Revolut ramps up: Visa expands partnership with UK-based fintech
New agreement will help bring mobile financial services to 24 new markets
October 02, 2019, 1:50 PM Eastern Time
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.