YouBiz, a leading multicurrency corporate card and spend management platform by YouTrip, has announced a strategic partnership with TikTok for Business to support the burgeoning e-commerce sector in Singapore. This collaboration aims to enhance financial and marketing solutions for local businesses, enabling them to optimise their advertising efforts and streamline financial operations.
Singapore’s e-commerce market is rapidly expanding, with gross merchandise value (GMV) rising from US$8b in 2023 to US$9b in 2024, according to a report by Google, Temasek, and Bain & Company. Video commerce now accounts for 20% of e-commerce GMV, highlighting the dynamic nature of the industry.
The partnership introduces an exclusive cashback scheme, providing new TikTok advertisers with up to US$100 in ad credits to refine their campaigns. Additionally, businesses can earn up to 3% cashback on TikTok ad spend through YouBiz, enhancing return on investment and freeing up capital for further growth. Beyond TikTok, YouBiz offers unlimited 1% cashback on all expenditures.
Benedict Khong, General Manager of YouBiz, stated, “This partnership with TikTok for Business is designed to bridge the gap by seamlessly integrating YouBiz’s innovative financial solutions with TikTok’s dynamic advertising platform.”
The collaboration was unveiled at an event featuring a panel discussion on leveraging digital platforms for effective marketing. Genecia Alluora, co-founder of local skincare brand Alluora, shared insights on the benefits of financial tools in reducing foreign exchange fees and earning cashback.
Through this partnership, YouBiz and TikTok for Business are committed to empowering e-commerce businesses in Singapore, driving growth and innovation in the digital economy.
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