Prime Venture Partners Podcast

The Story of Niyo's IPL Advertisements with Vinay Bagri (Co-founder & CEO, Niyo)

• Prime Venture Partners: Early Stage VC Fund • Season 1 • Episode 145

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In this podcast episode, we bring to you an exciting new episode on the IPL Ads of Niyo that went viral. Sanjay Swamy chats with Vinay Bagri, Co-Founder and CEO, Niyo who explains the backstory of each of the four (4) Ads for our viewers/listeners. 


Ad 1: Zero = Hero (No Forex Markup)  | https://www.youtube.com/watch?v=TVT35es28SY

Ad 2: Trip Planned But No Visa? (Visa On Time, Every time) | https://www.youtube.com/watch?v=XUEfTnYii-8

Ad 3: Hide & Seek (Free International ATM Withdrawals) | https://www.youtube.com/watch?v=MIbGxb3Lhd0

Ad 4: Are You A Rejection Magnet? (Accepted in 180+ countries) | https://www.youtube.com/watch?v=eUhhjcXjWxI

Vinay talks in detail about the efforts taken to get their Ads on the IPL platform and how it has benefited their business tremendously. Additionally, he provides interesting stats on the booming travel industry and insights about Indian travelers!


Tune into this episode to learn more about Ads, marketing and how to experience seamless global travel with Niyo. 


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Vinay Bagri:

What we're trying to do is trying to marry the boring world of banking with an exciting world of travel.

Niyo Ads:

Need a new way to travel cash free. Need a new way to get a visa. Need a new way to pay abroad. Need a new way to save on international spends.

Sanjay Swamy:

All right, hi everybody, welcome to this episode of our. I don't know if this is our podcast. Is that what it is? All right, it's slightly different. This time we're going to drill down into what Niyo, which is one of our favorite portfolio companies. All of them are our favorites, but is a card that we use a lot. Also, we have Vinay here with me. Vinay is the co-founder and CEO of . Welcome, vinay.

Vinay Bagri:

Thank you.

Sanjay Swamy:

Sanjay and great to have you here, and has evolved a lot over the years, so maybe we can start by your actually talking a little bit about what is, what scale you're at and what the next few months holds for and its customers.

Vinay Bagri:

So, Sanjay, thanks a lot for having me here once again. And yeah, about , as you rightly pointed out, we have had our journey, various products, but over the last couple of years, we found our niche in international travel as a solution for any indian traveling abroad wanting to have experience, which is, which is seamless, so that the customer can focus on his travels and not on his financial aspect. So, as of today, we offer various cards which solve, which solve these problems and going forward, other than cards, you will have cash remittances and anything to do with cross-border as a part of the package available to the customer. Also, as you would see in our you would have seen in our campaigns, what we're trying to do is trying to marry the boring world of banking with an exciting world of travel and make it you know more. Where banking meets travel, it can make your dreams come true and it can make your travel so much more simpler and exciting. So that's what our endeavor now is.

Sanjay Swamy:

Wonderful. So let's actually talk a little bit about the marketing and some of the recent ads. You know it's the end of the IPL season. We all know RCB deserves to win.

Prime Venture Partners:

So much for all the Dhoni fans, but sorry about that.

Sanjay Swamy:

You know, maybe we can talk a little bit about the campaign itself. I think there were three or four ads right around four different themes. It may be nice to just dissect a little bit of them and maybe first you can tell us what the objectives were and then we can dive into each of the ads and tell us what the purpose was and how it was received.

Vinay Bagri:

So, sanjay, there were four ad copies which got released. It took us a good lot of time market research, consumer focus to understand what are users's biggest challenge is when they travel abroad, and the theme of the campaign was the new way of travel. Like there is one way of traveling which you are used to today and then how can you change the way you travel, make it simpler, more efficient, with that was the whole theme so that we had four different kind of campaigns running.

