Visa and Revolut have announced a new agreement that will help the mobile-only bank expand its business globally.

Leveraging Visa’s brand and global acceptance footprint, Revolut will bring its product offerings to five new regions, reaching 24 new markets for a total of 56 markets globally. Under the terms of the agreement, Revolut will primarily issue Visa-branded cards in the global expansion.

According to Reuters, the company plans to expand its workforce from around 1,500 people currently to over 5,000 by next summer.

Building on its existing agreement in Europe, Visa will let Revolut launch initially in Australia, Brazil, Canada, Japan, New Zealand, Russia, Singapore and the United States, followed by Argentina, Chile, Colombia, Hong Kong, India, Indonesia, Korea, Malaysia, Mexico, Philippines, Saudi Arabia, South Africa, Taiwan, Thailand, Ukraine and Vietnam.

Nikolay Storonsky, founder and chief executive at Revolut, stated: “The new global agreement with Visa is timely for Revolut as we move into a number of new markets to offer even more consumers the control, flexibility and innovative features that our European customers have been benefiting from for years.”

Jack Forestell, chief product officer at Visa, added: “With Visa being accepted at nearly 54 million merchant locations across more than 200 countries, we have the scale, experience and expertise to help FinTechs like Revolut go global.”

Visa and Revolut have built a partnership over the last four years, with the latter first issuing Visa cards to its customers across Europe in July 2017. Revolut customers can now receive instant spending notifications, monthly spending breakouts and budgets by individual categories.

The option to complement the existing Revolut app with Visa Application Programming Interfaces (APIs), including Visa Token Service and Payments Attribute Account Inquiry.

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