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.
Latest News
-
UBS appoints chief AI officer to boost AI strategy
-
HSBC rolls out acquiring platform
-
Frasers Group uses ACP to complete direct purchases within genAI chatbots
-
BBVA’s bid for Sabadell collapses as chairman Carlos Torres vows to stay
-
Deutsche Bank, ING and Santander join Mastercard cyber defence exercise
-
Santander to merge Openbank and Santander Consumer Finance
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories