ETW Staff– Mumbai
Thomas Cook (India), an integrated travel and travel related financial services company, has announced its strategic partnership with Allpoint Network through its borderless prepaid card, offering Indian travellers access to over 43,000 surcharge-free ATMs in the US and about 55,000, worldwide.
Thomas Cook India’s internal customer research had revealed that Indian travellers are increasingly opting for the safety-convenience of ‘cashless travel’ and that high transaction costs were seen as a deterrent (typically customers in the US pay anywhere between US$ two to five per transaction as an ATM surcharge for accessing ATMs in premium locations). Hence, to leverage the growing potential of the prepaid card market, Thomas Cook India has partnered with Allpoint Network, to offer users of its multi-currency borderless prepaid card impactful value via surcharge-free access to the Allpoint network across USA, Canada, Mexico, UK and Australia.
Mahesh Iyer, chief operating officer – foreign exchange, Thomas Cook (India), said, “At Thomas Cook India, we believe in making travel a truly memorable experience for our customers. Our alliance with Allpoint- America’s largest surcharge-free ATM Network- ensures that customers can use Thomas Cook India’s borderless prepaid card without any surcharge at ATMs across Allpoint Network locations, thus resulting in substantial savings for Indian travellers. Our partnership with Allpoint, is a reiteration of the Thomas Cook legacy as innovators and pioneers in the travel and payment solutions domain.”
Bill Knoll, executive vice president, financial institutions products group, Cardtronics and owner of Allpoint Network, said, “We are delighted to partner with Thomas Cook (India), India’s biggest foreign exchange services provider. One out of 12 ATMs in the US is an Allpoint Network ATM, offering convenience to travellers across the country. We also have a strong presence with 55,000 surcharge-free ATMs in convenient retailer locations, coast-to-coast in the US and beyond, where travellers can use their borderless prepaid cards seamlessly.”
