Revolut Business adds a suite of new features for businesses
Product & feature · 17 March 2021
- New products include a new Metal card plan for freelancers, QR codes for socially distanced payment acceptance and updates to its suite of Expenses tools
- Business owners can manage expenses, from missing receipts to late submissions, all from the Revolut Business app
- Business customers can now use the WooCommerce or Prestashop plugins to accept payments easily
- Revolut Business customers can validate payee information by using Confirmation of Payee
17 March 2021
In just the first quarter of the year, Revolut Business has added a suite of new features for business customers, including its new Ultimate Freelancer plan, QR codes to allow Businesses to accept socially distanced payments and new additions to bolster its Expenses product.
Revolut Business cards and subscription plans
Ultimate Freelancer plan
Responding to customer demand, Revolut Business has launched a new plan, Ultimate Freelancer, to give freelance customers higher fee allowances to suit their business needs. This new plan is £25 a month and offers customers a wide range of features, including £10k foreign exchange (FX) free allowance and an allocation of 100 local and 10 international free payments every month with no additional fees. Customers on this plan also gain access to a range of additional tools, 24/7 priority support, and receive a complimentary metal card.
Metal for freelancers
After launching its striking metal cards for Revolut Business customers on Company plans late last year, the fintech has now rolled out its exclusive metal cards to Business customers on Freelancer plans. The distinctive metal cards are available on all paid plans at a cost of £49 each; those on the new Ultimate Freelancer plan receive one card for free
Request in-person payments easily with QR codes
QR codes allow business owners to request and accept payments in person while still remaining socially distanced from their customers who can pay using Apple Pay, Visa or Mastercard. This quick, easy and touch-free payment method is available to Revolut Business customers in 25 different European countries. To access QR codes Revolut Business customers should sign up for a Merchant Account.
Confirmation of Payee
Revolut Business enables its customers to validate UK payee information by checking that the account details match the information held by a payment provider or bank. Now the payer will be alerted if the details do not match. Revolut Business asks customers to make sure that the account details match before sending funds to another account.
Save time with automatic receipt matching
Revolut has updated its Expenses product to provide new functionality with automatic receipt matching. This will help owners manage expenses faster and should allow people to avoid making any needless mistakes so now business customers can focus on what really matters - their business. The automatic receipt matching system allows receipts to be read by Revolut’s smart tech and then automatically attached to expenses which cuts back on a lot of manual work for business owners and their employees.
Forward digital receipts via email
With lockdowns in various parts of the world, the volume of online transactions has increased, and to help businesses cut back on admin time Revolut Business has added another new feature to its Expenses offering. Now businesses can forward digital receipts to their Revolut Business account via email or by simply uploading files.
Categorise repeat expenses
Customers who regularly make payments to the same place can now spend less time on admin and automatically categorise expenses into sections such as subscriptions or transport.
All of the new Expenses features are currently available on Revolut’s paid plans. Customers can access these features through the web app or using iOS, with repeat expenses currently available on Android and forwarding receipts and receipt matching coming to Android soon.
Revolut Business has partnered with PrestaShop to make accepting card payments on websites via Revolut simpler and more convenient. The Revolut Business plugin now comes pre-installed or can be easily found in the Prestashop add-ons marketplace.
The functionality of Revolut Gateway for WooCommerce has also expanded. Customers can refund straight from the WooCommerce store, accept payments and sync between WooCommerce and Revolut Business orders. It’s super easy to set up, just download the latest version from the official Wordpress marketplace or search the admin panel of your WooCommerce store.
James Gibson, Head of Product at Revolut Business said:
“This quarter we have added a host of features to simplify and automate administrative tasks. We have also added a new way for customers to accept payments in-person, QR codes, to sit alongside payment links that we launched last year. We are constantly looking to launch tools to give our customers control over their finances, so they can focus on what matters to them - growing their business.”
Revolut Business customers should update their device to the latest version of the app to use the new features.
*Accurate and up to date as of 17/03/2021.
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