Revolut Debuts Payment Terminal Hardware
Revolut has shared plans to introduce Revolut Terminal, a wireless point-of-sale (POS) device designed for bigger companies in the U.K. and Ireland. This new terminal comes with sophisticated features such as the ability to manage multiple locations, analyze customer data, and work seamlessly with Revolut Pay. Unlike the Revolut Reader, which is aimed at smaller businesses, Revolut Terminal is tailored for larger operations.
Global challenger bank Revolut is expanding its presence in the business-to-business market this year. The company has recently revealed plans to introduce Revolut Terminal, a sophisticated Point of Sale (POS) system tailored for larger enterprises in the U.K. and Ireland.
The latest wireless payment terminal, which boasts an impressive 99.9% uptime, is designed to assist businesses in effectively and securely handling transactions at various physical locations. Revolut intends to introduce the Revolut Terminal just in time for Black Friday, making it a perfect solution for businesses looking to get ready for the anticipated surge in retail customers as the holiday season approaches.
Revolut has introduced a new point-of-sale (POS) device that works seamlessly with Revolut Pay. This setup enables customers to make payments directly from their Revolut accounts, eliminating the need to input credit card or bank information. For business owners, Revolut Pay offers appealing transaction fees, which are set at 0.5% plus £0.02—significantly lower than the fees typically associated with conventional card processing.
"We're thrilled to introduce Revolut Terminal as a comprehensive and effective POS system for our business clients," stated Alex Codina, General Manager of Merchant Acquiring at Revolut. "This launch is part of our ongoing commitment to enhancing our B2B services, with a particular focus on the hospitality and retail sectors as we take on the role of acquirer. Having a dependable payment solution can make all the difference between completing a sale and losing out on revenue. With Black Friday approaching, Revolut Terminal is designed to handle high customer volumes and is available for you at a special discounted price just in time for the busy season."
Besides its attractive pricing, the Revolut Terminal offers advanced point-of-sale functionalities. These include managing multiple locations, organizing tables for restaurants, analyzing customer behavior, and connecting with customer catalogs.
The Revolut Terminal expands on the achievements of the Revolut Reader introduced in 2022. The Revolut Reader is a compact, wireless device designed for small businesses and entrepreneurs to process payments, charging a fee of 0.8% plus £0.02 for each transaction. This sleek and portable card reader connects with Revolut Business accounts and provides vital point-of-sale features, such as tipping and analytical tools.
Revolut provides a comprehensive range of resources for its business customers. Beyond its primary multi-currency accounts, the company also features expense tracking solutions, company payment cards, and a variety of payment acceptance options. These include hardware, APIs, analytics, and integration capabilities.
"We're experiencing significant growth in Revolut Business, as we've recently hit an annual revenue of over $500 million and are welcoming more than 20,000 new customers each month," stated James Gibson, the General Manager of Revolut Business. "The introduction of Revolut Terminal represents our latest commitment to our business clients, allowing merchants of any size to seamlessly accept payments directly into their Revolut Business accounts, eliminating the need to manage multiple payment providers."
Last month, the company separated its wealth management app into its own independent business. Additionally, earlier this year, it solidified its status as the most valuable fintech company in Europe with a valuation of $45 billion.
