Revolut in new partnership with Visa

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  • Revolut now Visa-enabled
  • Free prepaid cards given to athletes at 2018 Winter Olympics

Revolut is adding to its money transfers capabilities with Visa cards.

Visa has just announced the new partnership with the London-based fintech startup, which will mean that every new customer who signs up to Revolut’s standard prepaid card will be issued with Visa cards.

To celebrate the new partnership, Visa – which is sponsoring the Winter Olympics in PyeongChang – and Revolut have issued prepaid contactless Revolut Visa cards to all 59 British competitors at the events, together with the broader delegation for Team GB who have accompanied them.

The card allows athletes and staff to make secure and seamless money transfers with a straightforward tap at any of South Korea’s contactless terminals. No foreign exchange fees will be charged for any international payments. The service is available across each and every one of the 2018 Olympic Winter Games venues.

Describing the new relationship with Revolut as an “exciting” development, Visa’s UK & Ireland Marketing Director Suzy Brown said that it coincides with major efforts to deliver a new stream of payments innovations for businesses and consumers.

She went on: “Visa is accepted in over 46 million merchant locations worldwide, so the team’s Revolut Visa cards will allow them to make purchases both conveniently and securely when they are in PyeongChang, giving them one less thing to worry about as they aim to do the country proud.”

Despite its recent appearance on the fintech scene (it launched less than three years ago in July 2015), Revolut has built up a customer base of more than one million users, spanning 30 countries in Europe.

The startup’s CEO and founder Nikolay Storonsky said that he and his colleagues were “extremely proud” to be partnering with Visa, not least because Revolut shared a common ambition with the card giant to use innovation and technological capabilities to deliver a seamless experience for clients and customers alike.

Noting that more than one million people were already signed up to Revolut, he added: “we’re very excited that more cardholders will benefit from the control and flexibility we provide”.

If the experience of the athletes is anything to go by, the partnership is a most welcome development. Team GB athlete Elise Christie, who was among those competitors who received a contactless Revolut Visa card before travelling to PyeongChang, explained how useful the card has proven to be.

Speed skater Christie said that her role as a professional athlete demanded that she travel constantly around the globe, an experience which sometimes brought her up against the unavailability of some of the things which are taken for granted at home.

She added: “At least while I am in South Korea I can rest assured that I’ll be able to tap to pay with confidence with my Revolut Visa prepaid card, just as I would do when I’m in the UK.”

Nigel Frith
Nigel Frith
Former Global General Manager
Nigel was the Global General Manager at FXcompared. Nigel has a background in marketing for businesses and consumers as well working in a variety of online financial services roles. Read more

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