Digital Wallet Fund Application – Frequent travelers know the ins and outs of currency exchange, so when the YouTrip multi-currency digital wallet app came along, it was a lifesaver.
The benefit has not been lost on investors, and Utrip recently raised $50 million ($68.4 million) from Lightspeed.
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To thank customers for their support, the platform announced a S$1 flight raffle for six potential winners. YouTrip raised $68 million in funding
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The company then raised $25.5 million ($34.9 million) and $30 million ($41 million) in 2019 and 2021, respectively, according to KrASIA.
Given the global quarantine measures, the Covid-19 pandemic has become a hindrance to the growing company. So they expanded their e-commerce features and thanked customers for their support
Capital firm Lightspeed invested $68.4 million in the company in its latest Series B funding round, indicating investor confidence.
“This new funding round is a testament to our strong capabilities in the B2C and B2B payments space,” said Caecilia Chu, CEO of Utrip.
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Channel News Asia (CNA) notes that digital wallet apps currently process $10 billion ($13.7 billion) a year. We are giving away six flights for $1 to lucky customers
Thus, they promised to work on an intuitive product, promising new coin and wallet features. The company additionally teased the introduction of Google Pay
To celebrate the latest milestone, YouTrip has announced that it will double the winners of its Target: Anywhere with a S$1 gift.
From now until 31 October, anyone can enter the competition for a chance to win a flight ticket to a dream destination of their choice for just S$1.
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With this offer, new users who register using the promo code ‘YTSB10’ before 31 October will get a S$10 credit in their account.
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24 hours ago Iswaran allegedly bought F1 tickets, football and Broadway shows.
2 hours ago The Three Peacocks are leaving Labrador Park after 7 years, offering a farewell buffet at S 39.90 + until January 20.
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1 week ago Mercedes driver Joel Changy pulled into the driveway, showed the middle finger and pushed a stranger’s car. As the world changes rapidly, digital wallets are the new banking norm, allowing customers to multitask on the go.
Banking and financial sectors are undergoing a massive digital transformation Major US banks are moving from touch-based cards to digital wallets to make customers’ lives even easier. The COVID-19 crisis has accelerated the adoption of digital wallets worldwide, and its use is expected to grow by 70% worldwide by 2025.
Services such as Google Pay, Apple Pay, PayPal, Kakao Pay and Samsung Pay are working on new digital products that will push the industry even further. By 2025, mobile commerce is expected to account for nearly 80% of all e-commerce transactions by value. The leading countries using digital wallets are Singapore, China and Hong Kong
In essence, a digital wallet is a digital service that benefits all stakeholders: it helps banks save money on issuing physical cards and provides consumers with a convenient way to manage their money on the go.
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The growth of digital payments around the world has been greatly affected by COVID-19 In particular, NFC payments in the US have seen more growth than in other countries
Many Americans tried mobile payments for the first time during the pandemic. Early adopters of digital payments have been among younger generations, including millennials and Gen Z, but the technology is quickly gaining traction among the general U.S. population.
Although NFC is the most popular form of mobile payment, there are many other mobile wallets that can be used for brick-and-mortar, online and QR code payments.
Apple Pay remains the leading mobile payment platform with 43.9 million users in 2021. Between 2020 and 2025, another 14.4 million users are expected, leaving a wide gap between the competition. Not surprisingly, Apple Pay’s growing market share could increase its dominance over the next few years.
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Starbucks has managed to overtake Google Pay and Samsung Pay in terms of user growth for POS transactions. In 2018, Apple Pay and Starbucks had similar numbers, but Apple Pay managed to take the market lead in the last three years.
Google Pay and Samsung Pay show stability, although their position will remain stable until 2021 and 2022. Research by eMarketer shows that as mobile wallet usage increases, average annual spending will also increase by 20%, and annual spending per user will increase by 23.6% in 2021. And it should increase by 33.3% by 2023
A digital wallet is a payment service that stores a person’s debit and credit card information. In fact, it not only has debit and credit cards, but also loyalty and membership cards for a person to access while shopping.
Some wallets only store debit and credit card information, others are more diverse and allow owners to access P2P transactions and additional financial services.
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With the development of the global mobile payment market, it becomes clear how much the digital wallet can offer to different industries. This increases convenience, speed and security for sellers. Such benefits apply to telecommunications companies, large financial institutions, etc.
Banks and other services that issue prepaid, credit or debit cards to the public will find digital wallets a useful feature or addition to their online banking applications. A digital wallet can offer banks access to personal data that facilitates customer verification and other regulatory functions.
Digital wallets are a great addition to mobile apps in the retail sector and an important part of the e-commerce landscape. The growth of mobile commerce has increased rapidly as mobile platforms have started making purchases through digital wallets. In addition, retailers can use digital wallets to store information about sales, coupons and loyalty cards, or to notify customers when sales start.
With the development of technology, telecommunications companies have become more flexible and responsive to the needs of their customers. Since all these providers provide services for mobile devices, digital wallets have become a better solution to the changing needs of their customers.
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Each digital wallet app is directly associated with a mobile service provider, financial institution or bank, and the main function of each wallet app is to make payments.
The Wallet app is very easy to use. The customer opens the app, uses a PIN code or fingerprint, and selects the card he wants to use. Most digital wallet apps use NFC technology to transfer card information and make purchases
Simplicity of design is essential for any digital wallet as it ensures hassle-free transactions and ease of use. The smoother the experience, the higher the adoption rate for different users The product’s intuitive design makes it easy to navigate your wallet, find the feature you need, and use that feature in your everyday payments.
NFC contact technology plays an important role in ensuring safe communication between smartphones and POS devices. The technology is somewhat similar to Bluetooth, but it has connection time and has three applications in payment: card emulation, reader mode and P2P mode.
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Bluetooth and iBeacon Most smartphones already support iBeacon or Bluetooth technology. iBeacon also allows merchants to send personalized offers and discount coupons in various advertising campaigns when the radio beacon comes into range.
QR Code QR codes have become the norm for various services.In addition, merchants are adding QR codes to every bill to ensure seamless payment.
Another key component of any digital wallet is a high level of security for every transaction. Owners want to know that their money is safe, and you can ensure that by providing P2P encryption, tokenization, and passwords.
Peer-to-peer encryption (P2PE). P2PE is an advanced tool that secures transactions When you swipe your phone through a POS terminal, it starts encrypting the transaction: your transaction is then transmitted and requires authorization. This type of protection should be included in the security features of any digital wallet
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Tokenization This technology uses a reliable data encryption system to ensure the security of every electronic payment. All card information is encrypted and converted into tokens
Passwords Passwords are the most common way to protect personal information A strong password is the key to increasing security and making digital wallets more secure.
The main functions of each program are closely related to its functions. The main components of each digital wallet are:
Creating a complete solution for your business is an effective way to increase your loyal customer base. To make your app more attractive, expand the functionality and add additional features:
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Each of the features listed here can attract more customers to your business and increase their loyalty to your product.
Rewarding and incentivizing customers in new ways leads to greater loyalty, more revenue, and greater overall engagement. Today, when every customer matters, you can get them on your side with an app they’ll be happy to use.
By conducting serious market research, you
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