Revolut moves into stores with physical card readers

Revolut Business is entering the retail space for the first time with a card reader in the UK and Ireland.

The move into in-person payments brings in the company’s first hardware device, which is designed to allow merchants to accept payments anywhere.

Revolut Reader will give customers the option to pay via chip and pin, contactless, Apple Pay and Google Pay.

“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,” Revolut product owner Maria Garcia Marti said.

“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.”

The new product will allow business customers to “really tap into business growth”, she said.

Revolut is currently actively focusing on small and medium businesses, freelancers and casual sellers, a Revolut spokesperson told AltFi.

A point of sale solution will be introduced in the coming months that will allow integration with the card reader for larger merchants.

This new venture into competition with the likes of Square, Zettle and SumUp is the latest in a number of new offerings for the company’s business customers.

The financial super app launched new ‘spend management’ features a few months back, and more recently started fee-free USD transfers for UK customers.