EZ-Link puts a bottom advanced into fintech, with the barrage of a new agenda and adaptable app on 7 August 2018, partnering with You Technologies Group and Mastercard.
YouTrip was created by the three companies, to be the world’s aboriginal multi-currency wallet, allowance users pay in added than 150 currencies back arcade online or overseas.
With YouTrip, users do not acquire fees about answerable for bill barter at banks and money changers, as able-bodied as bill about-face and transaction fees about incurred for cross-border payments.
Payments are fabricated through a contactless prepaid Mastercard, issued by EZ-Link and You Technologies Group.
It can be acclimated to transact at added than 30 actor Mastercard merchants worldwide.
Signing up for a YouTrip annual is chargeless and doesn’t crave users to advance any minimum agenda balance.
Users can top up their accounts with SGD application any debit or acclaim cards, and abundance up to $3,000 in anniversary account.
“As users can analysis their antithesis and top up on the go, they will never accept to anguish about active out of banknote back overseas,” YouTrip says.
The accompanying YouTrip app notifies users aloft acknowledged transactions, and allows burning deactivation if the affiliated Mastercard is absent or misplaced.
Even back travellers accept added currencies afterwards a trip, YouTrip will catechumen it at broad barter rates, and acquiesce users to use it to complete payments in Singapore.
Deborah Heng, Country Manager of Mastercard Singapore says, “As the appetence for biking continues to grow, accepting an on-the-go multi-currency acquittal advantage will bigger serve travellers’ needs, and accomplish for a added advantageous biking experience.”
Aside from arcade beyond after added fees, YouTrip’s app additionally lets users adviser alive adopted barter rates.
YouTrip says users can maximise their accumulation by autumn up to 10 called currencies and instantly exchanging them at their adopted rates, with no added fees or mark-ups.
YouTrip additionally appear that it is planning to aggrandize this alternative of currencies in the future.
From today, users can download YouTrip on the App Abundance or Google Play.
The aboriginal 1,000 users who assurance up for a YouTrip agenda will be accustomed with a $20 aboriginal bird benefit aloft their aboriginal top up.
Previously this year, LTA-owned EZ-Link had been furthering its capabilities as a contactless agenda for added than aloof transport.
In January 2018, it partnered with NETS to acquiesce e-payments from all EZ-Link and acknowledgment cards on all NETS terminals in bell-ringer centres.
This move was advised to advice chief citizens and students, who usually do not own acclaim cards, alteration into an ambiance that has been growing appear agenda payments.
Upon launch, it was activated at added than 1,000 stalls beyond over 30 bell-ringer centres, aliment courts, and canteens at tertiary institutions.
More recently, EZ-Link additionally partnered with Wirecard and Cheers to acquaint a band-aid that digitises apart change.
The action was aboriginal mentioned in February by EZ-Link and NTUC, in hopes to “encourage cashless affairs and abate the acceptance of bill countrywide”.
Since 2 August, barter advantageous in banknote at Cheers food accept had the advantage to catechumen their change into EZ-Link agenda balance.
By artlessly allegorical the cashier, the change they should accept will be digitised and topped up into their EZ-Link agenda instead, accomplishing abroad with the aggravation of coins.
Although EZ-Link CEO Nicholas Lee already said the aggregation was “already actual backward into the game” with avant-garde acquittal methods, its accepted attack into multi-currency contactless payments takes it a big bound forward.
To acquisition out added about YouTrip, bang here.
Featured Image Credit: YouTrip
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