Visa chosen by Revolut as issuing partner for global expansion

Tuesday 1 October 2019 13:01 CET | News

Visa and Revolut have announced a new agreement that aims to help Revolut expand its business globally.

As part of the agreement, Revolut will leverage Visa’s brand, scale, and global acceptance footprint, thus being able to bring its product offerings to five new regions. As such, the company reaches 24 new markets, for a total of 56 markets globally. Moreover, Revolut will primarily issue Visa-branded cards in the global expansion.

Revolut and Visa will allow for:

  • flexible, customised banking services: Revolut customers can receive instant spending notifications, monthly spending breakouts and budgets by individual categories;

  • low cost currency exchange: Revolut customers can spend globally in over 150 currencies, and hold and exchange up to 29 currencies and cryptos directly in the app using the interbank exchange rate;

  • P2P payments: consumers can instantly send and request money for free and split the bill at restaurants and bars with any Revolut customer globally.

Revolut offers digital financial services via a mobile application, including currency exchange, budgeting, and person-to-person (P2P) payments, all linked to a Visa card. Visa will enable Revolut to launch initially in Australia, Brazil, Canada, Japan, New Zealand, Russia, Singapore, and the US, followed by Argentina, Chile, Colombia, Hong Kong, India, Indonesia, Korea, Malaysia, Mexico, Philippines, Saudi Arabia, South Africa, Taiwan, Thailand, Ukraine, and Vietnam.

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Keywords: Visa, Revolut, issuing partner, global expansion, partnership, fintech, cards, banking, exchange, interbank exchange, cryptocurrency, P2P
Countries: World

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