Revolut business accounts may now accept card payments online and get access to funds quickly, according to a release from the digital bank. The Fintech stated that business owners may do business like a local and benefit from very competitive foreign exchange (FX) rates.
Revolut Business customers on paid plans will receive an allowance of free UK and EEA card payment acceptance every month, at no additional cost. Fees have been set at a 1.3% fee for UK and EEA consumer cards and a 2.8% fee for all other cards. Additionally, businesses may request payments from anyone anywhere in the world, without the need for a website or online store by using a secure payment link that can be shared with customers.
The settlement is said to take place by the next day.
Businesses can accept payments in 14 different currencies. Funds can be kept in the same currency or converted to another currency at the interbank rate.
Thibaut Genevrier, Head of Acquiring at Revolut, stated:
“Payments sit at the core of any business so we have crafted a solution that meets not only their business account demands but also their payment acceptance requirements. With the current situation in the UK, companies are faced with the necessity to do business online, so not only did we introduce a new way to accept payments through websites, we also now allow customers without an online presence to get paid fast through secure payment links. It’s our mission to democratize acceptance and we are already on the way. Stay tuned!”