With the launch of this device in the UK, Ireland, Italy, and now, Spain, the company aims to meet the growing demands and preferences of the retail industry by allowing businesses to process payments faster, in seconds, improving the experience of both merchants and customers.
The Revolut Terminal joins the Revolut Reader, another POS launched by the fintech in 2023, designed for freelancers and SMEs. This reflects Revolut’s commitment to expand its in-person payment solutions.
The terminal enables fast and efficient payment, offering a POS software platform that facilitates product management and the in-store shopping experience, especially in the retail and hospitality industries. Revolut guarantees a performance of 99.99% uptime, ensuring simple transactions even during business peak hours. This is possible by leveraging its built-in Wi-Fi, SIM card, and long-lasting battery.
The Bank of Spain affirms that the Spanish market currently has over 93 million cards in circulation, and the merchants are required to offer fast and reliable payment options. Revolut Terminal adapts to this need by allowing debit, credit, and mobile wallet payments in 19 different currencies, offering comprehensive and accessible solutions for businesses of all sizes. Merchants will benefit from more competitive rates compared to traditional card payments, with a transaction fee of just 0.05% + EUR 0.02.
The device features Revolut Pay, an option that allows Revolut customers to pay with a single tap from their mobile app. Users benefit from quick transactions and can earn double RevPoints. Those are loyalty points which Revolut clients can use to redeem instant discounts.
Additionally, the device is fully integrated with Revolut Business accounts, allowing access to funds in 24 hours and improving cash flow management for merchants. Through its POS software, businesses can manage multiple aspects of their operation such as table allocation, venue management, and data analysis.
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