 "Thomas Cook to raise Rs 125 crore for Kuoni purchase")
Travel solutions provider Thomas Cook India has inked a pact with Western Union Business Solutions and DCB Bank to facilitate international trade payments by small-and medium-sized enterprises.
"This alliance is a pioneering move by Thomas Cook India, to penetrate the high-growth Indian SME segment for its international trade payment requirements," Thomas Cook (India) COO Mahesh Iyer said.
Western Union Business Solutions is a business segment of the Western Union Company.
"Thomas Cook India would reach out to its set of SME base and the larger market to essentially refer trade remittance transactions to DCB Bank through the Western Union technology platform," Thomas Cook India said.
Thomas Cook India aims to assist small-and medium-sized enterprises (SMEs) in India with their trade payments across borders, the company said.
"We are delighted to be collaborating with Thomas Cook India to support tens of thousands of SMEs in India," Western Union Business Solutions President Kerry Agiasotis said.
Highlighting the potential of the agreement, DCB Bank Retail and SME Banking Head Praveen Kutty said, "The business alliance with DCB Bank, Thomas Cook (India) and Western Union Business Solutions has the vision to empower MSMEs and SMEs by providing smooth and convenient trade remittance facility.
