Revolut has partnered with Mastercard as the FinTech prepares to launch in the US as part of its global expansion plans.
The London-based challenger bank said the partnership would enable it to issue its first Revolut cards in the US by the end of 2019.
The global Mastercard tie up will also enable to company to reach 210 countries and territories around the world. The two companies have worked together since Revolut launched its foreign exchange card in 2015.
The FinTech unicorn said the new deal will mean that Mastercard will provide a minimum of 50 per cent of all existing and future cards that Revolut issues in Europe, in addition to supporting the launch of a range of new financial services to the US market.
The global expansion will also enable Revolut to reach markets in Asia Pacific and Latin America such as Australia, Singapore, Japan, New Zealand, Brazil and Mexico.
Nik Storonsky, founder and chief executive of Revolut, said: “As a launch partner of Revolut, Mastercard has been an important contributor to our success, and today’s agreement will enable us to meet our ambitious goal of offering innovative financial and payment solutions to people all over the world.”
The partnership will also see Revolut onboard some of Mastercard’s latest technology within its product and solutions, starting with Mastercard’s Send P2P payments platform.
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