YouTrip Guarantees up to S$888 Cashback When Users Send an E-hongbao This Chinese New Year

SINGAPORE, Feb. 9, 2021 /PRNewswire/ -- YouTrip, Singapore's leading multi-currency mobile wallet unveils a Chinese New Year exclusive that guarantees up to S$888 cashback when users send an e-hongbao through YouTrip's newly released peer-to-peer transfer feature. This feature allows users to send money safely and instantly in any of the 10^[1] wallet currencies during this pandemic-stricken Chinese New Year,  which includes SGD, USD, GBP and AUD.

From 9 to 26 February 2021, users will be rewarded with a randomised cashback reward ranging from S$0.80 to S$888 for each of their first three transfers with no minimum amount required. This feature release is also in line with the Monetary Authority of Singapore's efforts to encourage e-gifting during this festive period to reduce queues and support the environment.

Caecilia Chu, Co-Founder and CEO of YouTrip shares: "With our latest feature, we're encouraged that we're able to connect our users with their family and friends who might not be physically around to celebrate the festivities. This Chinese New Year gave YouTrip a chance to tap on our payment solution expertise to keep our users safe while celebrating with an extra perk. Apart from gifting e-hongbaos, we're looking forward to how our users will benefit from this feature for their online purchases, as well as travel spending when travel rebounds."

Sending an e-hongbao to another YouTrip user only requires 3 steps:

1)    Tap on "Send" button on the app home screen
2)    Search for a friend on YouTrip by name or phone number
3)    Select the currency and enter the amount the user wants to send

Beyond e-gifting, YouTrip recognises the gap that peer-to-peer transfers will fill for foreign transaction payment as a group, such as overseas e-commerce group buying or group travels. In a recent survey conducted by YouTrip, 63% found it a hassle to split a bill in foreign currencies and 98% are concerned about losing out in exchange rates when making or collecting payment as a group. This new transfer feature aims to resolve this pain point by making foreign currency transfers within peers easy while providing a preferential exchange rate.

YouTrip will continue to introduce enhancements to this feature such as a split bill function to further help users organise and manage foreign currency payments as a group.

ABOUT YOUTRIP

YouTrip is a regional financial technology startup, dedicated to creating the best mobile financial services for travellers across Southeast Asia by simplifying overseas spending and creating a fuss-free travel experience. YouTrip first launched in Singapore in 2018 and subsequently in Thailand in 2019.

For more information, please visit www.you.co