Vinay Bagri:

So the first one, sanjay, is our core value proposition that when you travel abroad, the last thing you want is to calculate that, for every product you are buying, what is the amount of forex charge you're paying to your bank? And hence zero forex, where you don't have to worry. You just swipe your card and whatever is the interbank rate for the day, very close to that rate will get charged to you. But that time it was a 100% transparency no worries about figuring out what the rates are and what exactly it is today, not waiting for a statement to come after one month and getting to know. So we've tried to cut out all of that over the over the years and created a niche in the space where your your usual debit card or credit card becomes a forex card and it is 100% transparent. You can use it on your app. So the idea was to just bring that experience what a user goes through normally and then what it would be if it was .

Niyo Ads:

So let's play that ad need a new way to save on international spends. Enjoy zero forex markup on international debit cards. Download yeah.

Vinay Bagri:

So this was like taking through a real journey where you're spending and you're realizing you have four, five percent value to pay extra if I'm using a typical, you know, travel card, forex card, credit card, whatever it is. So with , you don't worry, it's as if you're shopping in india, so you can shop for better things than just the undergarments, is the idea here if you use it.

Sanjay Swamy:

Seemed like it was unaffordable underwear there. So that's the, that's the concept behind this one got it and, uh, you know that has been a common theme right from the beginning for right the zero forex markup, yeah um so even in the ipl, the first time we did a did a ipl with our travel theme.

Vinay Bagri:

Uh was 2022 and uh there the ad. As you would have, I think, remember, it was about for zero forex, right, but that time it was a novel concept.

Sanjay Swamy:

Today it is more known than where it is earlier, but still remains a major problem to solve for got it, you got it, and so, from a consumer perspective, the experience is quite simply I load rupees in my account, I travel anywhere in the world, I swipe my uh new dcb bank if you are in zara india or zara, spain, or you know zara anywhere in the world.

Vinay Bagri:

your experience should be exactly similar you choose a product, you swipe it and don't have to worry about the exchange rate if you're in a different part of the world.

Sanjay Swamy:

Got it Now. One thing they do ask you in the stores is do you want to see the amount in rupees or the amount in dollars? Which one do you want to accept, or euros, or whatever? There is a right thing to do there from the consumer perspective. What is a right thing to do there from the consumer perspective? What is the right answer there?

Vinay Bagri:

So what we have done, Sanjay, is sometimes you have to do what is good for the consumer, even if the consumer doesn't want it. These are some rare scenarios. So what happens is a storekeeper would typically turn the money into INR with a nice hefty 5-10% premium and you know you ask you whether you want a local currency or Indian currency. The first reaction naturally is I'm from India, indian currency. And you press that button and when you pay that 5-10% you think maybe it is who's charging or you get pleased by them. So initially we started with a campaign of customers saying that always choose in local currency. We did a whole campaign around it emails, messages, but still users you know at least 20, 30% of the users would end up still choosing Indian currency when they're abroad.

Sanjay Swamy:

Got it.

Vinay Bagri:

So finally we disabled that functionality. Okay. So if you are abroad and if you're trying to pay with a card in Indian currency at a Zara shop in Spain, it won't work and you will get a prompt immediately that this is DCC transaction. This is 10% costlier, 5-10% costlier for you. Please opt for local currency. So now we have taken away the option itself of us.

Sanjay Swamy:

So you just decline the transaction and message the customer saying try again.

Vinay Bagri:

Yeah, try again and the message goes on WhatsApp. So hopefully the customer, even if it doesn't have SIM, he will get the message.

Sanjay Swamy:

Got it. So yeah, note to all customers when you're traveling anywhere in the world, please use the local currency for your transaction. Don't ask them to convert it, because the merchant side actually, you know, gets a very attractive rate for the merchant.

Vinay Bagri:

The whole concept, sanjay, is that, with travel, the new way to travel is you are a global citizen. So if you are in Europe, choose Euro. If you are in US, choose dollar. It's as if you're shopping in your own country. Don't look at forex rates, don't worry about whether you are abroad whatever, Just keep swiping the new card, you'll be taken care of.

