YouTrip, Singapore’s first multi-currency mobile wallet, will be establishing an innovation lab in the country to fast-track its technology capabilities and product development to capture the rise of the multi-currency payments landscape.
In this next phase of its business growth, YouTrip will be doubling its local workforce with over 50 new hires in Singapore across engineering and product development by 2022. The new positions will add on to YouTrip’s current headcount of close to 100 across all its locations.
YouTrip’s expanded workforce in the innovation lab will be crucial in driving the development of a new suite of multi-currency products and features to serve the changing needs of its users.
This includes YouTrip Business, a new multi-currency corporate credit card aimed at helping companies save money and time on cross-border payments. Compared to the consumer product, this new business card promises higher spending limits while transacting at the best exchange rates in more than 150 currencies, with credit terms offered to selected business account users.
YouTrip Business also enables companies to issue multi-currency cards to employees, and streamlines all expenses in one platform.
YouTrip will also be investing in a brand refresh to elevate consumers’ multi-currency spending. This brand rehaul will reflect the fintech startup’s transformation from a travel wallet to a broader digital payments app that drives its mission of simplifying multi-currency spending.
Beyond debuting a new brand identity, the YouTrip app will also be redesigned with new features such as a virtual card, an interactive exchange rates dashboard, YouTrip exclusive deals, and the ability to hold more popular currencies in their wallet – all aimed at delivering seamless payments in foreign currency.
Both products are in its development stage and scheduled to be launched in early 2022.
Caecilia Chu, co-founder and CEO, YouTrip, said: “Despite the travel standstill, we’ve continued to register a significant growth in overseas online spending, further underscoring the importance of cross-border payments for consumers and businesses. With this shift in spending, our advancement in innovation to offer a wider suite of multi-currency is timely, and drives our goal of elevating the cross-border payment experience for our users in Singapore and the region.”
Aligned with Singapore’s efforts to nurture future cohorts of fintech talents, YouTrip is also launching a Software Engineering Graduate Programme. This two-year training initiative will provide entry-level engineers with the core knowledge, mentorship and job rotations to master domain and technical expertise valuable for today’s fintech landscape.