Pine Labs, a leading merchant commerce omnichannel platform, and Thomas Cook (India) Limited, India’s leading foreign exchange service provider, have partnered with National Payments Corporation of India (NPCI) in a ground-breaking initiative to ensure safe, seamless, and convenient merchant payments via UPI for G20 foreign nationals. Pine Labs issued the prepaid payment product under the RBI’s PPI authorization. This service is available upon arrival at Thomas Cook’s airport counters.
- When you arrive at the airport, exchange foreign currency at the Thomas Cook counter.
- Rather than receiving INR in cash, Thomas Cook’s forex expert will assist the customer in opening a Pine Labs Fave Money prepaid account and loading the INR value.
- The customer then downloads the Pine Labs Fave app, signs in, and can begin using the preloaded INR amount by scanning any UPI QR code at merchant outlets throughout the country. India
- Upon departure, the customer can cash any remaining balance at Thomas Cook’s airport counters.
Pine Labs has launched Fave Money, which enables travellers from G20 countries to pay digitally via their mobile phone at millions of merchant establishments in India using UPI. Pine Labs’ prepaid product is powered by its proprietary issuing platform Qwikcilver and is integrated with the Fave mobile app.
B Amrish Rau, CEO of Pine Labs, commented on the launch, saying, “India’s G20 presidency was a proud moment for the country. In keeping with the beautiful theme of “Vasudhaiva Kutumbakam,” or “One Earth – One Family – One Future,” we wanted to help ensure that G20 visitors to India face no difficulties when making payments. When it comes to digital payments, UPI is India’s incredible contribution to the world, and a quick onboarding on the Fave app will allow these visitors to pay digitally via UPI using our Fave mobile app. We thank Thomas Cook and NPCI for this groundbreaking collaboration.”
“UPI One World is a game-changing service that will change the way international travellers pay in India. Travelers can make digital payments at millions of merchant establishments across the country using the Fave app, which is powered by Pine Lab’s issuing platform Qwikcilver. This innovative solution advances our mission of making digital payments more accessible and convenient for people everywhere. We are delighted to support Pine Labs and Thomas Cook’s initiative “NPCI COO Praveena Rai stated.