Revolut’s new acquiring solution lets firms install plug-in checkout software or build their own custom features to take card payments online. Businesses can also share links with customers through its platform to receive payments, Revolut said. The service is currently only available in Europe.
Revolut is challenging Stripe and others by streamlining the transaction process with an end to end solution. Revolut Business customers in the UK, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, Poland, Portugal, Spain and Sweden are all able to accept payments online. „The product will roll out to eligible businesses in the EEA in the coming weeks,” according to crowdfundinsider.com.
Revolut says that customers will be charged a 1.3% fee for UK and EEA cards and 2.8% for all others. Business accounts already on paid plans will receive a certain amount that is fee-free each month.
The feature is described as an easy to install plugin that is customizable. As one would expect, businesses can request payments from anyone anywhere in the world, without the need for a website or online store, by using an easy, fast and secure payment link that can be shared with customers.
Businesses may save on currency conversions and accept payments in 14 currencies (EUR, GBP, USD, CAD, CHF, JPY, AUD, HKD, SEK, DKK, NOK, NZD, PLN, ZAR). Funds can be kept in the same currency or converted to another currency at the interbank rate to help save on foreign exchange.
Revolut founder and CEO Nik Storonsky issued the following statement:
“Payments sit at the core of any business so we have crafted a solution that meets not only their business account demands but also their payment acceptance requirements. Companies across Europe know that it’s now essential to their success to be able to do business online. That’s why we introduced a new secure way to accept payments through websites and we have enabled customers without an online presence to get paid fast through secure payment links. Our mission is to democratize acceptance and we are already on the way.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