Sanjay Swamy:

We'll take care. Cool, cool, very cool, all right, so let's talk about the second ad, and this one has the dude in the Australian accent, so let's play the ad. Perhaps. 20 days to Australia, yes, neck pillow, Good eye mate. Universal chargers there are two Portable jet spray Our visa?

Vinay Bagri:

Not yet.

Niyo Ads:

Need a new way to get a visa.

Sanjay Swamy:

Get Visa on time every time on the.

Vinay Bagri:

app Download now I haven't come yet the ads also. You will see that there is a there's a real life, and the real life gets mixed with a dreamscape, like a dream life. So which is your indian banking avatar? Let's say, getting mixed with your traveler avatar?

Vinay Bagri:

and that's the whole idea. So, uh, you know, the idea was that when you are traveling, what are the key pain points? So forex charge was a key pain point. We solved it.

Vinay Bagri:

The second one, and when we were talking to our own customers that what else can we solve for you, and the answer came that can you get us a visa next time when we travel and can you make that process simple, efficient, because otherwise they depend on travel agent and you. You don't know what kind of charges they live by and typically I'll tell you, sanjay, you'll be shocked that when you take a visa, almost 30 to 50% cost of the visa is taken by the travel agent just to facilitate it, and it's not needed. Out of 180 countries now, almost 50 countries have electronic stamps, so you don't need to do anything. You upload your documents automatically. Your visa will come as e-stamp or your passport, so it is basically completely electronic. You don't need to do anything. And then there is, of course, biometric and all this stuff.

Vinay Bagri:

So, um, we were trying to find a way to solve the visa problem. Not really as a new to um, if somebody comes only for visa, most welcome, but the the solution is largely for the existing customers who next time when they want to travel abroad, don't have to look at any app beyond . That was the whole idea and in that, while we also have flight and we'll have hotels and everything, you can book through at a price which is better than most. But the big difference or big problem statement is not really flight, because you can book elsewhere also, but visa is definitely a broken process in India, so we took over upon ourselves to solve it. Ensure that we will give you a good experience at a at a rate which is unmatched in the industry. So that was the idea that we will. When you go with , it will ensure that your visa comes on time if you have committed your time, and the price will be what is the least possible in the industry got it so the product has gone live already.

Vinay Bagri:

Um, as we were advertising, and glad to say that we are, we are already among the top digital visa issuers in the country very nice.

Sanjay Swamy:

and and what would the top countries be where people are applying and and traveling on uh from as tourists from india out India? Just for the audience's curiosity, is it Dubai, singapore, australia? You had an Australian accent here, so I'm curious.

Vinay Bagri:

The reason there was an Australian accent there is these are visas which you never know when they're going to come if you are stuck normally. So it is better to especially if you're looking at a Schengen visa or aen visa or us visa or australia visa it is better to go with a vendor you can trust and you can trust the whole process to go with it. But to answer your question, where majority of the visas get, at least for india, I mean, there is really no guesses, no marks for guessing it is Dubai. So especially in the January, february, march, april months, it is like a mad rush to go to Dubai. After that it slows down a little bit. Still, it is among the top two, three. All the time Got it.

Vinay Bagri:

And then the next one is Southeast Asian countries. Depending on how Thailand is doing, if the visa on arrival is free, then you'll have more people going there. Otherwise, like Bali, for example, example, is another very popular destination where visa gets stamped in india. Vietnam visa gets stamped in india. Turkey is another destination where you don't need to really pre-plan. You can just immediately apply. Visa comes really fast. So there's some of these countries which enable visa fast and hence for anybody who is doing an impromptu travel. These destinations become the choice of travel, got it?

Sanjay Swamy:

Great. Let's look at the next two ads also. This one had somebody you know stuffing money in their toys and their shoes.

Prime Venture Partners:

Packing for Vietnam. Packing for Vietnam.

