positive consumer sentiment, consumers are displaying high travel desire. The new Mopa Airport is expected to serve approx. 4.3 Mn passengers in the first year with an increase to approx. 13.1 Mn passengers within 5 years. The new forex counters at the airport offers Thomas Cook significant opportunity to capitalize on the foreign exchange requirements of both inbound and outbound travellers.

Thomas Cook’s new airport counters have been designed around the concepts of “Ethnicity – Luxury – Comfort”, creating a refreshing and vibrant appeal. The outlets prioritise passenger comfort with an open layout concept and high/low counters. An important factor is the focus on Indian elements, deployment of Indian art forms, motifs and gold arches. In keeping with the Company’s focus on protecting the environment, what is noteworthy is the use of sustainable material.

Thomas Cook India has positioned itself as India ka Forex Specialist with continued focus on the foreign exchange segment and sustained leadership in the space. The Company is the largest non-bank foreign exchange services provider in India and serves over a million customers every year.

Mr. Deepesh Varma, Executive Vice-President – Foreign Exchange, Thomas Cook (India) Limited said, “Goa is a strong high growth market for us at Thomas Cook India. With the new Manohar International Airport at Mopa (Goa), and its anticipated passenger loads of approx. 13.1 Mn in 5 years, we foresee a significant forex requirement in the region. We are hence delighted to announce Thomas Cook’s successful bid for a 5 year contract at Goa’s Mopa airport. Our four new foreign exchange counters will ensure smooth and secure customer transactions at this prime gateway airport.

Forex is a key business line for the Company and our strong focus has ensured our leadership – as India’s largest non-bank Foreign Exchange service provider. This contract will further strengthen Thomas Cook India’s presence in this growing forex market with presence at Goa’s new airport.”

Thomas Cook’s Forex business leveraged India’s rapidly growing digital ecosystem to accelerate its digital transformation.

The company’s unique omnichannel model empowers customers with choice and convenience: simple, secure and quick bookings via its online forex store; the FXMATE digital tool supports over 1500 B2B partners with virtual Foreign Exchange services; also support through its call centre or by walking in to their closest forex outlet to transact with an in-store expert. Thomas Cook India’s FxNOW ushers in a digitized foreign exchange model that ensures seamless and contactless forex services. The Company also takes care of the customers’ Forex requirements via a convenient process to ensure an unparalleled customer commitment in the form of Gharpe Forex – doorstep delivery in 2 hours!


SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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