Fintech giant Revolut has launched a service, Mobile Wallets, designed to make it easy to send money abroad.
In brief:
- Mobile Wallets users can send remittances quickly using only recipient IDs such as their name alongside their phone number or email addresses.
- The feature enables customers to transfer funds directly through the app, offering particular convenience to expats and international students.
- The service means that Revolut customers in the UK and most European countries can send money to Bangladesh (via bKash), and Kenya (through M-Pesa).
What doe this mean?
Akshat Mittal, GM, Revolut International Payments, says: "Sending money home is a problem many expats face and so it is essential to provide a service that simplifies this and facilitates affordable and convenient international money transfers."
