By John Reynolds on Monday 12 September 2022
The launch of Revolut Pay marks the latest stage in Revolut's bid to become a "super app". Revolut will charge retailers fees of around one per cent for the service.
Revolut’s bid to become a “super app” has moved a step closer with the launch of a one-click payment feature.
Merchants across the UK and Europe can use Revolut Pay as a payment method across product, cart, and checkout pages.
Payments will be validated by Face ID, or fingerprint ID, Revolut said, with no sharing of account numbers.
Those who aren’t Revolut customers can use the feature with payment cards from other providers.
In an interview with Bloomberg, Thibaut Genevrier, head of merchant acquiring, said that Revolut Pay was an indication that the fintech had achieved “critical mass”.
“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.
He said that businesses would be paid within 24 hours, which he said was quicker than some rivals. Revolut will charge retailers fees of around one per cent for the service.
"At Revolut, we constantly strive to make it faster, easier and cheaper for merchants of all sizes to accept payments, wherever they are, and to make it more convenient and secure for customers to pay. That’s why we’re launching Revolut Pay.”