UK FinTech giant Revolut is to use Stripe, a financial infrastructure platform for businesses, to support payments in the UK and Europe and accelerate its expansion into new markets.
Founded in 2015, Revolut has become one of Europe’s great FinTech success stories. After launching in the UK with money transfer and exchange services, the company now offers dozens of products that are aimed at improving money management for 18 million customers and 500,000 businesses in more than 200 countries and territories.
The FinTech giant recently revealed its plans to launch in five new countries. Its money transfer app will soon be available in Sri Lanka, Chile, Ecuador, Azerbaijan and Oman. Users in these countries will be able to transfer money to over 50 countries.
Revolut is planning to launch in dozens more countries by the end of the year, with the goal set at up to 90 countries.
The Revolut app enables users to send and receive money at the tap of a button, with no fee between customers and a 1% fee to non-Revolut bank accounts. There will be a minimum $1 fee for customers in the new five countries.
David Tirado, vice president of business development at Revolut, said, “Revolut builds seamless solutions for its customers. That means access to quick and easy payments and our collaboration with Stripe facilitates that. We share a common vision and are excited to collaborate across multiple areas, from leveraging Stripe’s infrastructure to accelerate our global expansion, to exploring innovative new products for Revolut’s more than 18 million customers.”
Copyright © 2022 FinTech Global
