Thomas Cook (India) Limited filed a disclosure under SEBI Listing Regulations Regulation 30 regarding a partnership announcement with Atlys, a visa processing platform.

The company announced an exclusive long-term partnership with Atlys, one of India's leading visa processing platforms, to integrate Thomas Cook India's foreign exchange solutions into the visa application journey on Atlys' platform. The partnership aims to serve travellers across leisure and student travel segments.

Partnership Details

The collaboration brings together visa processing and foreign exchange services into a single, unified journey. Customers applying for international visas will now be able to opt for forex services and connect with Thomas Cook India to avail:

  • Visa backed Forex Card
  • Foreign currency notes

The service will be supported by Thomas Cook India's digital and assisted onboarding, video KYC, and secure doorstep delivery across India.

Product Offerings

Thomas Cook's products that will be offered through this partnership include:

  • Prepaid Travel Cards with 28 global currencies:
  • Borderless Travel prepaid multi-currency card (for Holidays)
  • Study Buddy card (for Overseas Education)
  • One Currency Card: India's first prepaid card with zero cross currency conversion fee
  • Currency notes for high demand travel destinations
  • Overseas Remittances through 'Send Money Abroad' service covering over 120 countries

Executive Commentary

Mr. Deepesh Varma, Chief Business Officer – Foreign Exchange, Thomas Cook (India) Limited stated that the partnership aligns with their customer-first approach and will cater to digitally savvy, young travellers through their digital capabilities including the Thomas Cook website, TC Pay app (available on Android and Apple), and 24x7 WhatsApp assistance.

Mr. Mohak Nahta, Founder and CEO, Atlys mentioned that forex is a critical aspect of international travel that requires careful planning, and Thomas Cook India has long been a trusted name for travellers.

Mr. Rishi Chhabra, Country Manager, Visa, India commented that Visa network-enabled Forex Cards offer travellers a secure, convenient and widely accepted way to pay while abroad.

Mr. Anil Kapur, Founder, InTandem disclosed that the collaboration was facilitated by InTandem, which played a key strategic role in identifying the partnership opportunity, aligning stakeholders, and enabling the relationship through its strategic engagement with Visa and Thomas Cook India.

Company Background

Thomas Cook (India) Limited is India's leading omnichannel travel company offering services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services, and Visa Services. The company operates multiple brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied TPro, Australian Tours Management, Desert Adventures, Travel Circle International Limited, Sterling Holiday Resorts Limited, Distant Frontiers, TC Tours, Digiphoto Entertainment Imaging, Go Vacation, and Private Safaris East & South Africa.

The Thomas Cook India Group spans 28 countries across 5 continents. Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited, is the promoter of TCIL with a shareholding of 63.83% of its paid-up capital.

CRISIL has reaffirmed the rating on debt programs and bank facilities of TCIL - 'CRISIL AA/Stable' on the long-term bank facilities and 'CRISIL A1+' rating on the short-term bank facilities and short-term debt of the company.