In Short:
Wealthsimple, a Canadian money management platform, has launched a global travel eSIM for clients with CAD 200,000+ in assets. This service offers 10GB of data in over 140 countries without roaming fees, valid for a year after activation. Users can easily install it via the app. The move aligns with the growing trend in eSIM adoption for convenient travel connectivity.
Wealthsimple, the Canadian money management platform, has officially launched a new global travel eSIM as part of its lifestyle rewards program targeted at clients possessing CAD 200,000 or more in assets. This innovative service enables eligible users to remain connected across more than 140 countries without incurring roaming fees, the company announced on Thursday.
Roam Like at Home
Clients categorized as Premium and Generation can opt to receive a complimentary 10GB travel eSIM, which remains valid for one calendar year post-activation. Wealthsimple confirmed that the eSIM is easily installable via the Wealthsimple app, granting immediate online access upon arrival at their travel destination. This flexible solution operates across various regions, requiring only a single activation, and can function concurrently with a primary physical SIM or another eSIM.
Trends in eSIM Adoption
Citing research from Juniper Research, Wealthsimple noted that travel eSIM adoption is projected to increase by 440 percent over the next five years, driven by an escalating demand for rapid browsing and streaming while traveling.
In 2024, it was reported that travelers incurred an average expenditure of USD 85 for every 10GB of roaming data. The introduction of Wealthsimple‘s travel eSIM is expected to mitigate these unexpected costs, enabling users to browse, post, and stream without concern.
Dennis Bauer, Co-founder and President of Gigs, stated, “As the first Canadian fintech platform to incorporate a travel eSIM, powered by Gigs, into their rewards program, they have showcased their commitment to offering clients the best rewards in the industry. We anticipate further strengthening our partnership in the coming months and continuing to establish new benchmarks for seamless connectivity for their millions of clients nationwide.”
