YouTrip Boosts Digital Wallet Stock and Flow Limits, Paving Way For A Smoother and More Seamless Payment Experience

SINGAPORE - Media OutReach Newswire - 3 January 2024 - YouTrip, Singapore’s favourite multi-currency e-wallet, today announced the increased stock and flow cap limits on its digital wallet and new security enhancements to empower users with greater convenience, flexibility and security as they make cross-border transactions.

Starting today, YouTrip users can hold up to S$20,000 in their wallets at any point in time and enjoy an annual spending limit of S$100,000, compared to the previous caps at S$5,000 and S$30,000 respectively. YouTrip is the first Major Payment Institution to raise the limits, paving the way for a smoother and more rewarding payment experience.

Caecilia Chu, CEO and Co-Founder of YouTrip, said: “YouTrip is passionate about making cross-border payments smarter, easier and more rewarding. Previously, users expressed their desire for a higher flow cap limit to utilise their YouTrip wallet for purchases such as flight tickets, hotel accommodation and family expenses. Now with the enhanced limits, it addresses a key pain point for our users who were previously curtailed by the lower caps. This revision to the wallet limits is a game-changer, allowing us to offer unparalleled convenience and open doors to a world of unhindered payment experience to our users.”

Ariel Yeo, a YouTrip user, shared: “As someone who travels frequently with friends and family, I am often the planner and accountant of the trips. Before the increased limits, I had to constantly juggle multiple payments using different credit cards for larger expenses like flights and hotels. The experience was rather troublesome as I had to keep track of the expenses on various cards while being subjected to less favourable exchange rates and missing out on YouTrip’s cashback rewards. Now with the increased e-wallet cap and spending limits, I can easily handle the booking of flights and group expenses – with everyone benefitting from the convenience and savings YouTrip offers!”

Fortified Security for Greater Peace of Mind
Alongside the increased wallet limits, YouTrip remains steadfast in its commitment to user security with a slew of new anti-scam prevention measures introduced to further protect users against fraudulent and unauthorised activities.

In addition to the existing Fraud Monitoring System and One-Lock Switch feature that provide users with the ability to lock and contain further exposure and threats within the compromised card, YouTrip rolls out:
1. Dedicated Fraud Reporting Email where users who suspect suspicious activities can report and receive support from the 24/7 customer service team by emailing in to fraud-reporting@you.co.
2. Kill Switch Activation allows users to immediately suspend their entire account that might have been compromised by calling +65 6904 9334. This strong defence mechanism effectively stops* all new transactions and logins for all parties, including the user.

• *Kill Switch should be utilised as a last resort as it suspends the entire account including both physical and virtual cards, resulting in all new transactions, top-ups, and receiving of money via YouTrip Send being declined. After asserting the account is safe, re-activation can be done by calling the same hotline.
  
• In the event of lost or misplaced cards, users are recommended to first engage the self-managed One-Lock Switch function, allowing them to continue having access to the account for top-ups, YouTrip Send transfers, and making payments through virtual cards.

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About YouTrip

YouTrip is a Southeast Asian financial technology company dedicated to creating the next-generation of digital financial services for consumers and businesses. In 2018, it launched the region’s first and leading multi-currency payment app.

With its consumer and corporate products, YouTrip and YouBiz, the company empowers users with the most affordable and convenient financial innovations. YouTrip is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS), and owns principal memberships and issuing licences with two of the largest card schemes, MasterCard and Visa. For more information, please visit www.you.co.

source: YouTrip