Visa and Revolut launched a new multi-currency travel debit card that allows Singapore consumers to spend overseas in over 150 currencies at the real exchange rate without hidden fees.
Findings from a YouGov survey commissioned by Visa revealed that Singaporeans are receptive towards neobanks and have expressed strong interest in such a debit product.
Below is a quote attributed to Kunal Chatterjee, Visa Country Manager for Singapore and Brunei.
“Revolut is the first neobank that Visa is partnering in Singapore to issue a multi-currency travel debit card. Based on a research that we conducted on Singaporeans, more than 70% of millennials are keen to sign up for a multi-currency travel product offered by a neobank. In fact, Singaporeans are most concerned about not getting the best exchange rates when they visit a money changer, so it is not surprising that close to 80% of millennials say they would change less money and use this multi travel currency card when travelling. As we progress into a more digital society, consumers expect to lead a digital lifestyle and make payments seamlessly when they travel without worrying about carrying too much cash.”
Re-disseminated by The Asian Banker