Thomas Cook (India) Limited filed a regulatory disclosure under SEBI Regulation 30 regarding the launch of a new financial product. The company introduced its "Zero Markup Forex Card" by relaunching the One Currency Card with specific features targeting frequent international travelers.
Product Features
The Zero Markup Card offers:
- Zero Forex Markup on card loading: Eliminates additional forex mark-up charges at time of purchasing or loading foreign exchange
- Zero Cross-Currency Conversion Charges: Enables payments in currencies beyond USD without additional conversion costs
- Protection against currency volatility: Allows pre-loading in USD to lock in exchange rates before travel, protecting against INR and major global currency fluctuations
Distribution Channels
The card is available exclusively through Thomas Cook India's digital platforms:
- Website (thomascook.in)
- Mobile app (TC Pay)
- Call centre
- Blinkit
Additional Benefits
The card provides several travel-friendly features:
- 10% cashback on spends at popular brands including McDonald's, Starbucks, KFC, Grab, Uber, 7 Eleven, and Careems
- Secure contactless payments through Google Pay's Tap & Pay
- Complimentary insurance cover of up to ₹7,50,000
- Free emergency cash assistance
- Zero-cost card replacement if lost or stolen during travel
- Global acceptance across 200+ countries and territories where Mastercard is accepted
Executive Commentary
Mr. Deepesh Varma, Chief Business Officer – Foreign Exchange, stated that the card addresses specific needs of value-conscious, digitally savvy travelers by combining zero markup features with exchange rate protection. He emphasized the product's relevance in today's volatile currency environment and positioned it as reinforcing Thomas Cook's position as "India ka Forex Specialist."
Corporate Background
The disclosure includes extensive information about Thomas Cook India's operations as India's leading omnichannel travel company offering 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 (DEI), Go Vacation, and Private Safaris East & South Africa.
The company spans 28 countries across 5 continents and maintains a CRISIL rating of 'CRISIL AA/Stable' on long-term bank facilities and 'CRISIL A1+' on short-term facilities. Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited, is the promoter with 63.83% shareholding.