Revolut offers ‘salary swap’ to staff amid Coronavirus

April 16, 2020 | FinTech

Written by FinTech Alliance

Revolut offers ‘salary swap’ to staff amid Coronavirus

Revolut has offered staff shares in exchange for lower take home pay.

In Brief:

  • The offer is being made in light of the Coronavirus crisis, as Financial News reports.

  • The cofounders will also reportedly forego their salaries for a year.

  • Employees can swap £1 worth of salary for £2 worth of share options.

What does this mean?

The lockdown has hit many banks hard, but as a huge part of Revolut’s USP is its use for travel and currency exchange, it’s likely to see a reduction in use – however it may benefit from the overall increase in use of FinTech as people are encouraged to stay home and use contactless payments where possible.

Read more here.  

 

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