UK-based digital bank Revolut has launched ‘Homes’ – a holiday home rental feature with cashback in travel services as another extension of the Revolut superapp.
With hundreds of thousands of holiday homes all over the world, Revolut customers can book a stay on Homes and get up to 4% cashback effortlessly, depending on the customer’s Revolut plan.
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Revolut has informed that the accommodation booking feature Stays has given over GBP 1.5 million+ in cashback to customers globally.
Homes joins Revolut’s suite of travel services, as it continues to focus on products aimed at meeting customers’ travel needs – including hotels, travel insurance, and currency exchange.
With more than 20 million customers worldwide, Revolut believes it is positioned to challenge Airbnb – a company that reported having four million hosts and six million listings back in March – by taking away some of its market share and aligning with shifting travel trends and preferences.
Christopher Guttridge, general manager of lifestyle products at Revolut, said: “When it comes to travel, we know that our customers’ needs are changing more and more. Big or small, budget or bougie, local homes or chic-hotels – our customers want to book any kind of place, all in one place.”
Homes is available in the UK and Europe and customers pay for a Home through the Revolut app.
This also reflects the growing role fintech is playing in the short-term rental sector and wider travel verticals.
Online payment platform Stripe now allows users to accept payments for direct bookings and bookings through major online travel agencies such as Airbnb, Vrbo and Booking.com, as well as to collect additional changes such as security deposits.
Earlier this year, the company also partnered with the all-in-one technology platform Jetstream Hospitality Solutions to power an automated payment platform for property managers operating in the space.