Thomas Cook (India) Ltd launched a ‘Borderless Prepaid Card’ in collaboration with MasterCard Worldwide, a global payments and technology company. It is the first non-banking entity in India to launch a prepaid foreign exchange travel card.
Madhavan Menon, Managing Director, Thomas Cook (India) Ltd says, “We are confident that the Borderless card will take customer convenience, ease of use and security for Indian travelers abroad, to the next level.”
This card will give travelers an option of loading eight currencies on a single card - US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars and Japanese Yen.
The card will have an embedded chip and PIN that will ensure security and protection against counterfeiting and skimming card frauds. One can load emergency cash and get free replacement card in case his card is stolen or lost. The card will be accepted at 2 million ATMs, 34.3 million merchant establishments and e-commerce websites too.
A recent survey conducted by MasterCard and Euromonitor says, there are about 22 million outbound trips forecasted by 2015, resulting in a 12% compound annual growth rate.