Thomas Cook (India) Limited has become the first forex card provider in India to introduce contactless cross-border payments, thanks to a new collaboration with Google Pay and Visa. This strategic move allows Thomas Cook’s forex cardholders to make seamless tap & pay transactions at retail outlets and online globally by simply linking their prepaid cards Borderless Travel, One Currency, Study Buddy, and EnterpriseFX to Google Pay wallets.
The partnership leverages Google Pay’s advanced tokenization technology, offering an extra layer of security to users and eliminating the risks associated with carrying physical cards. This initiative caters to India’s rapidly evolving digital ecosystem, particularly among millennials and GenZ, where the preference for digital, secure, and hassle-free payment solutions is at an all-time high. In October 2024, UPI transactions reached a record 16.58 billion, amounting to INR 23.49 lakh crore a significant 45% increase year-over-year, reflecting India’s robust appetite for digital payments.
Thomas Cook reports that digital platforms contribute over 20% of their forex business, demonstrating the rising demand for tech-forward financial solutions. With this partnership, Indian travelers gain the benefit of making secure, swift cross-border payments for accommodation, transportation, dining, and retail in 95 countries, without the need for physical cards or concerns about replacement and emergency cash.
Deepesh Varma, Executive Vice President – Foreign Exchange at Thomas Cook India, highlighted, “Our partnership with Google Pay & Visa is tailor-made for Global Indians. By adding their Thomas Cook forex cards to their Google Pay wallet, they can now seamlessly and securely transact contactless across the globe, enjoying unmatched convenience and enhanced security through Google Pay’s tokenization standards.”
Rishi Chhabra, Country Manager, India Visa, added, “We are thrilled to introduce Visa’s contactless payment technology on Thomas Cook Forex Cards, empowering customers with secure, ultra-fast, mobile tap & pay experiences. As overseas travel rises, especially among millennials and Gen Z, this partnership delivers on the evolving needs of today’s global travelers.”
This landmark launch not only positions Thomas Cook as a leader in the Indian forex industry but also marks a significant milestone in accelerating India’s transition to digital-first, secure, and globally accepted payment systems.
