Bangkok–(THAI BUSINESS NEWS)–Nov. 06, 2019
YouTrip, the leading Multi-Currency Travel Wallet in Singapore, partners with KASIKORNBANK to launch Multi-Currency Travel Wallet in Thailand. This partnership marks the first-of-its-kind FinTech collaboration in Thailand to allow travellers to pay overseas with the best exchange rates. YouTrip offers travellers the “Truly No Fees” travellers’ payment experience – with no 2.5% exchange fees, no issuance fees, and no annual fees – for payment in over 150 currencies, with better exchange rates than exchange kiosks and other banks. The first 50,000 users with successful transaction completed will also be rewarded a 200 THB bonus in their YouTrip account.
YouTrip offers a mobile application specially crafted for travellers, that comes with a Contactless Prepaid Mastercard. Users can exchange 10 selected currencies conveniently in app anytime before making a purchase, or simply rely on the SmartExchange™ automated currency exchange technology, to pay in over 150 currencies with YouTrip Mastercard. To empower travellers with secure payment protection, YouTrip also provides instant notification for all transactions, and real-time card blocking in case of card loss. YouTrip also allows cash withdrawal from overseas ATM at the same competitive exchange rates, with 24-hour customer service support.
The partnership between YouTrip and KASIKORNBANK is the first-of-its-kind innovation between a leading regional FinTech startup and a leading bank in Thailand. With KASIKORNBANK’s digital banking experience and YouTrip’s travel wallet expertise, the collaboration aims to provide users an intuitive payment experience to pay like a local when travelling overseas. YouTrip and KASIKORNBANK aim to sign up 400,000 users within the first year.
President of KASIKORNBANK, Mr. Patchara Samalapa states “KBank sees strong potentials in YouTrip, which enjoys great success as the leading Multi-Currency Travel Wallet in Singapore. We also believe in foreign exchange market which is benefited by 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. As a “Powered by KBank” project, the seamless integration between YouTrip and K PLUS delivers the best experience for Thai travellers. With real time card blocking and security features built in YouTrip, travellers can enjoy a peace of mind when travelling.”
Ms. Juthasree Kuvinichkul, Founding Partner of YouTrip Thailand, stated “KASIKORNBANK is a leading bank entrusted by local Thai people with expertise in digital banking and currency exchange. With the seamless integration with K Plus, YouTrip delivers not only a “Truly No Fees” travel wallet with competitive exchange rates, but also a secured experience with fully digital sign up and top up processes. With the launch of YouTrip, Thai travelers will now have the most affordable options to pay with the best exchange when overseas.”
“Mastercard and YouTrip share the same desire which is to deliver a seamless and convenient payment solution for travelers no matter where and how often they travel. Through this partnership, Mastercard wants to expand user access to YouTrip’s Mulit-Currency Travel Wallet in markets outside of Singapore and are excited to partner with YouTrip to elevate the experience of Thai travelers.” said Ms. Aileen Chew, Country Manager of Thailand and Myanmar, Mastercard.
YouTrip is available for download today. Users can sign up for a YouTrip account online in less than 3 minutes by linking to an existing K PLUS account, without the need to visit bank branches for document submission. The first 50,000 users with successful transaction completed will be rewarded a 200 THB bonus after their first purchase with YouTrip in December 2019.
- Fintech collaboration between YouTrip, the leading Multi-Currency Travel Wallet in Singapore, and KASIKORNBANK, the leading bank in Thailand, to launch Multi-Currency Travel Wallet in Thailand, aiming to sign up 400,000 users in the first year
- Multi-currency Travel Wallet mobile application to allow users to pay overseas in over 150 currencies with the best exchange rates with a linked Contactless Prepaid Mastercard
- “Truly No Fees” – no 2.5% exchange fees, no issuance fees and no annual fees
- No ATM withdrawal fees until 31 January 2020
- Exchange and lock down exchange rates for 10 selected currencies in YouTrip app anytime, anywhere you want. The 10 currencies are JPY, SGD, HKD, USD, EUR, GBP, AUD, CHF, CAD and THB
- SmartExchange™ technology to automatically exchange currencies for users in case of insufficient funds in the particular currency, with no additional fees
- 24/7 customer support service for users
- Free bonus 200 THB for first 50,000 users after first spending with YouTrip. Bonus will be credited to your YouTrip’s account in December 2019