India’s outbound travel is expanding at an unprecedented rate, especially to short-haul destinations like the United Arab Emirates, where pre-pandemic levels (2019) were eclipsed by tourists from India in 2023 thanks to a 23% increase. Looking at this surge as an opportunity, Thomas Cook will be launching the RuPay forex card. What is this card? What are its benefits?
Thomas Cook To Launch RuPay Forex Card
Thomas Cook (India) Limited, India’s top omnichannel forex services provider, has teamed up with NPCI (National Payments Corporation of India) to introduce a ground-breaking RuPay forex card for Indians traveling to the United Arab Emirates in order to take advantage of this significant and expanding market.
The Thomas Cook and RuPay collaboration uses the Indian NPCI global card payment network. For Indians traveling abroad, this innovative project provides worldwide payment options in line with the nation’s Made in India focus.
The Thomas Cook and RuPay FX card cooperation launches with the UAE as its trial, with a global rollout planned using a phased methodology in light of the destination’s growth potential. In phase one, Thomas Cook’s RuPay prepaid card will have AED (UAE Dirhams) loaded onto it, providing extensive usage across the UAE for purchases and ATM withdrawals.
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Miles, Replacement And Others
- Travel vouchers from Thomas Cook valued at ₹13,900.00
- Lounge access in Indian international airports
- Free ATM withdrawal (in the UAE)
- Free replacement in the event of card loss
- Free insurance coverage of up to ₹7,50,000.00
- 50% off exclusive photo opportunities at Dubai’s best sights, courtesy of Digiphoto Entertainment Imaging (DEI).
- KrisFlyer miles on each FX transaction
Thomas Cook (India) Limited’s Managing Director and Chief Executive Officer, Mr. Mahesh Iyer, expressed confidence in the company’s currency card business. They are excited to work with NPCI to introduce our innovative RuPay forex card. The UAE will serve as the launch location for this innovative Made in India program, with a phased global deployment to follow.
Internal data from Thomas Cook’s foreign exchange company shows a considerable increase of over 2x (2022 vs. 2019) and a projection of 3x growth by the end of the year. Spending per person in the UAE has significantly increased since before the pandemic, rising by almost 30% in 2022.
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Cover Image Courtesy: Press release