Niyo Ads:

Vietnam. Where's my bag? It's in Mongolia. Need a new way to travel cash-free. Get free ATM withdrawals globally. Download

Sanjay Swamy:

Yeah, so first of all, even the script of this ad right Vietnam, vietnam, and then the bag goes to Mongolia. Any specific reason for the choice of these countries?

Vinay Bagri:

No, vietnam, as I mentioned, is a very popular destination.

Sanjay Swamy:

That is one Second that is a, and Mongolia is not a popular destination. Mongolia is definitely not so popular.

Vinay Bagri:

And the other bit is Vietnam is also very cash-heavy kind of a market, because there are a lot of areas where you are more comfortable spending cash and also the currency is such that you will need to carry vads of it if you're only carrying cash there. So the message here is that 93% of Indians today, when they travel abroad, they have at least some kind of cash with them, which is fine. You want to be averse of risk and you want to ensure that when you land there, at least you have cash to go taxi, taxi to the hotel worst case situation, which is fair. But beyond that, like to carry cash as your primary way of spending abroad is really doesn't make sense. You will have the challenges of it getting lost and customs etc.

Vinay Bagri:

And most people don't realize that ATM withdrawal when you withdraw cash from ATM, the process is very similar to withdrawing from India ATM. So it is not that there's something dramatic which is going to happen because of which you won't be able to withdraw, or things like that. You can just go and withdraw as if you're withdrawing from India ATMs. So it is not that there's something dramatic which is going to happen because of which you won't be able to withdraw or things like that. You can just go and withdraw as if you're withdrawing in India. That is point number one. The challenge happens is that people are still thinking that when you withdraw cash from an ATM abroad the charges are going to be disproportionately high. But actually that is not the case. One is with the forex charges are zero. So anyway, when you are withdrawing it is as good as withdrawing INR.

Vinay Bagri:

Atm cost is there because that is levied by the bank, which is there, and the network partner. But what we've tried to do is we've reimbursed this ATM cost, whatever is incurred by the customer at the ATM kiosk abroad, in the way of Coins and which effectively means that whatever amount of money is charged as an ATM fee, 100% of that fee is reversed back in Coins. And these coins are usable. They are not like you're not able to use the easiest way to use it. You get these coins and you book a domestic flight. The flight is among cheapest among all platforms available. In fact, for inaugural offer we don't even have a convenience fee. So, effectively, whatever ATM, your money, you're spending abroad, you can book an Indian flight, domestic in India abroad, book a visa, take insurance, book an experience. Do whatever you want. It's almost as good as cash.

Sanjay Swamy:

Why are you telling me this now? One month ago I was traveling in the US and he never told me all of this stuff. Now, as soon as I come back, he's telling me all these things.

Vinay Bagri:

The viewers have to save money. Sanjeev, Anyway, no, you're going to use the no.

Sanjay Swamy:

So this is awesome From a consumer perspective. That's great right, because yes, there is a cost at that time, but A? A there's no markup, so there's no real additional cost. On the per, it doesn't matter with the withdrawal, twenty dollars or two hundred dollars, it's the same thing.

Vinay Bagri:

And again going back, to the concept new way of travel is that you have to travel as if you are in india, like whether you're going to goa or you're going to vietnam or you're going to bali. It should not be any different. When you go to vietnam, you don't go off. For example, you don't carry a 100,000 cash. You'll carry whatever is the basic necessity and beyond that, you will dip your card in the ATM and, without any thoughts, the cash will come out when you travel abroad. Whatever thoughts are there? One is in terms of ATM what is going to happen to exchange rate? Will the card work or not there at the ATM? And then, third, of course, what are the charges of ATM? We have taken away all the problems. So we are saying that you, the world, has become connected, world has become global. Why do you want to travel the way you were travelling abroad earlier? You should be using the new way of travel. That's the whole concept behind this got it.

Sanjay Swamy:

And then the last ad which we can talk about. I guess you said it's about acceptance, because, ultimately, for people you know they're trusting that this is going to work when they land at the other end of the planet. And so let's play that ad and then we can talk about it.

