 "MakeMyTrip launches multi-currency payment options to boost inbound tourism")
Online travel company MakeMyTrip has unveiled a new multi-currency payment feature to enhance the experience of its global travellers. This comes shortly after the company announced its General Data Protection Regulation (GDPR) compliance, allowing accessibility to its platform in over 150 countries, according to a press statement from the company.
The multi-currency feature enables users to pay for flights and hotel bookings in major global currencies, including the US dollar, Euro, British pound, and more. The payment feature is expected to connect international travellers to MakeMyTrip’s accommodation network spanning over 2,100 Indian cities, streamlining travel plans for both the Indian diaspora and global tourists.
Rajesh Magow, co-founder and group CEO of MakeMyTrip, said, “This feature simplifies payments in the currency of their choice for the Indian diaspora spread across the globe, as well as our international customers.”
The initiative aimed not only to simplify transactions but also ensure that travellers receive refunds and vouchers in the same currency they used for payments, eliminating potential conversion hassles.
By integrating this feature, MakeMyTrip aims to attract a larger share of international travellers. With tourism recovering post-pandemic, this move could significantly contribute to India’s inbound tourism growth, the company mentioned in its statement.
According to global data and business intelligence platform Statista, MakeMyTrip Ltd reported revenue of approximately $782 million in India in FY24. The majority of this revenue was generated from hotels and packages. This performance marked a strong recovery following the challenges faced during the Covid-19 pandemic years.
Earlier this month, the travel company signed a business transfer agreement to acquire Happay’s expense management platform from CRED for an undisclosed amount. CRED is a members-only app that allows users to make payments and manage credit cards. The acquisition of Happay would help MakeMyTrip to expand its corporate travel segment and expense management solutions.