Revolut launches new point-of-sale device

Starting next month, Revolut Business users in Ireland will be able to buy the new POS device at a special pre-sale discount.

Today, on October 14, the international neobank and fintech firm Revolut revealed its latest point-of-sale (POS) device, called the 'Revolut Terminal,' specifically designed for Revolut Business customers.

Revolut states that the Terminal comes with built-in Wi-Fi and SIM capabilities, along with a battery that can last an entire day.

The company stated that the POS device integrates smoothly with Revolut Business accounts, allowing customers to use 'Revolut Pay.' This feature lets users make payments directly from their Revolut apps to the terminal while also earning loyalty RevPoints.

Revolut Terminal can now be pre-ordered in the UK starting today, with availability in Ireland coming next month. It's being offered at a special price of €139, not including taxes.

Alex Codina, the general manager of merchant acquiring at Revolut, stated, “This launch reflects our ongoing commitment to enhancing our B2B services, with a particular focus on the hospitality and retail sectors as we expand our acquisition efforts.”

James Gibson, the general manager of Revolut Business, stated, "Revolut Business is gaining significant traction. This summer, we crossed the $500 million mark in annual revenue and have been adding more than 20,000 new clients each month."

Introduced in 2017, Revolut Business has grown to operate in 40 different markets. According to the company, their monthly transaction volume in Ireland hit €774 million this year.

"We are fully committed to expanding our B2B efforts and are prepared to transform banking for a larger number of businesses globally," stated Gibson earlier this year.

Revolut has had a remarkable year, emerging as one of the most valuable startups in Europe with a valuation of $45 billion. In July, the company obtained a banking license in the UK, albeit with some limitations set by the British banking regulator. Moreover, this September, they introduced a new tool for businesses called BillPay, designed to assist with managing bills.

In April, the neobank revealed its intentions to boost its workforce worldwide by 40% this year. This will involve generating new positions in important markets to enhance its competitiveness against traditional banks.

Make sure you stay informed and equip yourself for success. Subscribe to the Daily Brief, Silicon Republic's summary of essential science and tech news.