JOHNS CREEK, GA – December 09, 2018 – Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, healthcare, financial and e-learning industries, today announced that its division EbixCash World Money, India’s leading Foreign Exchange service provider, has been awarded rights for providing Foreign Exchange services at Kannur International Airport in the state of Kerala, India. The EbixCash WorldMoney Forex services were inaugurated in the presence of India’s Civil Aviation Minister Mr. Suresh Prabhu, Chief Minister of Kerala Mr. Pinaryi Vijayan, Union Civil Aviation Minister of State, Mr. Jayant Sinha, Kerala Government Ministers, Mr. E.P.Jayarajan, Mr. E.Chandrasekharan, Airports Authority of India Chairman, Mr. Guruprasad Mohapatra, Managing Director ,Kannur International Airport Limited , Mr. V.Thulasidas amongst other senior Central and State Government officials, Industry leaders and other functionaries.
Spread about 2,000 acres, the Kannur Airport is the newest addition to India’s international airport portfolio. The airport is expected to serve more than one million passengers annually with passenger traffic estimated to increase five-fold by 2025. Kannur Airport is the second greenfield airport setup in the public private partnership (PPP) model in the civil aviation infrastructure sector in the state of Kerala.
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, “Kannur is a fast-growing business and tourism destination with Wayanad and Coorg being in close proximity. Besides being the district headquarters, it offers a mix of beaches, forts and museums. A large number of international flights also offer direct connectivity from Middle East destinations such as Abu Dhabi, Sharjah, Muscat, Riyadh, Doha and Kuwait, making it 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.”
Kannur 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.
EbixCash World Money (formerly CentrumDirect Ltd), has today grown to become one of the largest players in retail Foreign Exchange Services with a turnover of approximately Rs. 15,000 crores (approximately USD 1.8 Billion). EBIXCASH World Money’s mission of reaching its customers wherever they are, and its tagline” Think Forex, Think EbixCash World Money” is articulated through its’ network 25 airports, 95 branches in 59 cities including major airports and tourist destinations. It services a wide and growing customer base of corporates, business, leisure travelers and students. EbixCash World Money offers a wide range of services that include Foreign Exchange, Corporate & Leisure Travel, Insurance, Visa & E-business. The Company has many firsts to its credit, like introducing the first prepaid Forex card called the EbixCash World Money Travel card.
With a "Phygital” strategy that combines 260,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, Forex, travel, pre-paid & gift cards, utility payments, lending etc., in an emerging country like India. The Company’s 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. EbixCash, through its travel portal Via.com, is also one of Southeast Asia’s leading travel exchanges with over 110,000 distribution outlets and 8,000 corporate clients processing over 24.5 million transactions every year. For further details, visit www.ebixcash.com
Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com
As used herein, the terms “Ebix,” “the Company,” “we,” “our” and “us” refer to Ebix, Inc., a Delaware corporation, and its consolidated subsidiaries as a combined entity, except where it is clear that the terms mean only Ebix, Inc.
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