THOMAS Cook India yesterday launched a multi-currency prepaid card in conjunction with MasterCard Worldwide, becoming India's first non-banking entity to launch such an initiative for foreign exchange transactions during overseas travel.
The Borderless Prepaid Card can store amounts in eight different currencies – British pounds, Swiss francs, Japanese yen, Euros, and American, Australian, Canadian and Singapore dollars – enabling cardholders to use the appropriate currency based on the country they are visiting.
The card is accepted at over 34.3 million merchant establishments, e-commerce websites and two million automated teller machines globally.
Features such as instant loading, emergency cash disbursement, free replacement in case of theft or loss, and 24-hour global emergency assistance are available in over 80 countries.
An embedded chip and PIN also ensures increased protection against counterfeiting and skimming card frauds.
Speaking at the launch, Madhavan Menon, managing director, Thomas Cook India, said: “Thomas Cook’s legacy of innovation as the global pioneer of packaged holidays, prepaid hotel vouchers, holiday brochures and travellers cheques continues with the launch of the Thomas Cook borderless prepaid foreign exchange card – India’s first multi-currency travel card in the non-banking space.”