Revolut ramps up: Visa expands partnership with UK-based fintech
New agreement will help bring mobile financial services to 24 new markets
Visa has been in the business of helping consumers and businesses move money for more than 60 years – building a secure network with nearly 3.4B credentials, over 54 million merchant locations and the ability to transact in 160+ currencies in almost every country in the world.
Strong and enduring partnerships are important to this mission. Earlier this week Visa announced the expansion of its partnership with Revolut, a London-based fintech founded as a digital alternative to banks. The idea: leverage Visa’s brand, scale and global acceptance footprint to bring Revolut’s product offerings (like currency exchange, budgeting and person-to-person payments) to five new regions reaching 24 new markets, for a total of 56 markets globally.
Revolut leveraged Visa’s global network and capabilities to expand quickly. It started issuing Visa cards in 2017, and today issues Visa-branded cards in every major European market. Under the terms of the agreement, Revolut will primarily issue Visa-branded cards in the global expansion.