Prime Venture Partners:

Excuse me, you accept?

Niyo Ads:

need a new way to pay abroad international debit cards accepted in 180 countries.

Vinay Bagri:

Download so, sanjay, this is another very like a common occurrence that you know you will take your card and it may may not work abroad, especially because when a card is issued, Especially in a debit card situation right.

Vinay Bagri:

Absolutely. In debit credit cards, when they're issued to you initially they come with a lock. International and online transactions are locked. Online, typically, you will unlock because that is a natural behavior, but international, unless you are reminded, unless there is some journey built for you, um, thinking in the mind that you're going to travel abroad, which majority of the cards don't build that journey, because you're they. They are not for an international specific use case they are largely for an india use case.

Vinay Bagri:

So so then what happens is one you're not able to do the locks, you're not able to adjust your international limits. There are a lot of things you need to do on the app before the card becomes fully functional abroad and typically when you travel abroad you're not thinking you'll assume that it is going to work abroad and it doesn't doesn't happen. So that is problem number one. Problem number two a lot of fraud happens on where the data of the card is, with a scamster, let's say, and he would be using it abroad, and hence most banks go conservative and try and you know, force a user to give a declaration that I'm going to travel abroad, only then allow that If you don't declare, they will kind of decline the card and then they will try to reach you on phone. Most people would have changed their SIM by then, so the phone calls won't reach. They're not international roaming. So it is a. It is a very broken experience there. So what we have tried to do with our card is that our primary use case is international travel.

Vinay Bagri:

You can, of course, use the product in india. You can do upi transaction. It's a full-fledged bank account or a full-fledged credit card. Either way it's a full-fledged product. But Either way it's a full-fledged product. But it is designed for international usage and the idea is that the card should work as well outside India as it is working in India. Just because you've not told your banker that today you're in India and tomorrow you're going to be in Switzerland doesn't mean the card should not work in Switzerland. So that's the message we're trying to give here that when you use a new card, we have thought through all your journeys that when you get to the airport, typically the first behavior is withdraw from the airport ATM. We advise against it. But that's the costliest ATM. Well, everybody knows that. They're going to use it. Banks are paying hefty money to put their ATMs in the airport. They're going to charge, but it's a you know piece of mind thing. So you get in the airport and withdraw money from the ATM. We've got you covered there. You book a Grab or you book a Lyft or Uber, whatever, depending on which country you are. We've got that covered.

Vinay Bagri:

You go to a hotel and you want to make a booking, a reservation for your hotel, pay for your on your hotel. All you can do that. You want to take a taxi which you want to lease and just want to put a security hold on the taxi. You can do that. Then you, of course, you can walk into any store. You want to book a next connecting flight. All of that and more is possible on the card. And if you want to do an experience also so let's say you are in Paris and you don't want to get into a line to get to Eiffel Tower you can just.

Vinay Bagri:

There has been a traditional way to travel and there is a new way to travel, and we have tried to figure out what are the biggest things people worry about when they travel Right from. Will I get my visa on time? When I go there, will I have to worry about carrying a lot of cash? And how much cash should I carry when I land there? When I'm purchasing anything? Should I always be thinking of conversion charges? Should I think local, think global? And then, finally, will my card work at all? And sure how much you know of cash can you eventually carry? So these are the things we really we thought was um, um, while we have a lot of other features, but these were the most resonating with the latest of the problem sets and, and no better platform than ipl, to kind of bring it out. We experienced it in 2022 also.

Vinay Bagri:

People just loved those ads and, of course, we had a big benefit coming out of it for us. But what happened is the category got created so five years ago, when we first time created or rather, you know, just showed the world that a debit card can become a forex card. At that point in time, majority of the market used to use a typical multi-currency card to travel abroad. And now, actually, it's the other way around, where majority of the market either travels with a credit card or a debit card, and they're fine with it. And for us, you know, to be the pioneer in the field, to be the market leader, the responsibility is always on us to not only innovate on the product but also educate as much as we can, right, so the users can enjoy their travel better, right?

