India’s outbound remittances sector has witnessed a robust annual growth of 25% for the past two years, indicating substantial market potential. In response to this surge, Thomas Cook (India) Limited, a leading provider of omnichannel forex services, has reported significant growth in its remittance services. To further enhance its offerings, the company has introduced TCPay, a new digital solution designed to streamline international money transfers.
Previously, sending money overseas was often a cumbersome process, requiring branch visits, extensive paperwork, and adherence to restrictive business hours. To address these challenges, Thomas Cook has developed TCPay. This innovative service leverages a user-friendly digital interface and integrates the company’s recently implemented Video KYC technology. This allows customers to make paperless transactions from the comfort of their homes, eliminating the need for physical visits to branches.
TCPay offers a range of benefits that make it an ideal solution for individuals and businesses alike. The streamlined digital process reduces the time and effort required to initiate and complete international money transfers. The integration of Video KYC ensures a convenient and secure experience, allowing customers to verify their identities remotely without the need for physical documentation. The platform also offers competitive exchange rates and transparent fee structures, providing customers with greater value for their transactions.
To introduce TCPay, Thomas Cook has created an engaging promotional video that showcases the platform’s user-friendliness and convenience. Deepesh Varma, Executive Vice President of Thomas Cook (India) Limited, stated that the company’s data indicates significant growth in its outward transfers business. In line with the company’s digital-first approach, TCPay has been introduced to maximize market share in this high-potential segment. Mr. Varma emphasized the platform’s commitment to ensuring smooth and seamless outward remittances for both individuals and businesses, while also facilitating the digitization of the remittance process. He added that TCPay is not merely a service but a testament to Thomas Cook India Group’s unwavering focus on creating digital-first innovation and customer-centricity.
