STB partners Wise to woo Malaysian travellers with seamless spending

The Singapore Tourism Board (STB) has joined forces with global fintech company Wise in a strategic partnership to boost travel from Malaysia while offering visitors greater financial value.

Combining STB’s destination marketing expertise with Wise’s transparent and fee-free currency exchange and payment solutions, the partnership aims to position Singapore as a hassle-free and attractive destination for Malaysian travellers.

To promote this, STB and Wise will launch digital and social media campaigns highlighting Singapore’s latest attractions and cultural experiences, including Illumination’s Minion Land at Universal Studios Singapore, the Mandai Wildlife Reserve’s Rainforest Wild ASIA, and New Bahru, the city’s newest retail and lifestyle destination. A dedicated landing page also invites new users to sign up for a complimentary Wise card.

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To simplify travel spending, Wise allows users to convert Malaysian ringgit to Singapore dollars at real mid-market exchange rates with no hidden fees, ensuring travellers know exactly what they’re paying for. Users can also hold and switch between over 40 currencies in one account, allowing seamless transactions in Singapore and beyond, across more than 160 countries.

Additionally, the Wise card supports contactless payments via Apple Pay or Google Pay and offers two fee-free ATM withdrawals up to 1,000 MYR per month. Physical cards are also available for offline purchases, while virtual cards offer secure online payment options with the ability to freeze each card after use and manage up to three virtual cards simultaneously.

According to a statement seen by MARKETING-INTERACTIVE, Malaysia was Singapore’s fourth-largest source market last year, with 1.19 million arrivals, marking a 9% increase from 2023. At the same time, Malaysia is Wise’s fastest-growing market in Asia Pacific, reflecting strong demand for convenient cross-border financial services.

Additionally, a recent Wise survey found 96% of Malaysians still rely on traditional money changers abroad, while 65% continue to use local bank cards despite awareness of hidden fees and exchange rate markups that can reach 3%. This partnership seeks to change that by offering modern, transparent financial tools to make travel spending more straightforward.

"Singapore offers an ever-evolving lineup of lifestyle offerings, leisure events and experiences at the doorstep of Malaysian travellers. That is why we have partnered WISE to help them see more, do more and get the most out of every moment in our city. Through this partnership, both seasoned visitors and those who are new to Singapore can look forward to greater value and convenience," said Terrence Voon, executive director, Southeast Asia, STB.

In tandem, Shrawan Saraogi, Singapore CEO and APAC head of expansion at Wise said, "This partnership with the STB demonstrates our shared vision of helping tourists discover Singapore’s rich heritage and world-class attractions, while enhancing the travel experience for Malaysian visitors. It also underscores Wise’s commitment to the region’s vibrant travel and tourism ecosystem, and our mission to deliver the fast, low-cost and transparent services that our customers need."

This collaboration comes on the heels of STB’s recent tie-up with AirAsia MOVE, which aimed to create more seamless travel experiences for visitors from Malaysia and Thailand. As part of that partnership, travellers could access bundled flight, and hotel deals along with curated event and attraction offerings.

STB also recently renewed its strategic partnership with Malaysia Aviation Group (MAG), focusing on joint marketing efforts and exclusive offerings to strengthen Singapore’s appeal among Malaysian travellers, while driving footfall and tourism spending at key destinations across the city.

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