Sanjay Swamy:

No, and kind of a similar thing happened with telecom, right. I remember going country to country you would get a local SIM card and stuff like that, but now you just pay for 30 days roaming and you're done and it works. And it works much better and it's probably a lot more cost effective. The same way you're doing this mindset shift.

Vinay Bagri:

That's a beautiful analogy, sanjay, that if you are not having to change your SIM card, why should you be having to change your card or change your behavior when you're traveling?

Sanjay Swamy:

abroad, right, and from the same perspective, you should be able to use the same card even back here in India as well, right? So how are users looking at it? Do they see it as a travel card only for use abroad, or do they come back and also start using it in India as well? You know, are you seeing that transition happening with people as well? And you said you know things like coins and stuff like that that can be redeemed here.

Vinay Bagri:

So the way it works, sanjay, is that everybody has a different way of looking at the product. So there are a few customers who would look at it as an international travel product. Whenever I'm traveling, I will travel and use it. There's other set of people who think that one is I've saved money on travel. The other is is offering the best interest rate in the market With a product with DCB offers up to 8%, so people take it as a deposit account. Okay, once I finish my travel, let me keep money here. It is earning significantly better than most of the large banks. So that is another behavior. And third, of course, is to use it as a spend account, because you have seen that when is able to provide you a secure account outside India, they can definitely take care of security etc in India.

Vinay Bagri:

So they use it like a budgeting tool and a spend account where you park your monthly expenses and you know that it is significantly less risk here than exposing your whole account for doing day-to-day transactions. So these are three different use cases for people, but if you were to ask me, a number like 60-70% of the users either keep money or use it in India.

Sanjay Swamy:

Got it Great. And with Indians traveling abroad more frequently, I think before we close you could share a few numbers that, uh, you know you have typically at the top of your head of how fast you know international travel is growing, especially for both the student community as well as casual tourists. It was astounding to me to hear some of that actually, so I'll let you close with some of those thoughts here.

Vinay Bagri:

Yeah, so travel, sanjay. You know I'll start from certain themes which are emerging. So when I started my banking career in 2003, I was in personal loans and you would when you would and per personal loan you're required to have a reason for a customer why he's taking personal needs to declare that reason yeah and in 2003-2004, the majority reason was I'm building a house, I'm running short of money, my dad's unwell, somebody else in the family's unwell, sister's getting married or I'm getting married.

Vinay Bagri:

So that used to be like 95% of the loans. The purpose was very, very I would say in the Maslow's hierarchy, very, very at the bottom of the pyramid that I'm going to use it for my shelter and for my living and survival.

Sanjay Swamy:

Roti kapra makaan shadi.

Vinay Bagri:

And it kept changing, changing, changing to today, when almost 40-50% of all personal loans are taken for travel. It is just astounding that typically, what used to happen in that time, and even till 2015, was the first loan of a youngster was to buy a bike or, if you're earning well, buy a car and then buy a house. And then think, today, the first TMI majority of the youngsters are actually shelling out is for experience, it's for travel, so naturally it's caused a massive boom in the market. We offer our product only to those customers who have passport. It is our way of really filtering out serious players.

Vinay Bagri:

You can come in, like our product can be used in India, so you can take a product and use it in India, but in India we don't provide the kind of value, a differentiator, which we provide when you use it abroad. In India it is good, but abroad it is great. So we would actually like to and it's a limited bandwidth, we have to create brilliant products like to, and it's a limited bandwidth, we have to create brilliant products. So we would like the customers who have passport to experiences abroad and then continue to use it in India, right, so hence that's a gate for us, that you need to have a passport to use . Now, when we started the business five years back, hardly five crores Indians had passport and in five years that number has jumped to 10 crores 5 crores Indians had passport and in 5 years that number has jumped to 10 crores.

