Thomas Cook India Opens Forex Outlet in Varanasi
Filing Summary
Thomas Cook (India) Limited has expanded its foreign exchange distribution network by inaugurating its first outlet in Varanasi, increasing its presence to five outlets in Uttar Pradesh. The new outlet is strategically located to serve local customers and tourists, offering services such as currency exchange, prepaid travel cards, and overseas remittances. This expansion aligns with the company’s strategy to enhance accessibility in emerging markets. Thomas Cook India serves over 1 million customers annually through its omnichannel model, which includes 125+ forex stores across India.
Thomas Cook (India) Limited has announced the opening of its first foreign exchange outlet in Varanasi, as part of its strategic expansion into emerging markets. This new outlet increases the company’s presence to five locations in the state of Uttar Pradesh. The outlet is situated in Nadesar, a location chosen for its accessibility to both local customers and the influx of inbound and non-resident Indian (NRI) travelers visiting the city.
The Varanasi outlet offers a range of services, including currency exchange for 26 global currencies, overseas remittances covering over 120 countries, and prepaid travel cards in partnership with Mastercard and Visa. These cards include the Borderless Travel card, FX Enterprise card, Study Buddy card, and the Thomas Cook One Currency Card, which features zero cross-currency conversion fees. The outlet also provides digital services such as TC Pay, online forex, and forex on WhatsApp, catering to the needs of on-the-move consumers.
The new outlet is designed to serve a wide consumer base, including Varanasi’s large student population, holidaymakers, and foreign nationals. It aims to support students traveling overseas for education and exchange programs, as well as tourists and holidaymakers. The store’s location in Varanasi, a city with a significant number of international tourists, especially during the winter season, is expected to attract a diverse clientele.
Thomas Cook India operates an omnichannel model that serves over 1 million customers annually. This model includes a website, the FX Now app, a call center, and more than 125 forex stores across 69 cities and towns in India. The company’s “Ghar pe Forex” service offers doorstep delivery within two hours, enhancing customer convenience and service efficiency.
The expansion into Varanasi is part of Thomas Cook India’s broader strategy to increase its footprint in emerging markets and enhance consumer access to its services. The company’s focus on providing seamless and secure forex services aligns with its commitment to meeting the needs of a rapidly evolving market beyond metro cities.
Thomas Cook (India) Limited, established in 1881, is a leading omnichannel travel company in India. It offers a wide range of services, including foreign exchange, corporate travel, MICE, leisure travel, and visa services. The company operates several B2C and B2B brands and has a presence in 28 countries across five continents.