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Marketing Featured Southeast Asia

Multicurrency e-wallet YouTrip to undergo brand refresh in 2022

Singapore – Singapore’s multicurrency e-wallet YouTrip revealed in a press announcement that it will be undergoing a brand rehaul, slated for early 2022. 

The advanced announcement comes as the fintech unveils its plans to establish an innovation lab in Singapore to fast-track its technology capabilities and product development. The fintech shared that the new lab will see its workforce double by 2022 which will be crucial in driving the development of a new suite of multicurrency products including the new brand identity. 

YouTrip’s brand proposition is to offer the best mobile financial services by simplifying foreign currency payments and offering the best exchange rates. With the new branding, the fintech aims to reflect its transformation from a travel wallet to a broader digital payments app that drives its mission of simplifying multicurrency spending. 

Together with a new brand debut, YouTrip will also be redesigned with new features such as a virtual card, an interactive exchange rates dashboard, and also YouTrip exclusive deals, as well as the ability to hold more popular currencies in the wallet.

YouTrip also revealed the launch of another product YouTrip Business, likewise to be released in early 2022. 

YouTrip Business is a new multicurrency corporate credit card aimed at helping companies of all sizes save money and time on cross-border payments. Compared to the consumer product, the new business card promises higher spending limits while transacting at the best exchange rates in over currencies, with credit terms offered to selected business account users. YouTrip Business will also enable companies to issue multicurrency cards to employees. 

Caecilia Chu, co-founder and CEO of YouTrip, commented that despite the travel standstill, there has been continued significant growth in overseas online spending which underscores the importance of cross-border payments for consumers and businesses.

According to YouTrip’s own cross-border e-commerce study for 2021, there has been an 84% year-on-year increase in online overseas purchases by Singaporean users from the period of July 2020 to June 2021.

Chu said, “With this shift in spending, our advancement in innovation to offer a wider suite of multicurrency is timely, and drives our goal of elevating the cross-border payment experience for our users in Singapore and the region. We are incredibly excited to embark on this next phase of our business growth and Singapore’s developed tech ecosystem provides the conducive conditions to propel this forward.”

She adds, “Singapore is a special place to us, being the first market where we introduced YouTrip to the world…we look forward to driving the next generation of cross-border payment innovations, and to help build a stronger pipeline of talents that will fortify Singapore’s position as a global fintech hub.”

Categories
Marketing Featured Southeast Asia

Multicurrency e-wallet YouTrip stays top-of-mind via informative TikTok’s

Singapore – As Singapore’s multi-currency mobile wallet YouTrip reaches its four-month mark in the short video platform TikTok, it shared how it maxes out the platform’s massive userbase to stay present in consumers’ minds. 

YouTrip established its TikTok account in June of this year, and as of current, it has a total of 32.5k followers and has garnered 691.3k likes across its videos.

YouTrip’s service comes with a prepaid Mastercard and enables users to pay in over 150 currencies with no fees. Branded as a “travel” wallet, its TikTok videos circle lifestyle content, such as tips on how to enjoy international destinations such as Spain, a list of the “coolest” Apple shops, and how one can get a taste of travel through whipping up different versions of super grain bowls. 

The brand revealed that it uses a two-pronged approach to leverage its presence in TikTok: making informative content and staying relevant to trends.

For valuable content, it adopted a strategy of adapting original blog articles that had performed well to the TikTok format. During the firm’s content planning process, it identified e-commerce shopping guides and hotel reviews as such. One of its most successful TikTok videos featured a guide to get the “Cheapest Nintendo Switch,” garnering over 119k views to date.

@youtripsg

If you know someone looking to buy a Nintendo Switch, share this with them! ???? #nintendoswitch #gaming #videogames #youtripsg #foryoupage #fyp

♬ original sound – YouTrip SG – YouTrip SG

In terms of staying within the wave of trends, YouTrip identified that it is vital to be the first-mover in driving reactive content on trending topics, audios, or hashtags.

Hopping onto the challenges bandwagon, YouTrip took an informative spin on the challenge featuring the trending song Kings and Queens by American singer Ava Max. In such challenge, users showcased culture and traditional costumes. YouTrip took the opportunity to emphasize its branding on travel and culture, and published a version featuring real queens from around the world. The rendition garnered over two million views and 12.8k followers in two weeks.

The brand shared that by driving travel content, it also aims to strengthen its brand positioning to remain top-of-mind for when travel rebounds.

Head of Marketing Jeremy Lim said that curating meaningful content that resonates with users has been the core of YouTrip’s marketing strategies.

“Our venture into TikTok allows us to tap into our creativity to find new ways to connect with our users. We encourage brands to consider including TikTok in their marketing mix as well if they aim to establish themselves as relatable and reliable,” he said.

Chew Wee Ng, head of SEA business marketing at TikTok also commented, “TikTok is about embracing the creative, positive, and real moments that make our community so special, with solutions for businesses to connect and grow with our wonderfully expressive community.”

Ng also emphasized that with the right content strategy and a touch of authenticity, any brand can find success on the global stage with TikTok.

“YouTrip’s rapid growth on the platform is a prime example. As one of the first movers, they’ve incorporated TikTok early into their marketing mix and are now reaping its successes through a customized content strategy, collaboration with the TikTok community, and growing with a global audience,” said Ng.