EZ-Link Pte Ltd, Mastercard and You Technologies Group have launched, YouTrip, the first mobile wallet that allows users to pay in more than 150 currencies when travelling abroad without currency conversion or transaction fees, today.
Singapore is the first market that You Technologies Group have chosen to launch their mobile wallet, which could disrupt the way we exchange foreign currencies when we travel.
Chief Executive Officer of You Technologies Group, Mr Arthur Mak said:
“You Technologies Group has chosen Singapore to be its first market to launch for its vibrant fintech ecosystem and Singaporeans readiness to adopt innovative solutions. Collaborating with EZ-Link was an obvious choice as we aim to create the most reliable and simplest way for people to manage their global spending.”
Whether you are a frequent traveller or someone who likes to keep currencies when they are at their best rate, YouTrip is a handy mobile wallet you need.
With the YouTrip mobile wallet app, you can conveniently monitor live exchange rates wherever you are and exchange currencies for your trip instantly without having to queue up at the moneychangers.
Paired with the contactless Mastercard issued by EZ-Link, you can easily tap and pay in the currency you exchanged when shopping overseas.
You can also store up to 10 selected currencies such as SGD, HKD, JPY, AUD, NZD, EUR, GBP, CHF, USD and SEK, on your YouTrip app at your preferred rates with no additional fees or mark-ups.
Leftover currencies too can be easily converted back to SGD at wholesale exchange rates at no extra fees as well.
Where security is a concern, every transaction is tracked by the app, so if you noticed any unusual activity or if you lost your YouTrip Mastercard, you can instantly deactivate the card.
There is no minimum account balance or card fees needed when signing up for a YouTrip account. Topping up your YouTrip mobile wallet can be done using any debit or credit card for free. Each account can store up to SGD3,000.
In conjunction with the launch of YouTrip, the Singapore-based Fintech firm will be giving away an early bird bonus of $20 in credit to the first 1,000 users who complete their first successful top-up.