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Ebix wins Contract to provide Foreign Exchange Services at Cochin Airport

Published in Banking & Finance Wednesday, 26 December 2018 13:44



 Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance, healthcare, financial and e-learning industries, started its division EbixCash World Money, India’s leading Foreign Exchange service provider, has been awarded rights for providing Foreign Exchange services at Cochin International Airport .The EbixCash WorldMoney Forex services were inaugurated by V.J.Kurien, Managing Director, Cochin International Airport Limited in the presence of senior Government officials, and other functionaries.


Cochin International Airport, is the first airport in India developed under a public-private partnership (PPP) model and was funded by nearly 10,000 non-resident Indians from 30 countries. It is the busiest and largest airport in the state of Kerala. As of 2017, the Cochin International Airport caters to 63.86% of the total air passenger movement in Kerala. It is also the fourth busiest airport in India in terms of international traffic and seventh busiest overall. In fiscal year 2017-18, the airport handled around 10.2 million passengers with a total of 68,898 aircraft movements


EbixCash World Money will offer passengers flying in & out of the city, foreign exchange at competitive rates, along with a host of other products such as travelers Cheques, multi-currency prepaid cards and travel insurance. 


Commenting on the launch, T C Guruprasad, Managing Director, EbixCash WorldMoney said, “Kochi International Airport is a strategic location for us to offer our forex and travel services. We currently have 6 branches and 9 airport forex counters in the state of Kerala.”


Cochin Airport Forex Services Contract marks another coveted win for EbixCash WorldMoney, the undisputed Leader in India’s Foreign exchange and outward remittance markets. With a turnover of approximately Rs. 15,000 crores (approximately USD 1.8 Billion), EbixCash WorldMoney Forex Exchange has an approximate 70% market share of India’s airport Foreign Exchange business encompassing 25 international airports like Delhi, Mumbai, Bangalore, Chennai and Kolkata International airports, while conducting over 1 million transactions per annum. The EbixCash WorldMoney Exchange also has a 15% market share in India’s fast growing $1.5 Billion education outward remittance business.




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Business Digest August September 2018

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