Competitor Profile: Revolut

2019-08-27
Price :
Published : Aug-2019
No. of Pages : 27

Competitor Profile: Revolut

Summary

Revolut is an app-based payment solution that allows users to make domestic and international fund transfers to both Revolut and non-Revolut users. It also allows users to make online and in-store payments, as well as cash withdrawals at ATMs using Visa- and Mastercard-branded Revolut prepaid cards. In December 2017, Revolut introduced a new feature allowing users to buy and hold Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple cryptocurrencies within the app. Users can also transfer these digital currencies to other Revolut users.

Revolut allows users to top-up their Revolut account in 15 currencies using multiple payment methods, including bank transfers; Mastercard, Maestro, and Visa debit and credit cards; and payment solutions like Apple Pay and Google Pay. Revolut also acts as an insurance intermediary, offering travel and device insurance products. Launched in 2015 in the UK, Revolut is now available in 33 countries. It is backed by well-known investors including Index Ventures, Balderton Capital, and Ribbit Capital. The company received a European banking license in December 2018 and launched its own current account.

The report provides information and insights into Revolut including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company’s important events and milestones

Scope

– In July 2015, Revolut was launched in the UK.
– In December 2017, Revolut introduced cryptocurrency service, enabling users to buy, hold, and exchange cryptocurrencies including Bitcoin, Litecoin, and Ethereum within the app.
– In August 2018, launched Revolut Metal payment card for high-end customers.
– In March 2019, Revolut launched Auto-Exchange feature enabling users to automatically exchange 24 different fiat currencies and five cryptocurrencies. This feature automatically exchanges the money from one currency into another based on a target exchange rate the customer sets.

Reasons to buy

– Gain insights into Revolut’s business operations and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Filed in: Banking & Finance
Publisher : GlobalData
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