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Friday 14 December 2018

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Revolut launches cryptocurrency cashback card

Written by Peter Walker
22/08/18

Revolut has launched a metal card that will give customers up to one per cent cashback in either fiat or cryptocurrency, withdraw up to £600 per month free from international ATMs and offer a dedicated concierge service for booking everything from flights to festival tickets.

Revolut Metal customers will also get unlimited foreign exchange, free international money transfers, 24/7 priority customer support and overseas travel insurance covering areas including health, dental, flight and luggage delays.

The one per cent cashback is on all card transactions made outside of Europe, along with 0.1 per cent on those made within Europe. Customers will be able to receive their cashback in any of Revolut’s 25 supported fiat currencies or five cryptocurrencies, including Bitcoin.

The new card is crafted from a single sheet of reinforced steel using a diamond drill bit. Paint particles have then been layered on using a physical vapour deposition, with customers’ details etched in using a laser.

Founder and chief executive Nik Storonsky said Revolut Metal will be the exclusive card of the future, and a must for travellers worldwide. “While the plan already comes with a bunch of new features, there is so much more to come, including commission-free trading and airport lounges.”

He added that the launch is also an important step towards the company generating additional revenue, as it prepares to launch a commission-free trading platform and expand the business into North America and Asia later this year.

The move follows mobile-only challenger rival Starling a new debit card in July with a vertical design that puts all customer details, including name, card number and expiry date, on the back. It was designed to reflect the way people use cards today, slotting them into ATMs and card machines, or making contactless payments in a vertical, or portrait, orientation.



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