- Revolut set to launch Revolut Terminal, its new point-of-sale device designed for constant connectivity and quick payments that syncs with Revolut Business accounts in exclusive reduced cost pre-sale
- The device reduces transaction costs for retailers by offering a unique, additional payment method, Revolut Pay, allowing customers to pay directly from their Revolut app, earn RevPoints and redeem their earned points for discounts
- Revolut Terminal is launching ahead of busy retail events including Black Friday and holiday season, ensuring merchants have a reliable payment solution to not lose out on important payments during high volume periods
- The device represents a new revenue stream for Revolut as it continues to double down on its B2B offering
London, 14th October 2024 – Revolut, the global fintech with more than 45 million customers worldwide and hundreds of thousands of business customers, has today announced the launch of Revolut Terminal in the UK and Ireland, with pre-orders beginning today in the UK and in the next month for Ireland. A new point of sale device optimised for speed, Revolut Terminal will allow businesses to accept payments in seconds and meet the growing demand for quick, reliable point-of-sale (POS) devices.
With its Terminal device, Revolut Business aims to deliver 99.9%+ platform uptime for uninterrupted sales even during the busiest periods. Integrated WiFi and SIM connections and a battery that lasts all day ensure the device is always ready to take payments on the spot when it matters most.
Available on exclusive pre-sale,* Revolut Business customers can access the Terminal at a cut rate of £129 + VAT down from £169 +VAT and receive the device in time for the busy retail season; with Black Friday and Christmas on the horizon meaning merchants need a terminal they can rely on to take payments without downtime. While high demand for payments on Black Friday can occasionally cause digital outages for many providers, Revolut Business’ payment processing technology achieved 100% platform uptime on Black Friday last year.
The all-in-one solution offers Revolut Pay, a unique payment method where Revolut customers can pay directly from their Revolut app, earning RevPoints** – loyalty points accumulated from spending on Revolut – in the process at no cost to the merchant. When paying with Revolut Pay, customers can redeem their earned points for discounts on their spending. In turn, Revolut Pay transactions give merchants access to lower fees (0.5% + £0.02 for Revolut Pay transactions).***
Revolut Terminal integrates seamlessly with Revolut Business technology, aiding cash flow with funds accessible within 24 hours. It can be paired with our Point of Sale software to give merchants access to advanced analytics, table mapping, multi-location management and customer catalogues, streamlining the process of dealing with multiple service providers and making expense management easy.
The launch follows the publication of Revolut Business’ annualised revenue surpassing $500M globally as the group commits to doubling down on its B2B offering and driving investment into product innovation to better serve business customers.
Alex Codina, General Manager of Merchant Acquiring at Revolut, commented: “We’re excited to be offering Revolut Terminal as an all-in-one, powerful POS solution for our business customers. This launch comes as we continue to invest into our B2B offering and particularly double down on the hospitality and retail industries as an acquirer. A truly reliable payment solution is the difference between closing the sale and losing money – with Black Friday round the corner, Revolut Terminal is built to withstand high customer demand; and it could be yours in time for the busy season at an exclusive, reduced rate.”
James Gibson, General Manager of Revolut Business, commented: “We’re continuing to see lots of momentum in Revolut Business, having this summer surpassed $500M in annualised revenue and onboarding over 20,000 new customers per month. Revolut Terminal marks the latest investment in our business customers, with merchants of all sizes now able to easily accept payments directly into their Revolut Business accounts, without juggling multiple providers.”
Revolut Business customer, The Mulligan Room, added: “We started taking payments 10 minutes after setting up the Revolut Terminal, it was that easy! Now we benefit from lower costs with great rates and having a merchant and business account in one. The Terminal lets us process payments fast, has robust design and great features like custom tipping.”
About Revolut Business
Revolut Business is the automated financial platform for businesses, helping startups, scale-ups and enterprises accept and make payments globally, exchange money at great rates and manage their spending.
Our mission is to be the one platform for managing all business finances. Launched in 2017, today hundreds of thousands of businesses rely on Revolut Business to run their businesses and as a platform for growth. To learn more, visit https://www.revolut.com/business/.
