8.6 C
New York
Monday, May 27, 2024
Home Uncategorized Revolut has launched Revolut Pay and reveals spending data from Ireland

Revolut has launched Revolut Pay and reveals spending data from Ireland

Revolut has announced the launch of ‘Revolut Pay’, its new one-click payment feature for online purchases.

The digital bank launched an online checkout feature that allows UK and European merchants to present it as a payment method.

Read also: Starling launched bulk payments feature for businesses

Revolut claims that the new product will make online shopping “even easier as it facilitates direct payments” which will be validated through Face ID or fingerprint unlock, with no account numbers being shared.

The company also highlights additional features such as low transaction fees with no hidden charges in over 20 currencies, funds settled within 24 hours in merchants’ Revolut Business accounts, and cashback incentives for customers.

“With its speed, convenience, security and low pricing, Revolut Pay gives merchants a competitive advantage in a rapidly growing e-commerce market,” says Nikolay Storonsky, founder and CEO of Revolut.

Revolut stats revealed where Irish people are splashing the cash and cutting back. A Revolut spokesperson said the latest August data appears to indicate that inflation is having a sharp impact on spending habits in Ireland. 

“Despite supermarket spending staying relatively the same, the number of transactions increased, suggesting people are buying little bits, as and when they need them, rather than a big shop which could result in food wastage,” they said.

“Although fuel costs declined, reports suggest these lower costs aren’t being passed onto consumers. Our data shows this is encouraging public transport use, as the number of people using buses increased 103pc, and the number of transactions increased by 106pc, year on year.”

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.