Revolut has announced that Apple Pay is rolling out in 12 more countries: Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Lithuania, Malta, Portugal, Romania, Slovakia, and Slovenia. That makes 28 markets that Apple pay is available for Revolut customers. Revolut customers may use their iPhone, iPad, Mac and Apple Watch to pay for purchases where the service is accepted.
While Apple does not provide specific details on usage, only occasional usage comments, last year it was estimated that Apple Pay had over 250 million users.
Revolut customers may add their Revolut card to Apple Pay via the Revolut app or via the Apple Wallet app.
Customers may also add a virtual card to Apple Wallet.
For security, the actual card number is not stored on the device. Apple users a unique “Device Account Number” which is assigned, encrypted and securely stored in the “Secure Element” on the Apple device. Each transaction is authorized with a one-time unique dynamic security code.
Arthur Johanet, Product Owner for Card Payments at Revolut, said that Revolut’s ultimate goal is to provide their customers with useful tools to manage their financial needs. Secure payments are part of this mission.
“Our customers across Europe have been requesting Apple Pay for a long time, so we are delighted to continue our rollout with 12 additional markets. This is a very positive step forward in enabling even more of our customers to use their money in the way that they want to,” commented Johanet.
Apple will be rolling out its own credit card at some point this summer in partnership with Goldman Sachs. The moves by Revolut and Apple are indicative of the digitization of financial services and the recognition that the smartphone has become the financial hub for all consumers.
Launched in 2015, Revolut has attracted over 5 million customers. To date, Revolut has raised approximately $340 million in funding from notable VC firms including Index Ventures, Ribbit Capital, Balderton Capita,l and DST Globa