Revolut Business launches Revolut Reader, its first hardware device, moving into in-person payment solutions
Product & feature · 5 July 2022
London/Dublin, July 5th, 2022 - 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.
A fast, simple and secure solution for fast payments
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 in place within businesses, having a SDK/ API solution included. 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 POS systems already used.
All-In-One Business Account
The payment terminal is easy to use and set up and enables the customer to accept, settle and store payments within a single account. Also, the product comes with a competitive pricing as low as a 0.8% + £/€0.02 per transaction fee and a one-off cost or customised pricing for the businesses dealing with high volumes.
Revolut Reader is built for any kind of business - big or small, entrepreneurial or corporate giant, new merchant or one-stop-shops - in all industries. By opening a Merchant Account with Revolut Business, a customer can connect a business account to Revolut Reader and gain free access to the growing suite of smart Revolut Business tools (local and international payments, foreign exchange at interbank rate, IBAN for global transfers, payments requests, expenses, subscriptions and company cards management, payroll). Moreover, Revolut Reader customers can tap into a network of more than 18 million consumers who are checking out with Revolut.
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