Thomas Cook India Limited has expanded its prepaid forex card portfolio by adding 16 new global currencies, taking the total number of supported currencies to 28. The expansion includes currencies such as the Chinese Yuan, Swedish Krona and South African Rand, strengthening the company’s offering for outbound Indian travellers across a wider set of geographies.

The move comes at a time when outbound travel demand from India is steadily normalising and diversifying beyond traditional destinations. Travellers are increasingly visiting multiple countries within a single itinerary, making multi-currency solutions more relevant. By enabling customers to hold and transact in a broader range of currencies, the company aims to reduce reliance on repeated currency conversions, which typically increase transaction costs and expose users to exchange rate volatility.

What is changing is the structure of forex consumption among Indian travellers. Traditional models relied heavily on cash or single-currency cards, often requiring multiple conversions when travelling across regions. A multi-currency prepaid card simplifies this process by allowing users to preload and switch between currencies seamlessly. This improves transparency in spending and offers better control over foreign exchange costs.

In addition to expanding currency coverage, Thomas Cook India is strengthening its digital distribution capabilities. Customers can load and manage forex balances through both retail outlets and digital platforms, reflecting a hybrid approach to customer engagement. The company has also introduced faster fulfilment through a partnership with Blinkit, enabling forex loading in under an hour in select cases. This addresses a common friction point for last-minute travellers.

The company is also integrating customer support and payment convenience features. Round-the-clock forex assistance via WhatsApp and support for contactless payments indicate a shift toward real-time, app-based service models. Compatibility with Google Pay-enabled point-of-sale terminals further aligns the product with global digital payment ecosystems, making it easier for users to transact abroad without relying on physical cash.

Why this matters from a business standpoint is the increasing convergence between travel services and fintech capabilities. Forex cards are no longer just currency instruments but are evolving into digital payment tools that compete with international debit and credit cards. By enhancing usability and currency coverage, Thomas Cook India is positioning itself within this competitive space, where customer experience and digital integration are key differentiators.

Market Impact on India

The expansion reflects rising outbound travel demand and increasing adoption of digital payment solutions among Indian consumers. It also supports the formalisation of forex transactions, reducing reliance on informal currency exchange channels.

Sector Impact

Within the travel and forex services sector, the move could intensify competition among players offering prepaid travel cards and cross-border payment solutions. Fintech firms and banks may respond with similar multi-currency and digital-first offerings to retain market share.

Bull vs Bear Scenario

The bullish view is that higher currency coverage and digital convenience will drive increased adoption of forex cards, boosting fee-based income for the company.

The bearish view is that competition from global payment networks and fintech platforms could limit pricing power, especially as international card acceptance improves.

Risk Section

Key risks include fluctuations in outbound travel demand, regulatory changes in forex transactions, and competitive pressure from banks and fintech companies offering similar or more integrated solutions. Technology execution and service reliability will also be critical in maintaining customer trust.

Overall, the expansion of the forex card portfolio signals Thomas Cook India’s strategic shift toward digital, multi-currency payment solutions, aligning with evolving travel patterns and customer expectations.