Revolut Business now accepts payments online

  • Revolut Business last week announced that UK businesses can accept card payments online and directly into their account with no additional cost.

    Revolut Business has a 1.3% fee for UK and EEA consumer cards and a 2.8% fee for all other cards, making its competitive rates almost unmatched by other major payment platforms.

    The fintech’s easy-to-install checkout plugins are aimed to help owners stay on top of their finances and accept payments online hassle-free. They can also enhance their own checkout experience by using the customisable widget and Merchant API.

    This means business owners can manage everything in one place without needing to alternate between acquiring and banking platforms.

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    Thibaut Genevrier, Head of Acquiring, said: “Payments sit at the core of any business so we have crafted a solution that meets not only their business account demands but also their payment acceptance requirements.

    “With the current situation in the UK, companies are faced with the necessity to do business online, so not only did we introduce a new way to accept payments through websites, but we also now allow customers without an online presence to get paid fast through secure payment links.

    “It’s our mission to democratize acceptance and we are already on the way. Stay tuned!”

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    The news has been welcomed by many independent small business owners who are just starting out, as many larger mainstream banks are currently not opening any new business accounts due to Covid-19, so Revolut Business has been a lifesaver to many.

    As more brick-and-mortar banks turn to digital transformation accelerated by the coronavirus pandemic, Starling Bank has also announced it is the first of the new-age digital banks to break even.

    Based out of London with nearly 1.8m accounts, £4bn in deposits, and £1.5bn of lending, Starling expects to be profitable on a monthly basis going forward as it continues to grow and gears up to scale across Europe. 

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