Revolut ‘Shops’ is the fintech’s big eCommerce play
Launching in Ireland today, Revolut nudges ever closer to becoming a superapp.
Retailers involved in the launch include the likes of Ikea, TK Maxx, Smyths Toys, Amazon, JD Sports and brands that operate their own online stores like Nike and Adidas.
As an added incentive, Revolut is offering customers who use Shops 3 per cent instant cashback on their spending, and the ability to split their payments using Revolut’s recently-launched Pay Later service.
“We’re delighted to add Shops to our superapp,” said Christopher Guttridge, Revolut’s general manager of lifestyle products.
“Shops helps our customers get the most out of every penny with cashback rewards, or helps them spread the cost of purchases for more expensive periods of the year, such as the Christmas holidays.”
In particular, Gutteridge highlighted the fact that Revolut Shops pays its cashback instantly upon checkout, unlike many other cashback products that can take up to three months to pay out.
“As the cost of living rises, we are delivering ongoing product innovations aimed at meeting our customers’ everyday financial needs and aspirations, whilst giving them more financial control.”
We’ll have to see how this latest test goes, and whether Shops will soon expand beyond Ireland.