Wise India.
International travel is becoming more accessible for Indians, and with the recent reduction in Tax Collected at Source (TCS), many are planning to spend more on overseas trips. But while travellers carefully compare airfares and hotel prices, the true cost of foreign exchange often receives far less attention. According to the recent Passport & Paisa Report by Wise, Indian travellers are increasingly prioritising transparency, reliability, and greater control over how they spend abroad, signalling a shift in what they value when managing travel finances.
In this conversation with Mid-day, Taneia Bhardwaj, South Asia Expansion Lead at Wise, discusses the findings of the survey, changing consumer behaviour, and why understanding exchange rates and hidden fees has become just as important as planning the trip itself.
1. Nearly 78% of Indian travellers plan to increase their international travel spending following the TCS reduction. Do you expect this policy change to accelerate outbound travel from India significantly?
India's outbound travel momentum is already evident, and the reduction in TCS is likely to support that confidence further. What we found in our latest report is that nearly 78% of Indian travellers are actually planning to ramp up their overseas spending because of this policy change. It's a clear sign that exploring the world is becoming less of a rare luxury and more of a regular, meaningful part of life for many of us, whether that's for a well-deserved holiday, studying abroad, or finally visiting family.
When you lower that initial financial hurdle, it gives people the breathing room to focus on the experience itself. We're seeing travellers reallocate those funds to stay a few days longer, visit that second city, or simply dive deeper into the local culture. But with that increased spending comes a natural, more thoughtful shift: people are becoming much more conscious of their hard-earned money. They care deeply about their budgets, but they're often frustrated by the blind spots, those hidden markups and exchange rates that quietly eat away at their funds without them even realising it.
2. Do you believe Indian consumers today are becoming more conscious about transparency in financial products, particularly when travelling overseas?
Indian consumers appear to be paying closer attention to transparency in financial products, particularly regarding international spending. What stood out in our report is that travellers care deeply about their budgets but often have limited visibility into the exchange rate or markup applied when paying overseas.
Travellers may spend days comparing flights, hotels, and itineraries in detail, but often have far less visibility into the cost of foreign exchange itself. People know they are paying for foreign exchange; they simply do not always know how much of that cost is buried inside the rate.
This creates a sharp contrast between how Indians pay at home and how they spend abroad. In India, consumers are used to digital experiences that are instant, transparent, and easy to understand. As people become more accustomed to that level of clarity, there is likely to be a growing expectation for the same experience when spending internationally.
3. Global card acceptance emerged as the most important feature when choosing a travel card, even ahead of rewards and lounge access. Does this signal a shift from lifestyle-driven benefits to utility and reliability?
The survey results suggest that reliability remains a fundamental need for travellers. Global card acceptance ranking ahead of rewards and lounge access may reflect a simple preference for confidence and ease when spending internationally.
The moment a traveller's card does not work abroad can create its own form of money anxiety. It is a small moment, but it can be particularly disruptive when someone is in an unfamiliar place and simply wants confidence in being able to pay for everyday experiences.
While lifestyle benefits still appeal to younger travellers, the priority abroad is peace of mind. Travellers value reliability, transparency, and ease of use above all else, as these remove the stress of paying for things in a new country.
4. As international travel becomes more frequent, how do you see travel money management evolving over the next few years? Will multi-currency accounts and digital wallets become more mainstream among Indian travellers?
Behaviour does appear to shift with experience. The more Indians travel, the more deliberate they become about managing money abroad. While cash remains popular today, there is likely to be growing interest in solutions that offer greater visibility and control, including multi-currency accounts and digital wallets.
Our report found that despite India's rapid adoption of digital payments at home, many travellers still rely on cash and traditional foreign exchange products when they travel internationally. Over time, that behaviour may begin to change as people become more familiar with products that allow them to hold, convert, and spend money in multiple currencies more seamlessly.
The underlying need is quite simple: travellers increasingly want a clearer and more predictable way to manage their money internationally. As overseas travel becomes more frequent, digital-first solutions could become a more familiar part of how Indians prepare for and manage international spending.
5. The Wise Travel card was launched in India last year with a focus on transparency and the mid-market exchange rate. What has been the consumer response so far, and what trends have surprised you the most?
The response has been very encouraging. Demand for the Wise Travel Card has been strong from day one, with 40% of users on our waitlist ordering their card within the first two months of launch. During the initial phase, the card was used across 54 countries, with Europe and APAC accounting for the majority of spending. What stood out was how quickly travellers embraced digital-first payment habits, with 54% of all transactions being contactless and over 80% of customers opting for both physical and digital versions of the card. We also saw adoption beyond metro cities, indicating that demand for transparent and reliable international spending solutions extended well beyond India's largest urban centres.
6. If you had to give three pieces of advice to Indians planning an international trip this year, particularly around managing their travel budgets and foreign exchange, what would they be?
First, pay attention to the exchange rate you're getting and be mindful of hidden fees. The mid-market exchange rate, which is the rate you typically see on Google, is the fairest benchmark for currency conversion. Many providers add a markup to this rate or include charges that are not immediately visible, and even small differences can add up and significantly impact your travel budget, especially if you're working with a fixed amount of money.
Second, try to understand the total cost of spending abroad before you travel, including any fees or markups that may not be immediately visible. Having a better understanding of the total cost can help travellers make more informed decisions and avoid surprises later.
Third, choose payment methods that offer transparency and reliability. International travel already comes with enough planning and uncertainty, and greater visibility over how and where you spend can make managing money abroad feel much more predictable.
