OANDA and Thomas Cook Global & Financial Services Partner to Offer Foreign Exchange Fulfillment Over the Internet
More than 100 Foreign Currencies Available for On-line Purchase and At Home Delivery via 13,000 Web Sites
NEW YORK - August 7, 2000 - OANDA, the Internet's leading provider of currency localization tools, information and transaction services, and Thomas Cook Global & Financial Services, the premier provider of currency exchange solutions to leading corporations, financial institutions and individual consumers worldwide, today announced that they have entered a partnership to provide potentially millions of travelers with the option of purchasing currency via the Internet.
This new currency exchange service, called FXDelivery, is available to users of OANDA's online currency converters. Initially available only in the U.S., FXDelivery, powered by Thomas Cook Global & Financial Services, will allow web surfers on over 13,000 of the Internet's most popular travel, airline, financial and general news sites to purchase international currencies prior to departing on leisure trips and business travel.
In the past, web surfers using OANDA's currency converter on partner web sites could research the exchange of 164 currencies, in any number of combinations or quantities. Now, on the results page of the currency converter, surfers seeking currency exchange services will have the option of pressing a button that says, "Buy Currency Now." Next, an online form will pop up asking for delivery and payment information. Thomas Cook Global & Financial Services concludes the process by fulfilling the order, packaging and sending it to the customer, via either 2nd day or overnight courier.
Among OANDA's current clients are AOL.com, Alta Vista, Swissair and Trip.com, and the individual travelers that frequent those sites. The two companies plan to launch the service to 25 percent of OANDA's clients by Aug. 7, 2000, adding another 25 percent each week until completion. After rolling it out to US clients, the service will be expanded to include Canada, the U.K., Europe and Australia.
"With OANDA's extensive Internet distribution capabilities and Thomas Cook Global & Financial Services' international fulfillment services, this partnership will offer a valuable proposition to travelers seeking currency exchange services on the Internet," said Tim Kelly, Chairman, CEO and President of OANDA. "This has been a very exciting project. With projections rising for travelers booking trips online, ordering currencies over the Internet will offer the final solution for business and leisure travel."
"By partnering with OANDA, Thomas Cook Global & Financial Services is offering end-consumers yet another avenue to meet their foreign exchange needs," said Barney Zeng, Senior Vice President & General Manager, Business Partners, Thomas Cook Global & Financial Services. "In addition to the world's largest network of retail foreign exchange bureaus, we hope to reach more customers than ever before through this partnership.
About Thomas Cook Thomas Cook Global & Financial Services is a premier provider of currency exchange solutions to leading corporations, financial institutions and individual consumers worldwide. For more than 100 years, the company has continued its history of service and innovation by offering a variety of products via retail, wholesale and corporate relationships to best serve customers' foreign exchange needs. From its leading Web-based foreign exchange and payment applications to the world's largest network of retail foreign exchange bureaus, Thomas Cook Global & Financial Services offers the convenience and flexibility required in today's marketplace. In addition, Thomas Cook Global & Financial Services offers travelers an extensive range of emergency and specialty travel services through Global Traveller Services, available 24 hours a day, 365 days a year, in more than 30 languages.
About OANDA Established in late 1996, OANDA is a leading developer of currency conversion and localization applications for owners of e-commerce web sites, the travel industry and the financial community. With over 13,000 customers using its applications and currency information and 20 million page views a month on its web network, OANDA is committed to making essential currency information easily accessible to anyone including currency investors and traders, professionals in corporate procurement, and business and private individuals who buy and sell globally. Actively providing currency conversion services for the Internet users of CNNfn.com, AOL.com, Alta Vista Concierge.com, Swissair, Trip.com, among others, OANDA has won wide acclaim as the best source for foreign exchange rates. For more information, please visit the company's web site at www.oanda.com.
