Thomas Cook (India) Limited has introduced an industry-first cross-border rewards programme for its forex card customers, offering 10% rewards-back on international spends at select global retail brands. Announced on June 18, 2026, the initiative targets the growing preference for digital-first payment methods among Indian travellers overseas. The programme is designed to enhance the value proposition of prepaid forex cards by incentivising everyday purchases abroad and encouraging a shift from cash withdrawals to retail spends.

Programme Structure and Participating Brands

Customers using Thomas Cook's Visa and Mastercard Forex Cards will receive rewards on point-of-sale (POS), contactless, and e-commerce transactions. Participating brands include Grab, 7-Eleven, Starbucks, McDonald's, KFC, Careem, and Burger King. The rewards structure requires a minimum spend of USD 25 per merchant, allowing customers to earn cashback of up to USD 10 per day across participating outlets. These rewards are issued as Amazon vouchers, subject to specific terms and qualifying spend thresholds.

The key features of the rewards programme are outlined below:

Card Compatibility and Digital Integration

The rewards programme is applicable across all Thomas Cook India's Visa and Mastercard Forex Cards. It complements existing card features such as multi-currency capabilities, global acceptance, and integration with digital payment platforms like Google Pay. The company aims to drive greater usage of prepaid forex cards for daily overseas purchases and encourage a shift from cash withdrawals to retail spends.

Leadership Commentary

Mr. Deepesh Varma, Chief Business Officer – Foreign Exchange, Thomas Cook (India) Limited, stated that the programme addresses the expectation for seamless and rewarding payment solutions. He noted that while prepaid forex cards are secure and cost-efficient, the initiative aims to drive greater usage for everyday purchases. The move also supports the broader objective of accelerating the shift from cash withdrawals to secure, contactless, and digital-first payment solutions.

Company Overview

Thomas Cook (India) Limited recently expanded its forex card offering to 28 currencies. The company is a leading omnichannel foreign exchange services provider, offering services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, and Value Added Services. The group spans 28 countries across 5 continents.

Thomas Cook (India) Limited received an order from the Commercial Tax Officer, Chennai, confirming a tax demand of ₹13,94,644 regarding the adjustment of Input Tax Credit (ITC) against tax liability. The order, dated June 11, 2026, was received by the company on June 15, 2026, and pertains to the 5% Turnover tax under the Central Goods and Services Tax (CGST) Act 2017 and the Tamil Nadu Goods and Services Tax (TGST) Act 2017.

The regulatory action involves a demand of ₹13,94,644 for ITC wrongly adjusted against tax liability. Additionally, the authority levied interest of ₹5,37,835 and a penalty of ₹1,39,464 under Section 50 and Section 73 of the CGST Act 2017 respectively. The penalty was specifically imposed under Section 73 of the CGST/TGST Act 2017.

The company disclosed that it is taking necessary steps to appeal against the order before the appropriate authority. Management stated that it believes it has a good case on merits regarding the demand. Consequently, Thomas Cook reported that there is no material financial or operational impact on the entity resulting from this order.

The intimation was submitted to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was made by Amit J. Parekh, Company Secretary & Compliance Officer.