After Softbank lead an $800 million investment into Revolut, the UK-based challenger bank came up with another feature – travel booking.
This new feature called “Stays” enables customers to book hotels and other holiday accommodation through Revolut’s super-app.
Bookings of flights, car hires and general travel experiences are expected to be added later.
To boost usage of “Stays” among customers, Revolut has set aside £70 million to offer users 10% cashback on every accommodation booked through its app.
According to data provided by Revolut, about 72 % of Brits will go abroad as soon as they’re able to.
And only about 6 % of the respondents have no plans to travel abroad at all.
“As the world begins to cautiously open up, we know everyone is desperate to get away whenever they can — whether it’s to Margate or Mallorca,” says Marsel Nikaj, Revolut’s head of savings and lifestyle.
“We’ve built Stays to make it easy for people to find and book their perfect break in their ideal destination. After 18 months of endless restrictions and lockdowns, we want to give people more and make their money travel further.”
This new feature goes straight into competition with the likes of Booking Holdings Inc., etc.
Revolut is now the most valuable fintech in the UK, as well as one of the biggest of the privately-backed scaled-up startups not just in Europe, but the world.