Revolut Ltd. is launching a one-click payment feature in a bid to rival PayPal Inc. and other tech giants at online checkouts.
Revolut Pay has signed up retailers including Shopify Inc., Prestashop, WH Smith Plc and Funky Pigeon, and will be available within the airline industry in the coming months, according to a statement from the London-based fintech.
Thibaut Genevrier, head of merchant acquiring, said in an interview from New York that Revolut Pay was a sign the firm has reached critical mass, having branched out from its original prepaid card into a range of financial services for both consumers and businesses.
The payment feature, running on Revolut’s in-house software, will enable consumers to earn cashback on purchases through mobile and desktop browsers.
Rafael Henrique/Photographer: Rafael Henrique/SO
We want to be on the top 1,000 e-commerce websites in Europe. We want to be right there in the checkout and have merchants improve their conversion rate, he said. Businesses will be paid within 24 hours, which he said was several days quicker than some rivals. Revolut will charge retailers fees of about 1% for the service.
