YouTrip is a multi-currency mobile wallet with a prepaid Mastercard® that offers zero transaction fees across 150+ currencies at wholesale exchange rates and also allows for the exchange and storage of 10 selected currencies.

As a travel product, the business was severely affected when Covid hits in 2019. Product team's mission was to explore other use cases for our product to sustain our business until the pandemic is over.

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At first, we had a discussion with the Singapore and Thailand team to understand the local situation to understand the people's behaviour. As we expected, people couldn't do much and was forced to stay home due to the lockdown. We were eyeing on E-commerce as it was one of the few way people can entertain themselves as well as getting their supply.

Validating our assumption with Data

With the opportunity we discovered, we worked with the Data team to study the transaction data and here are some of the insights we found.

41.1%

of unique users who had made at least 1 transaction never performed eCommerce transactions

16%

of the total transaction are eCommerce transactions in recent 180 days

21%

of transaction amount is composed of E-commerce transactions

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The amount/revenue per E-commerce transaction is relatively higher than POS transaction

The most spent merchants are online marketplace such as Taobao, Amazon, Alibaba, shopee etc.

Talking to users

After the quantitative insights has initially proven our assumption, we performed a user study to:

• Study user’s behaviour, preferences, hesitation, expectations while online shopping
• Gather user feedback on boosting online purchase usage
• Understand what factors would motivate them to be engaging with our product upon online purchase

We recruited

• 4 male and 4 Female users
• Aged between 25-35
• 4 of them performed at least 1 transaction recently but not E-commerce transaction
• Another 4 who had performed E-commerce transaction in recent 1 month

Discovery Questions

Expectation of the existing app/Product (5-10 mins)

• Tell me about your experience so far with YouTrip
• What do you use it for? Why?
• Is it up to your expectation? Why?
• What’s favourite/least favoUrite part about using the app? Why?
• Is this something you felt was necessary?

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About online purchase expectation (15 mins)

• What’s your purpose when shopping online?
• Which website do you usually shop from?
• When you shop online, how would you evaluate the value when it’s in foreign currency?
• When shopping online, have you encountered any issues with OTP or 3Ds verification?
• When shopping online, what card are you using, and why?
• Are you aware you can pay with YouTrip card? Why and why not?
• What makes you not using YouTrip for online transactions after being aware of that?
• What would help to smoothen your online purchase journey?

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Post usability test question (3 mins)

• Due to the spread of coronavirus, would it affect your next trip? Can you share with us more details about that, like when, where and why?
• Do you have further suggestions on YouTrip?
• Do you have any questions for me?

Selected Users Quotes

“I applied the card 3 years ago,but didn’t use it much as I don’t know how it works”

By Shannon Lim

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“Google iCloud service charges me in USD. It reminds me to use YouTrip card”

By Luo Baoxin Terence

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“I already have other cards with better rewards”

By Wee Chin Hui

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“Younger people just value convenience more”

By Grace Ho

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User Study Insights

• Many users are financial laymen, 5 / 8 users don't know how YouTrip card works
• Some users use YouTrip card to pay recurring bills in foreign currency, e.g. Google iCloud Service
• Many users didn’t aware the merchant they shop with can pay in store origin currency, they could potentially save more by using YouTrip card
• Young users may choose other payment method over YouTrip because others provide better convenience
• Potential on business traveller, flight attendant, overseas student and expat market
• Users have no motivation to use YouTrip in SG because local cards provide more benefits/rewards.
• Users don’t go out as much as usual because of the Coronavirus. Users started to buy groceries and essentials from online stores such as RedMart and Shopee.
• Some online merchants don’t accept credit cards as a payment method. Instead, they requested customers to pay via bank transfer in order to avoid V.A.T. and Credit card service charge

Short Terms

• Send push notifications to users who’ve never performed E-commerce transaction
• Display card number, expiry date and CVC in app so user can shop whenever they want, even without the physical card
• Provide extra options so users don’t need to fill in card details when checking out from the online store

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Long Terms

Progressive onboarding

• Motivate user to make the first transaction (POS/Online)
• Educate users on how it works
• Boost non-wallet currency transaction
• Increase total no. of foreign currency transaction

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Editorial Content

Access to editorial content allows our users to be more engaged with our brand product by showing them tips and promotions that are happening.

It would also increase the overall transaction volume and MAU.