Travel Wallet offers a digital travel wallet application that enables users to load and manage multiple currencies on a single card, eliminating foreign exchange fees and allowing for instant refunds of unused balances. The platform supports transactions in 46 currencies and provides contactless payment options, streamlining the payment process for travelers while reducing costs associated with traditional credit card usage.
Funding
$45.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Travelers often face challenges with foreign exchange fees, the inconvenience of managing multiple currencies, and the risk of losing unused balances when using traditional payment methods abroad. These issues can lead to increased costs and a less seamless payment experience during international travel.
Solution
Travel Wallet offers a digital travel wallet and prepaid card that allows users to load and manage up to 46 different currencies on a single platform, eliminating foreign exchange fees on select currencies and reducing international transaction costs. Users can exchange currencies at real-time exchange rates, spend globally at Visa merchants both online and offline, and withdraw local currency from ATMs. The platform also supports contactless payments for public transportation in major cities and enables instant refunds of unused balances back to the user's account.
Target Audience
The primary target audience includes international travelers seeking a convenient, cost-effective, and secure way to manage and spend money in multiple currencies, as well as individuals who frequently make purchases from overseas merchants.
Features
- Supports 46 currencies, allowing users to load and manage multiple currencies on a single card.
- Offers 0% exchange fee for major currencies, including USD, JPY, and EUR.
- Waives foreign transaction fees for all foreign currency payments.
- Enables payments at over 100 million Visa merchants worldwide, both online and offline.
- Supports contactless payments for public transportation in major cities.
- Allows users to freely exchange currencies, refund to KRW, and transfer funds between friends.
- Provides an N-bread payment feature for easy splitting of expenses among travelers.
- Offers a card activation function for managing the card securely within the app.
- Provides the ability to recharge Korean Won and use the card for payments within Korea.