YouTrip, Singapore’s Multi-Currency Travel Wallet, Launches in Thailandby Fintechnews Singapore November 6, 2019
YouTrip, Singapore’s multi-currency travel wallet, has officially launched for consumers in Thailand. YouTrip’s launch into Thailand was made possible through a partnership with one of Thailand’s leading banks, Kasikornbank (Kbank).
According to their press release, Kbank’s 11.6 million online customers can now register for YouTrip in less than 3 minutes via their K PLUS app, and will be able to enjoy zero transaction fees across over 150 currencies as they travel globally. YouTrip allows Thai travellers to lock-down and secure their preferred rate via the in-app exchange rate feature for 10 popular currencies, with no daily limit on how much money can be exchanged.
Thailand serves as YouTrip’s first overseas market for consumers outside Singapore. YouTrip aims to sign up over 400,000 users within its first year of launch in Thailand. In Singapore, the fintech claims to have already amassed over 400,000 downloads and over 10 million transactions to date, following YouTrip’s record US$25.5 million pre-series A fundraise in May 2019, the largest pre-series A raise for a Southeast Asia-based fintech startup.
Caecilia Chu, Co-Founder and CEO of YouTrip, said:
“We are really excited to be launching in a new market, and cannot wait to replicate the same level of success in Thailand that we’ve enjoyed in Singapore over the past year. We see great synergies between Kasikornbank and YouTrip, and are delighted that this partnership is the first bank-fintech partnership of its kind in Thailand. This proves that the Thai market is ready for a product like YouTrip, and we are ready to deliver.”
President of Kasikornbank, Mr. Patchara Samalapa, states
“KBank sees strong potential in YouTrip, which enjoys great success as the leading Multi-Currency Travel Wallet in Singapore. We also believe in the foreign exchange market which has benefited from the strong outbound tourism growth in Thailand, due to strong Baht, travel promotions, new flight routes openings, etc. The successful partnership with YouTrip to co-develop YouTrip mobile application and contactless Mastercard, is further supported by KBank’s strong operational platform.”