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Revolut to expand operations to 24 new markets with Visa

Nik Storonsky, Founder & CEO, Revolut

Visa and Revolut have partnered to assist the latter in expanding its geographical boundaries to five new regions, thus reaching 24  new markets. According to the agreement, Revolut will primarily issue Visa-branded cards in its global expansion.

Nikolay Storonsky, founder and chief executive officer, Revolut said, “The new global agreement with Visa is timely for us 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.”

The supplier has stated that the partnership will enable personalized and seamless banking services, low-cost currency exchange and instant P2P payments.

Visa will enable Revolut to launch 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. Revolut and Visa have been in a partnership facilitating the former’s global expansion for the past four years.

“Revolut has made great strides in delivering innovative and unique experiences to consumers in Europe. We are thrilled to extend our relationship as it looks to achieve their global growth ambitions and collectively drive increased volume on the Visa network,” said Jack Forestell, chief product officer, Visa. “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.”

Recently, Revolut announced that it has selected regulatory and risk technology solutions provider BearingPoint RegTech in a bid to leverage its Abacus360 Banking for EBA and AnaCredit reporting.

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