Mikael Peydayesh, Product Owner for Core Payments at Revolut

With instant payments gaining popularity in the UK, Revolut has selected Bottomline Technologies’ Universal Aggregator solution in a bid to deliver real-time payment offerings to its clients in the UK.

“Bottomline’s real-time payment and settlement service provide all the core benefits of the historical access methods to Faster Payments. Given the competitive dynamic of a fast-growing scale-up organization, Bottomline’s expertise and leading technology have helped us accelerate the delivery of a new service and allowed us to center our attention on growing our business,” commented Mikael Peydayesh, Product Owner for Core Payments at Revolut.

According to the supplier, the solution offers financial institutions with real-time payment connectivity, thereby allowing for an easier access to the UK’s Faster Payments Scheme without the need for scheme approvals. Universal Aggregator is also expected to provide Revolut the ability to cost-effectively scale their payment services.

“Creating reliable and innovative technology to serve a fast-paced, digital society is at the heart of the payments industry right now. We are delighted to provide Revolut with value-add functionality that speeds up the way their customers can pay and get paid and helps enhance the overall Revolut experience,” said Nigel Savory, Managing Director of Europe at Bottomline.

Recently, Revolut released its financial report wherein it reported an almost 5x growth in its revenue at £58.2 million in 2018 as against £12.8 million in the previous year.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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