Wise has announced the launch of its multi-currency travel card in India, with the company joining the market just as outbound travel increased substantially.
Recent data shows that India recorded approximately USD 432 million overseas departures in 2024, with this number being mostly driven by leisure travel (42.5%), diaspora travel (34.7%), and business trips (14.9%). Additionally, spending beyond borders has scaled exponentially.
Currencies, pricing, and more
Specifically for India, Wise’s multi-currency travel card provides transparent pricing and supports over 40 currencies, with the offering focusing on offering an improved experience for travellers who often face hidden fees from traditional providers.
According to Wise, the travel card leverages the mid-market exchange rate and displays a transparent conversion fee. Over 75,000 individuals have joined the waitlist within a month after the company announced the upcoming launch at the Global Fintech Festival. This emphasises the increasing demand for transparent pricing and optimal payment solutions.
Additionally, Wise’s card has been designed with current travel patterns at its core and includes 40 currencies for destinations such as Vietnam, Indonesia, Turkey, and Georgia, among others. The solution can be utilised in over 160 countries through the Visa network. Customers can go through the onboarding process via DigiLocker and video KYC, with them benefitting from an instant digital card for online use and top-up through IMPS.
Furthermore, the new offering automatically chooses the best available rate for foreign spending regardless of whether the traveller holds the currency in the wallet or not. Customers can freeze or unfreeze the card, set spending limits, and receive real-time alerts.
By launching the multi-currency travel card, Wise positions itself as an option in India’s travel payments market, where more consumers gravitate toward transparency in fees and exchange rates. Talking about the rollout, Taneia Bhardwaj, South Asia Expansion Lead at Wise, stated that, as Indian travellers are going abroad in record numbers, the company aims to provide them with the ability to spend internationally more efficiently, just as the travel season begins. With this launch, Wise seeks to offer users increased convenience and an improved product experience while travelling across borders.
