Visa India expanding digital payment solutions to boost medical tourism

Payment technology firm Visa India is expanding its digital payment solutions to cater to the growing interest in experiential travel and medical tourism, said Sridhar Keppurengan, Business Head of Cross Border Payments at Visa India and South Asia.

Visa cards are currently accepted in over 200 countries and territories. “This widespread acceptance supports Indians who prioritise authentic connections and immersive experiences, driven by social media and the trend towards lesser-known destinations and eco-friendly practices,” he said.

India’s tourism industry is a significant contributor to the economy, with a market size estimated at Rs 1,004.3 crore in 2023.

Further, wellness tourism is a particularly emerging as a promising segment. In 2024, the wellness tourism market was valued at approximately Rs 159.1 crore, and it’s projected to reach Rs 265.5 crore by 2029.

“Medical tourism is a large contributor to India’s inbound travel industry with a significant number of persons timing their visits for both minor dental or cosmetic procedures or major interventions that cost a fraction of what it would in the West,” noted Keppurengan. He said that Visa is ensuring that international credit and debit cards are widely accepted at hospitals and wellness centres, minimising the anxieties associated with cash conversion or holding large amounts of cash.

“Visa provides robust, round-the-clock protection against fraud making card transactions more secure,” said Keppurengan.

India’s blend of ancient healing practices like Ayurveda, Siddha, and Yoga, combined with its biodiversity, makes it a prime destination for wellness tourists. Cities like Mumbai, Chennai, New Delhi, and centres in Rishikesh and Kerala are becoming popular for these therapies.

“India has firmly established itself as a leading global wellness destination by seamlessly integrating ancient healing practices like Ayurveda, Siddha, and Yoga with its vast biodiversity, making it an appealing option for wellness travellers seeking economical choices,” Keppurengan elaborated.

Digital platforms have simplified access to wellness services, playing a crucial role in the sector’s growth. “The emergence of digital platforms has simplified both discovery and access to these services, playing a key role in the expansion of wellness tourism in India,” added Keppurengan.

Under the ‘Incredible India’ banner, the Ministry of Tourism is promoting wellness tourism and partnering with states and Union Territories to enhance it. The Ministry of Ayush advocates traditional wellness methods through initiatives like International Yoga Day and the Ayush Grid. Meanwhile, the private sector is establishing wellness hubs and investing in training practitioners to meet international standards.

Visa’s initiatives include a pilot programme with a medical tourism aggregator in India, offering Visa cardholders from select countries concierge-like services and discounts on hospital care. This program led to a significant increase in inquiries.

“We consistently collaborate with acquiring banks to ensure extensive domestic and international card acceptance, not just within hospitals but also across related sectors, including diagnostics, pharmacies, dental care, cosmetology clinics, and increasingly, Ayush service providers,” Keppurengan highlighted.

Online booking platforms and mobile applications have simplified trip planning, promoting more informed and impromptu travel decisions. Digital wallets and contactless payment methods have streamlined transactions, reducing the reliance on cash and making travel experiences more flexible and efficient.

“Transactions have been streamlined with digital wallets and contactless payment methods, reducing the need for cash,” explained Keppurengan.

Visa’s collaboration with acquiring banks ensures extensive card acceptance, including in metros and public transit systems in major tourist destinations. “Global card acceptance, including a tap on entry/tap on exit on metros and public transit in predominant tourist destinations, contributes to a more flexible, efficient, and tourist-friendly market,” he added. Business Today