Revolut Business launches Revolut Reader, its first hardware device
By Joy Dumasia
Revolut, the super-app with over 18 million retail customers globally and more than 500,000 corporate clients, is launching Revolut Reader in the UK and Ireland. A fast and powerful lightweight card reader, the new product is designed to allow merchants of all kinds to accept payments anywhere, whether their business is in-person or on the go. The launch marks Revolut’s move into in-person payments, as the super app continues to diversify its offering for business customers.
Payments will become as easy as cash with Revolut Reader but without the hassle of dealing with coins and notes. Revolut Reader accepts instant and secure transactions made with debit and credit cards, as well as contactless payment methods. It’s powered to run transactions all day and has smart features to keep up with the demands of a growing business. With payment speeds under 5 seconds, customers can accept, settle, and store funds all in one place, their Revolut Business account.
Maria Garcia Marti, Product Owner Acquiring, commented:” When designing new products, our team always has customer needs in mind: a fast and easy to use solution that will not slow business down, easy access to funds, and receiving payments faster than the industry standard of 2-3 business days. Plus, the security and long battery life of a small pocket-sized device capable of streamlining operations without the need to manage multiple accounts and systems. This is exactly what Revolut Reader is offering our business customers: really tap into business growth.”
Revolut Reader can be adapted to other POS systems within businesses, including a SDK/ API solution. In the coming months, Revolut Business offer will be extended with a POS solution that will bring more flexibility to larger merchants if they need to integrate Revolut Reader with already-used POS systems.
The payment terminal is easy to use and set up and enables the customer to accept, settle and store payments within a single account. The product comes with competitive pricing as low as a 0.8% + £/€0.02 per transaction fee and a one-off cost or customized pricing for businesses dealing with high volumes.
Recently, IBS Intelligence reported that Revolut is rolling out its responsible pay later product, ‘Pay Later’ in Europe, as it continues to expand its suite of products to help people get more from their money. Revolut Pay Later is the first pay later product in Ireland that uses an approved credit limit designed to focus on affordability.
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December 08, 2023