MakeMyTrip Introduces Multi-Currency Payment Feature to Boost Global Tourism

Online travel giant MakeMyTrip has launched a multi-currency payment feature to enhance the convenience and experience of its global users. This initiative comes soon after the company became General Data Protection Regulation (GDPR) compliant, ensuring accessibility in over 150 countries, according to an official press release.

The feature allows users to book flights and hotels using leading global currencies such as the US Dollar, Euro, British Pound, and others. This functionality aims to connect international travellers seamlessly to MakeMyTrip’s extensive network of accommodations, which spans more than 2,100 cities in India. It is expected to benefit the Indian diaspora and global tourists, simplifying travel planning and payment processes.

Rajesh Magow, Co-founder and Group CEO of MakeMyTrip, highlighted the feature’s significance, stating:

"This feature simplifies payments in the currency of their choice for the Indian diaspora spread across the globe, as well as our international customers."

Simplified Payments and Refunds in Preferred Currency

One standout aspect of this feature is its ability to process refunds and issue vouchers in the same currency used for payment. This eliminates the inconvenience of currency conversion, making it a highly user-friendly solution for global travellers.

The company aims to leverage this feature to attract more international tourists and contribute to India's inbound tourism growth, which has been steadily recovering after the pandemic. The platform anticipates that the multi-currency payment option will position MakeMyTrip as a preferred choice for global travellers planning trips to India.

Strong Post-Pandemic Recovery and Expansion

According to data from Statista, MakeMyTrip generated an estimated $782 million in revenue from India in FY24, with the majority stemming from hotels and packages. This robust performance underscores the company’s recovery from the challenges posed by the Covid-19 pandemic.

The company is also exploring new avenues for growth. Earlier this month, MakeMyTrip signed a business transfer agreement to acquire Happay, an expense management platform, from CRED for an undisclosed amount. The acquisition is expected to bolster MakeMyTrip’s capabilities in the corporate travel and expense management segment. Happay’s integration will provide businesses with advanced tools to manage travel expenses efficiently.

Conclusion

With the launch of the multi-currency payment feature, MakeMyTrip has taken a significant step towards strengthening its appeal to the global audience. By simplifying financial transactions and ensuring seamless refunds, the platform has reaffirmed its commitment to enhancing customer experience.

As inbound tourism gains momentum post-pandemic, initiatives like these are poised to play a pivotal role in positioning India as a preferred travel destination. Coupled with the company’s recent acquisition of Happay, MakeMyTrip is set to diversify its offerings and solidify its leadership in the digital travel industry.