Key takeaways
- Klook faced increased FX risk and operational challenges with a rising volume of cross-border and cross-currency payments
- The J.P. Morgan multi-currency trading solution provides Klook with real-time access to competitive FX rates, automated booking and hedging and the ability to pay out to merchants in over 120 currencies from a single set of accounts
- Klook can now scale confidently into new markets, optimize liquidity and deliver a smooth, intuitive payment experience
About
Klook is a leading pan-regional experiences platform, connecting millions of travelers with local attractions, tours and services around the world. Klook’s mobile-first strategy empowers travelers to discover, book and pay for experiences seamlessly, with a focus on convenience and personalization. Klook is committed to removing barriers for travelers and merchants alike, enabling frictionless cross-border payments and supporting the growth of local tourism economies.
The challenge
Klook’s rapid global expansion brought greater volumes and complexities into managing cross-border and cross-currency payments. Travelers from diverse markets expect to pay in their local currency, but this exposes Klook to greater foreign exchange (FX) risk and operational challenges in managing treasury infrastructure.
Balancing growth, risk and a more seamless user experience for travelers required a robust, scalable solution.
“J.P. Morgan is proud to be the first bank to be integrated on Klook’s FX platform. Our tailored API-powered solutions give Klook the flexibility to manage risk while maintaining a smooth user experience.”
Manish Patel
Head of APAC Corporate Sales, J.P. Morgan Payments
The solution
API-powered FX solutions from J.P. Morgan Payments were fully integrated with the Klook’s proprietary FX platform. This delivered:
- Automatic, real-time access to competitive FX rates through Klook’s own trading platform by leveraging the multi-currency pricing solution from J.P. Morgan Payments
- Automated FX booking and hedging—Klook is now able to hold FX rates for up to 24 hours,1 enabling transaction-level hedging and risk management
- Payouts to overseas merchants in over 120 currencies, all from a single set of accounts through multi-currency notional pooling, reducing the need for additional FX transactions2
“The J.P. Morgan multi-currency trading solution has completely transformed how we manage FX. Our travelers enjoy great rates with the freedom to pay in their preferred currency and payment method.”
Lucia Ma
Group Treasurer, Klook
The results
J.P. Morgan Payments supports tailored business solutions across the Asia Pacific. With access to our global payments network and advanced FX infrastructure, Klook now provides:
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Instant multi-currency payments for millions of travelers and thousands of merchants worldwide
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Streamlined treasury operations that reduce manual intervention and improve liquidity management
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Enhanced customer experience with transparent FX rates and localized payment options while merchants receive fast, efficient payouts
By collaborating with J.P. Morgan Payments, Klook’s newly transformed treasury infrastructure prioritizes prudent FX risk management and operational excellence. This enables Klook to deliver competitive pricing, faster merchant reconciliation and more streamlined cross-currency payments management, supporting their business growth and commitment to travel and tourism.
“With automated FX booking and hedging, and effective cross-currency liquidity management, Klook can pay out to overseas merchants in over 120 currencies — all from a single set of accounts.”
Sunny Lau
Hong Kong HQ Corporate Sales, J.P. Morgan Payments
Discover how our API-powered Cross-Currency Solutions can help streamline your treasury operations.
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