Thomas Cook India Launches Forex App 'TC Pay' For Android, Apple Users

Thomas Cook India Ltd. launched a foreign exchange application 'TC Pay' for Android and Apple users on Monday, as per a disclosure to the exchanges.

"TC Pay offers a one-stop forex solution for B2C customers whether it’s buying or reloading forex cards, buying or selling currencies or sending international remittances," said a press release.

The app offers features such as end-to-end digital fulfilment, all-in-one forex card management, real-time card tracking and WhatsApp calling for instant support.

"Mobile apps have emerged as the preferred gateway for financial transactions globally, with mobile-based remittances accounting now for 60% of all digital transfers (Visa report). In India, this shift aligns with a broader digital payments revolution—over 93% of consumers use digital payment methods, and 9 out of 10 manage at least one financial task online (Mastercard New Payments Index)," said the release.

Based on this data, Thomas Cook's launch marks "a strategic leap in its digital-first journey", the company stated. The app further aligns with Thomas Cook's consumer centric 'Ghar Baithe Forex' belief.

"With TC Pay we've launched yet another consumer empowering innovation – offering our range of forex services under one intuitive app, for a truly seamless experience," said Deepesh Varma, executive vice president of foreign exchange at the company. "Additionally, this strategic move aims at leveraging technology to extend our reach beyond the physical/retail network, to unlock high potential new/underleveraged markets," he added.

This development follows the successful integration of Google Pay for forex payments and the rollout of WhatsApp Calling feature for real-time customer support by the company.

"This digital-first transformation also enables Thomas Cook India to extend its footprint beyond physical branches, unlocking opportunities in new and underserved markets through a strong, scalable digital presence," the release added.

Shares of Thomas Cook India ended 1.12% lower as compared to a 0.18% decline in the benchmark Nifty 50 on Monday.