Thomas Cook India partners with ItzCash in order to expand its reach in the Nation and its inward remittance market. ItzCash is a technology centered ancillary unit of Essel Group.
The Foreign Exchange COO and Visas Head of Thomas Cook India, Mahesh Iyer said, “Inward remittances form about 22-23% of India’s foreign exchange income which has tripled over the last decade, which makes India a powerful growth market,”
He further added, “With this partnership, Thomas Cook India aims to become one of the leading inward remittance distribution networks in the country and we reaffirm our commitment as a comprehensive payment solutions provider.”
The Managing Director of ItzCash, Naveen Surya said, “From the inception, we have been offering digital payments especially for the mass middle class in the country. Our leadership in this space coupled with our distribution, especially in tier II and Tier III locations, will add lot more value to the end consumer.”
ItzCash Card Limited is a technological subsidiary unit of Essel Group, which is a Conglomerate of media, technology, infrastructure, charity, entertainment, packaging, precious metal and education. Essel Group traces back its inception to the year 1976 in Mumbai, which is the Headquarter of the organisation.
Thomas Cook India is a Mumbai-based travel related financial service provider which offers services like Foreign Exchange, International and Domestic Holidays, Visa, Passport, Travel Insurance and MICE (Meetings, Incentives, Conferences and Exhibition/ Events) travels. The travel service provider started its Indian operations in 1978.