8.6 C
New York
Tuesday, May 28, 2024
Home Challanger banks Revolut sees surge in flights spending

Revolut sees surge in flights spending

Challenger bank Revolut reported an increase in the airport and similar travel-related spending.

Read also: Starling Bank wins the race in current account switching

The data comes from Revolut’s Irish customer community (which is about 1.5 million strong) and from July compared to June.

For example, the number of buyers in duty-free leaped by +108% compared to a month earlier. Spending on airline tickets by Irish customers was up by +50% in July compared to June, the figures indicate.

After Softbank lead an $800 million investment into Revolut, the company also 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.

“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.

Revolut Ireland Head of Public Affairs Sebastian Hamilton said: “Our latest figures show a surge in spending on flights and at airports in July, as well as a significant rise in Irish Revolut customers spending abroad.”

“The introduction of the Covid passport on 19 July appears to have been a significant factor in the return of international travel, as shown by the surge in spending on airlines, and at airport shops and duty-free.”

Overall, the amount of spending by Irish Revolut users was 8% higher in July than in June.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit

MoneyLIVE has today announced that Revolut’s newly appointed UK CEO will be making her conference debut at MoneyLIVE Summit 2024, which is...

2024’s Financial Innovators: A New Era of Banking Startups 

In the wake of the COVID-19 pandemic, our world witnessed an unprecedented shift towards digitalization. The banking industry, in particular, has been...

C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March

On the 6-7 March 2024 MoneyLIVE Summit will return to London’s QEII Centre to unite over 1000 banking and payments leaders from...

The Evolution of Digital Wallets: A Shift from Physical Cards by 2030

By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.