Alternative Payment Solution: Revolut
Revolut is an app-based payment solution that allows users to make domestic and international fund transfers to both Revolut and non-Revolut users. It also allows users to make online and in-store payments, as well as cash withdrawals at ATMs using Visa- and Mastercard-branded Revolut prepaid cards.
In addition, Revolut allows users to apply for personal loans through the app. Successful applicants receive the money instantly in their Revolut account. Credit is provided by P2P lending company Lending Works. Revolut is not a lender, and acts as a representative of Lending Works.
The company is further expanding its product portfolio, and applied for a banking license in November 2017. In December 2017, Revolut introduced a new feature allowing users to buy and hold cryptocurrencies including bitcoin, litecoin, and ethereum within the app. Users can also transfer these digital currencies to other Revolut users. Revolut allows users to top-up their Revolut account in nine currencies using multiple payment methods, including bank transfers; Mastercard, Maestro, and Visa debit and credit cards; and Apple Pay and Android Pay. Revolut also acts as an insurance intermediary offering travel and device insurance products.
Launched in 2015 in the UK, Revolut is now available in 32 countries. It is backed by well- known investors including Index Ventures, Balderton Capital, and Ribbit Capital.
The report provides information and insights into alternative payment solution Revolut, including -
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook