Revolut POS is an iPad-based Point of Sale app aimed at addressing various challenges faced by businesses in the hospitality sector. These businesses depend on efficiency and convenience, and managing aspects such as payments, transactions, order taking, and store management can prove cumbersome with multiple applications.
Designed with a user-friendly interface and comprehensive tools, Revolut's new offering aims to provide a seamless solution for businesses without the need for lengthy contracts or extensive administrative tasks, with a focus on improving customer care and driving sales growth.
The POS system functions beyond payment processing, serving as an all-in-one sales solution suitable for businesses of all sizes. It aims to streamline store operations and ensure swift access to funds with low transaction fees and a 24-hour settlement period.
From small boutiques to large restaurant chains, the POS system aims to optimise operations, improve customer experiences, and facilitate business growth. It requires a simple setup procedure thus allowing businesses to start using it immediately without extensive training. Moreover, its integration with the Revolut Reader supports quick card and contactless payments.
Businesses can customise Revolut's POS system according to their specific requirements by adding custom menus and personalised branding. Additionally, according to Revolut, features such as table mapping and order management can potentially improve operational efficiency, particularly in the hospitality sector.
The system enables centralized management of multiple locations and staff members, providing insights into business performance through reporting and analytics tools. Moreover, 24/7 customer support is available for assistance with system functionalities and transaction queries.
In February 2024, Revolut announced the launch of Mobile Wallets for its customers in Singapore in a bid to improve abroad payments. According to the official press release, Revolut’s users could transfer money to Bangladesh (bKash) and Kenya (M-Pesa) directly from their mobile app, providing a simplified and convenient payment option for expats residing in Singapore.
By launching Mobile Wallets in the region, Revolut aimed to improve the overall remittance experience by providing a low-friction, intuitive process, with customers being able to send money abroad using recipient IDs, including name, phone number, and email address.
In the same month, Revolut announced the launch of its Robo-Advisor solution in the European Economic Area (EEA) in a bid to automate investing.
At the time, the company press release detailed that Revolut introduced the Robo-Advisor service to improve investing and tailor it to the customers’ needs. The product was developed specifically for individuals who do not have the time to actively invest or have limited or no trading experience.
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