YouTrip is a multi-currency mobile wallet that allows the user to pay overseas with no transaction fees. With the YouTrip app, you can exchange and store up to 10 currencies anytime, anywhere. It is operated by You Technologies Group, a regional financial technology startup based in Hong Kong and Singapore.
YouTrip aspires to captivate over 400,000 users in its first year in Thailand. “We are 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,” said co-founder and CEO of YouTrip, Caecilia Chu said.
According to YouTrip, it already has over 400,000 downloads and 10 million transactions in Singapore.
“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 a product like YouTrip, and we are ready to deliver,” Chu added.
The partnership also means that Kasikornhbank’s 11.6 million online customers can access YouTrip via the bank’s K PLUS app. What’s really enticing about the app is that Thai users can now lock down and secure the rates that favor them with no limit.
Meanwhile, Patchara Samalapa, President at Kasikornbank said that the bank believes in the foreign exchange market has benefited from strong outbound tourism growth in Thailand.