FinTech Revolut has launched its own card reader, entering into the physical retail space.
In Brief:
The card reader is aimed at shops and restaurants.
Customers can use the card reader to make payments through Chip & PIN, contactless card and mobile.
Businesses will pay 0.8% plus a 2p transaction fee, with deals available for larger purchases.
What does this mean?
This is the latest addition to Revolut’s service for businesses and aims to support retail and hospitality businesses with transactions as consumers increasingly move away from cash. The aim is to help them receive payments “faster than the industry standard” which is especially important for smaller businesses. This is set to be extended over the next few months.
