THOMAS COOK INDIA PARTNERS WITH ALLPOINT NETWORK

Thomas Cook India (TCIL) has announced its strategic partnership with Allpoint Network through its Borderless Prepaid Card, offering Indian travellers unique access to over 43,000 surcharge-free ATMs in the U.S. and about 55,000, worldwide.

TCIL’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$ 2-5 per transaction as an ATM surcharge for accessing ATMs in premium locations). Hence, in a focused initiative to leverage the growing potential of the prepaid card market, Thomas Cook India has partnered with Allpoint Network (an affiliate of Cardtronics, Inc), to offer users of its multicurrency Borderless Prepaid Card impactful value via surcharge-free access to the Allpoint network of over 55,000 ATMs across USA, Canada, Mexico, UK and Australia.

TCIL now becomes the first card issuer in India to offer its cardholders surcharge-free ATM access when travelling overseas via the Allpoint ATM Network. Thomas Cook India’s partnership with America's largest surcharge-free ATM network will benefit consumers travelling not just to USA, but also UK, Canada, Mexico and Australia and is a strong reiteration of its value proposition of cashless travel across borders.

Commenting on the partnership, Mahesh Iyer, Chief Operating Officer - Foreign Exchange, TCIL 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, owner of the 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.”