Thomas Cook India partners with Essel Group firm ItzCash

By: | Published: December 22, 2015 10:23 AM

Travel services provider Thomas Cook India has announced a partnership with digital payments solution firm ItzCash of Essel Group to expand its outreach to India's rapidly growing inward remittance market.

Thomas cookShares of Thomas Cook India today closed at Rs 201.85 per scrip on BSE, down 0.15 per cent from the previous close. (Reuters)

Travel services provider Thomas Cook India has announced a partnership with digital payments solution firm ItzCash of Essel Group to expand its outreach to India’s rapidly growing inward remittance market.

“Inward remittances form about 22-23 per cent of India’s foreign exchange income and having more then tripled over the last decade, is a powerful growth market”, Thomas Cook India Foreign Exchange COO and Visas Head, Mahesh Iyer said.

With this partnership, Thomas Cook India aims to become one of the leading inward remittance distribution networks in the country and reaffirm its commitment as a comprehensive payment solutions provider, he added.

“From the inception, we have been offering digital payments especially for the mass middle class in the country,” ItzCash Managing Director Naveen Surya said.

The company’s leadership in this space coupled with its distribution especially in tier II and Tier III locations will add lot more value to the end consumer, he added.

Shares of Thomas Cook India today closed at Rs 201.85 per scrip on BSE, down 0.15 per cent from the previous close.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition