Revolut, a leading FinTech company offering a wide range of financial services, has announced a new offering for its UK business merchants.
The company, known for its innovative approach to personal and business finance, will now enable merchants to accept American Express cards, tapping into a premium customer base with higher spending potential, according to Finextra.
The decision to include American Express as a payment option is aimed at enhancing the capabilities of UK business merchants. By accepting American Express, Revolut aims to provide access to a broader and more affluent customer demographic while simultaneously supporting the growth of American Express’ network across the UK.
The company has been a prominent player in the FinTech space, providing a comprehensive suite of financial services including banking, currency exchange, and payments to individuals and businesses globally.
Its business arm, Revolut Business, has become an essential tool for companies seeking flexible, cost-effective payment solutions.
The newly introduced American Express payment option will be initially available for ecommerce transactions through Revolut’s payment gateway, Payment Links, and Tap to Pay on iPhone. In-person payments will also be supported later this year, offering even more versatility for merchants.
With this addition, Revolut Business now boasts seven different payment methods for merchants at the checkout. This diversified offering is designed to help businesses cater to a wider range of customer preferences, promoting seamless and convenient payment experiences.
The product will also expand Revolut’s business offerings by enabling its clients to attract American Express cardholders, who are known for their loyalty and higher spending habits.
This development is expected to further support business growth by capturing new audiences.
Revolut Business general manager – merchant acquiring Alex Codina said, “Businesses accessing a wide array of payment methods through Revolut Business can create seamless experiences for their customers, fostering loyalty and encouraging repeat business. It’s why we are so excited to offer access to cost-effective and secure American Express payments through our platform, helping our merchants expand and capture new audiences.”
American Express general manager, UK Merchant Services Dan Edelman added, “Revolut Business will enable yet more businesses across the UK to benefit from welcoming loyal and high spending Amex Cardmembers, offering an improved payment experience to their customers.”
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