The Worldwide travel agency cum Forex Services Company Thomas Cook (India) Ltd (TCIL) and the National Payments Corporation of India (NPCI) have launched India’s first RuPay prepaid forex card for Indians travelling to the United Arab Emirates (UAE).
The omnichannel travel company TCIL is offering a broad spectrum of services including foreign exchange, corporate travel, MICE, leisure travel etc. The product, RuPay prepaid forex card for Indians travelling to the United Arab Emirates (UAE) has been launched as a pilot in the UAE with a global rollout planned in a phased manner.
The Reserve Bank of India (RBI) had in June allowed Authorised Dealers (ADs) to put in place Board-approved policies to issue Rupay forex cards.
“RuPay Debit and Credit cards issued by banks in India are gaining increased acceptance abroad. It has now been decided to permit the issuance of RuPay Prepaid Forex cards by banks,” RBI governor Shaktikanta Das had said. He further said that these cards will expand payment options for Indians travelling abroad and also increase the reach of RuPay cards.
Initially, Thomas Cook’s Forex card will be loaded in UAE Dirhams (AED), offering several use cases in the UAE including free insurance, free ATM withdrawal, travel vouchers up to rs.13900, free lounge access in international airports in India, ATM withdrawals, free replacement on loss of card, complimentary insurance cover up to Rs 7,50,000, and more.
“As travel demand returns to normal, Indian tourists will soon have access to a myriad of enticing benefits and rewards offered by this card. Our goal with the RuPay Forex card is to create an unparalleled end-to-end consumer experience for Indian travellers,” said NPCI.