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S’pore banks vying with fintech players such as YouTrip for the travel dollar
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Multi-currency wallets are becoming more popular because they convert Singapore dollars into various foreign currencies at minimal to zero transaction fees.
PHOTO: YOUTRIP
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SINGAPORE - The competition to be Singapore travellers’ multi-currency wallet of choice is heating up, with local banks vying for a piece of the space closely associated with fintech players such as YouTrip, Revolut and Wise.
The pie is growing as outbound travel in Singapore continues its trajectory of recovery in 2022 and 2023, close to the pre-pandemic peak of 10.7 million departures in 2019, according to data from the Department of Statistics.
