Revolut is in the early stages of developing a points-based credit card, putting it in direct competition with incumbents such as American Express, according to sifted.eu.
It’s the latest in a slew of new products developed by the UK fintech, which has over 50m customers globally and now offers everything from stocks and shares and crypto, to pet insurance.
The rewards-based credit card would use Revolut’s own points system, named RevPoints, which it launched in July last year. Revolut users currently earn RevPoints by making purchases on their debit cards. Two sources familiar with the plans say Revolut intends to build a set of points-based credit cards for each of its subscription tiers.
It’s not clear yet how Revolut will seek to compete with its competitors. Revpoints can currently be used to purchase gift cards for brands such as Apple and Amazon, and are also exchangeable 1:1 with popular airline miles programmes.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
