Revolut, the global financial super app with over 20 million retail customers, today launched Revolut Pay – a new secure online payment feature enabling merchants across the UK and EEA to showcase ” Revolut Pay” as a payment method on product, cart and checkout page.

Revolut Pay aims to disrupt the payment ecosystem by making online shopping easier as it facilitates direct payments while providing top-notch security for Revolut users: payments will be authenticated through security features like Face ID or fingerprint unlock, and no account numbers will be shared. In turn, this will help prevent fraud and protect users’ funds when shopping.

Revolut Pay is a fast, easy and secure way to pay online or on mobile. Consumers can pay with one click and earn money on purchases as they spend. Existing Revolut users can use Revolut Pay and pay via their saved card or directly through their Revolut account balance. Non-Revolut users can easily pay with a registered Mastercard or Visa card issued by other vendors.

Revolut Pay will solve problems for sellers as well as buyers: Online merchants lose up to 80% of their sales due to customers abandoning their shopping carts. Shoppers often cite lengthy and confusing online checkout processes and limited payment method choices as reasons for leaving the site before making a purchase. Revolut Pay minimizes cart abandonment with quick and easy checkout. Revolut Pay merchants can accept low-fee payments in more than 20 currencies. Revolut Pay follows the launch of Revolut Reader, a card reader payment terminal in July, as well as the launch of Revolut’s payment acceptance platform in 2020 to make it easier for businesses to accept payments.

Since launching Revolut Business in 2017, Revolut has developed 20 products designed to empower businesses looking to increase conversions and manage finances more efficiently. Revolut Pay is already used by sellers like Shopify, Prestashop, WH Smith and Funky Pigeon and will be available from other sellers in the coming months, including Club L London and flight booking company FlyGo.

Revolut Pay is fully powered by Revolut’s payment technology and is a step towards building Revolut’s payments ecosystem, where Revolut enables transactions between retail and corporate customers. Revolut’s new direct payments solution will also reduce costs for its corporate customers.

“With its speed, convenience, security and low pricing, Revolut Pay gives merchants a competitive advantage in a rapidly growing e-commerce market. At Revolut, we constantly strive to make it faster, easier and cheaper for merchants of all sizes to accept payments, wherever they are, and to make it more convenient and secure for customers to pay. That’s why we’re launching Revolut Pay.”

Nikolay Storonsky, Founder & CEO of Revolut.

Revolut Pay features include:

• A new way to pay that’s fast and frictionless
• Best-in-class security, leveraging two-factor authentication when needed
• Low transaction fees with no hidden or monthly charges
• With Revolut Pay, funds will be settled directly into a merchant’s Revolut Business account within 24 hours at no extra cost (compared to businesses typically receiving funds settled to their account in up to seven days and having to pay for quicker funds arriving)
• SMEs can add Revolut Pay to web and mobile checkout pages and be up and running in minutes via our easy-to-install plug-ins
• For larger businesses and start-ups, Revolut Pay has a set of easy-to-integrate plug-in API and SDKs (Software Development Kits) that allows enterprises to go live in a matter of days
• Option to incentivize customers with cashback on their purchases

Revolut Business is a super borderless finance app for businesses – rapidly improving the way startups, scalers and large enterprises accept and make payments, control costs and hold their team accountable. Our mission is to help companies do business globally, from day one, from anywhere. Launched in 2017, hundreds of thousands of businesses now rely on Revolut Business as a platform for growth.