Revolut, a renowned global financial superapp, with a customer base exceeding 30m worldwide, has made a game-changing announcement.
The company is enabling Apple’s Tap to Pay on iPhone, a contactless payment acceptance technology, for its Revolut Pro and Revolut Business customers in the UK. This innovation is set to revolutionise the way businesses handle transactions, optimising the payment process for both businesses and their customers.
Revolut, launched in 2015, aims to disrupt traditional banking by offering customers a more efficient, digital way of managing their money. It has rapidly grown into a globally recognised FinTech company, offering various financial services, from everyday spending and budgeting tools to cryptocurrency and stock trading.
The new product, Tap to Pay on iPhone, integrates seamlessly with the Revolut iOS app for Pro account holders (which include sole proprietors and small business owners) and the Revolut Business iOS app for larger businesses. With this feature, in-person, contactless payments can be accepted simply with an iPhone, eliminating the need for additional terminals or hardware.
Payments can be accepted by merely holding a contactless card or payment device near the merchant’s iPhone until the transaction is complete. The technology uses the in-built features of iPhone, ensuring that both business and customer data remain private and secure.
To use Tap to Pay on iPhone, Revolut Pro and Business customers need to operate within the Revolut app or the Revolut Business app. New customers can download these apps from the Apple App Store, sign up for a Revolut Pro or Revolut Business account, and start accepting contactless payments within minutes.
James Gibson, GM of Revolut Business, expressed his enthusiasm for the new feature. “Since 2017, Revolut Business has been providing hundreds of thousands of business customers around the world with a comprehensive platform to manage business finances effectively. We are excited to be amongst the first to enable Tap to Pay on iPhone for our business customers in the UK and to be providing this simple and secure solution that offers greater flexibility for accepting payments. We are continuously expanding the benefits of the Revolut Business platform, and this is another great tool to support customers to do business seamlessly.”
Alex Codina, GM of Merchant Acquiring at Revolut, also commented on the launch. “Our ambition in Merchant Acquiring is to provide customers with the products and services they need to accept payments in a secure and convenient manner. The launch of Tap to Pay on iPhone allows us to offer greater choice for both consumers and merchants in the UK. We expect to see all kinds of businesses, from retail stores to barbershops and food stands, quickly start accepting in-person contactless payments with only an iPhone.”
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