Thomas Cook (India), the integrated travel and travel-related financial services company on 1 November 2012 launched prepaid foreign exchange borderless prepaid card in collaboration with MasterCard Worldwide, a global payments and technology company.
The borderless prepaid card is going to enable travellers with an option of loading eight currencies on a single card that is US Dollars, British Pounds, Euro, Australian Dollars, Canadian Dollars, Swiss Francs, Singapore Dollars and Japanese Yen.
The borderless prepaid card is basically a multi-currency card which has a validity of five years. The person carrying the card is liable for getting the visiting country’s currency loaded on the card which enables him to save money and time.
The borderless prepaid card come up with an embedded chip and PIN which ensures security and increased protection against counterfeiting and skimming card frauds.
The company is also offering a free replacement of the card within 72 hours if in case it is stolen or had been lost. It also has 24x7 global emergency assistance via toll free access in over 80 countries.
The master card came to this idea after a Consumer Segmentation Study in which they had found that around 36.7 per cent affluent Indians want to go overseas for a holiday.
The collaboration with MasterCard, is supposed to grant an acceptance at over 34.3 million merchant establishments, e-commerce websites and access to 2 million ATMs.
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