Revolut has launched a new service allowing businesses in 13 European countries to accept online card payments, expanding its product range and taking on established rivals in a high-growth area. The new product pits Revolut against fast-growing incumbent digital payment providers Stripe and Adyen.
British-based Revolut has attracted more than 13 million retail customers since its launch in 2015 with a range of money management tools, including a debit card connected to an app that allows users to spend different currencies at the interbank exchange rate with low fees. Its new service will enable businesses to accept card payments online directly into their accounts, Revolut said on Friday. It will cost 1.3% for United Kingdom and European Economic Area cards and 2.8% for all other cards. Businesses can accept payments in 14 currencies and funds can be converted to another currency at the interbank rate, saving money on foreign exchange, Revolut said.