Vinay Bagri:

So the number of passport getting issued today is at a record level. So that is data point number one why you know travel, and especially international travel, is really going through the roof. Wow.

Vinay Bagri:

Second data point is just the cost and the mathematics around it. So if you book a flight from Bangalore, to. Delhi or Banaras's say Now everybody in India wants to travel to Banaras. Everybody in India wants to go to Srinagar. Kashmir has been off charts for years now, so almost everybody is really keen to go to Kashmir Now. Flight from Bangalore to Kashmir or Bangalore to Banaras is costlier than most of the flights from Bangalore to Banaras, is costlier than most of the flights from Bangalore to the Southeast Asian country.

Prime Venture Partners:

You can go to.

Vinay Bagri:

Thailand. You can go to Dubai. You can go to Bali in Vietnam, in fact, there's a lesser cost. In Malaysia they're running some crazy schemes so you can go there at a much lesser cost than there. So that is another financial logic that people are bound to travel abroad and it is not going to change anytime soon. But there's a rush to travel locally and as the prices are up and in the same price you can travel abroad. So that is another trend which is happening and as a result, sanjay, the number of people who would have stepped out of India in the last 12 months April to March, if you take it will be in excess of 30 million.

Vinay Bagri:

Three crore Indians have travelled abroad and the number of students who are enrolling abroad is also increasing at a breakneck speed. Like you would go back hardly 5 years and say maybe half a million Indians would be every year going and registering abroad. Now that number is 1.2 million. This is expected to find out. Data is going to come out. It is going to be around 1.2-1.3 million students traveling abroad Because India is getting richer. You would have seen the Goldman Sachs report that we will have 100 million people in the middle class and international studies still is an aspirational thing, especially in fields like tech etc. Where there is there is an interest to do either undergrad or postgrad. Majority of the kids from India who travel abroad do postgrad around 60 to 70, but it's also things like you know.

Sanjay Swamy:

During the, when the war started from Ukraine and the Indian students had to be lifted out of it, I was shocked to see how many were studying medicine in Ukraine right and yeah so the the trend is a secular trend, sanjay.

Vinay Bagri:

It is not changing anytime. Too soon More and more Indians will pursue studies abroad. It is growing at 30% pace for the last two years. Similarly, most people will travel at least once abroad and both these trends suits us perfectly. In fact, you know earlier we were always in two minds where it will continue to grow at the pace it is growing post-COVID and we thought maybe it's a revenge travel which will very soon come down, tie down.

Vinay Bagri:

But it has, if anything, accelerated. I mean, if you want to take a visa for Italy, my best advice is plan six months early. Wow, because it is very, very, very difficult. All slots are booked and Terrific Great.

Sanjay Swamy:

So thanks a lot, vinay. Lovely to see these ads on TV and you know I still remember the first time we met and just were brainstorming through a couple of concepts and, you know, to sit here a few years later and see the ads on TV, it's a really nice experience. Maybe we can end with your showing off the latest card that you've got there at the back of your phone.

Vinay Bagri:

Yes, so when I travel abroad, sanjay, thisjay, this is, that's all. So this is my phone to communicate and this is the card to spend. I really don't carry anything else. Best of luck to me if something goes wrong but yeah, I've been. It's been five years now, so nothing is I mean that's you to put yourself in the front line if you want to win the battle. So yeah, this is the the latest card. I am, of course, a big fan of yacht, so so there's also very aspirational, I guess, for tourists.

Sanjay Swamy:

Great uh. So thanks a lot, uh, for joining us and sharing these insights on the ad campaign. I know it's been growing very well and uh may rcb win, of course, yay yes, this year cup is yours, sanjay.

Vinay Bagri:

Yeah, cup is ours.

Sanjay Swamy:

Anyway, to all the non-RCB fans, sorry you can try next year, but you know this year is ours, the team of destiny. Good luck to the team and all the best to in your campaign Cheers.

Prime Venture Partners:

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