Competitor Profile: 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 December 2017, Revolut introduced a new feature allowing users to buy and hold Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple cryptocurrencies within the app. Users can also transfer these digital currencies to other Revolut users.
Revolut allows users to top-up their Revolut account in 15 currencies using multiple payment methods, including bank transfers; Mastercard, Maestro, and Visa debit and credit cards; and payment solutions like Apple Pay and Google 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 33 countries. It is backed by well-known investors including Index Ventures, Balderton Capital, and Ribbit Capital. The company received a European banking license in December 2018 and launched its own current account.
The report provides information and insights into Revolut including -
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