Revolut launches card reader as it expands into in-person payments

The new card reader, known as Revolut Reader, marks the fintech bank's move into in-person payment solutions.

Merchants will be able to avail of a new card reader from Revolut as the bank launches its first hardware device.

The new card reader, known as Revolut Reader, marks the fintech bank's move into in-person payment solutions.

The card reader will allow businesses to accept payments from customers whether their business is in-person or on the go.  

Revolut has said that in the coming months it will extend the card reader to a POS solution that will allow larger merchants greater flexibility if they need to integrate the Revolut card reader with POS systems that are already in place.

The wireless card reader has a rechargeable battery and accepts transactions using chip and pin, as well as contactless methods and digital wallets such as Apple Pay.

Maria Garcia Marti, product owner acquiring, Revolut said: ”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. 

"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. This is exactly what Revolut Reader is offering our business customers: really tap into business growth," she added.

Revolut has said that customers of the service will be to accept, settle, and store funds all in one place using their Revolut Business account.

Revolut has over 500,000 corporate clients globally as well as 18m retail customers.

The launch of the card reader follows Revolut's announcement last month that it would pilot a new 'buy now, pay later' credit service in Ireland.