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Thomas Cook India eyes the significant, high growth Outward Remittances segment

Posted On: 2024-05-11 22:17:53 (Time Zone: IST)

With industry data reflecting a robust 25% year-on-year growth for the last 2 years, India's outbound remittances market represents a significant opportunity. Data from Thomas Cook (India) Limited - India's leading omnichannel forex services company, also reiterates the strong growth momentum in its outbound remittances business. Hence, with a focussed intent to maximise on this potential, Thomas Cook (India) Limited, has announced the launch of TCPay, a new digital service that brings ease and efficiency to international money transfers.

Traditionally, sending money abroad was considered an arduous process, that involved visits to branches, cumbersome paperwork and limited operating hours. Recognising the challenges, Thomas Cook has introduced TCPay that offers multiple benefits to transform the way individuals transfer funds. The simple digital platform coupled with Thomas Cook's recently launched Video KYC process, empowers customers with paperless transfers from the comfort and convenience of their home.

The TCPay Advantage:

- Convenience of 24X7 access
- Paperless transfers
- Simple & Seamless digital interface, across Thomas Cook's Digital Tools: FXNOW (B2C app), Portal; Call Center for assistance
- Video KYC - seamless digital process for convenient, safe and quick transactions

To promote the launch, the company has conceptualised an engaging video that highlights the convenience and ease-of-use of TCPay.

Link to film:

Deepesh Varma, Executive Vice President, Thomas Cook (India) Limited, said, "Our data indicates a significant growth in our outward transfers business. Hence reinforcing the Company's digital-first approach and our intent to maximise our market share in this high potential segment, we have introduced our latest digital solution - TCPay.

The TCPay commitment will ensure smooth and seamless outward remittances for individuals and businesses, as well as facilitate digitization of the remittance process combined our additional digital services like Video KYC verification option. This launch is not merely a service, but a testament to the Thomas Cook India Group's unwavering focus on creating digital-first innovation and customer-centricity."

Shares of Thomas Cook (India) Limited was last trading in BSE at Rs. 208.80 as compared to the previous close of Rs. 203.35. The total number of shares traded during the day was 51168 in over 1254 trades.

The stock hit an intraday high of Rs. 212.60 and intraday low of 200.65. The net turnover during the day was Rs. 10719869.00.

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