Revolut makes remittances a priority as it enters the U.S.

Revolut’s 2020 launch in the U.S. was by its own admission quiet, but it has ramped up quickly by targeting pandemic recovery opportunities such as cross-border payments and travel, writes American Banker.

The London-based Revolut in the past two months has launched products designed to tap the U.S.-Mexico remittance corridor, support for crypto withdrawals, and payments for flights and hotels. There’s a focus on cross-border payments, where Revolut contends it can find new users by offering lower fees and digital rails, despite a highly competitive U.S. market focused on the same services.

Revolut earlier this month launched U.S.-Mexico remittances, which reached an all-time high earlier this year, totaling $4.5 billion in May alone, according to BBVA Research, adding that was a 31% jump from the same month in 2020.