Financial app Revolut has launched Revolut Pay, an online checkout feature that allows UK and European merchants to present it as a payment method.
The challenger says its new product will make online shopping “even easier as it facilitates direct payments” which will be validated through Face ID or fingerprint unlock, with no account numbers being shared.
Revolut Pay can be used by Revolut members through the app, and also by non-Revolut users who can use their saved Mastercard or Visa cards issued by other providers to make the purchase.
The company also highlights additional features such as low transaction fees with no hidden charges in over 20 currencies, funds settled within 24 hours in merchants’ Revolut Business accounts, and cashback incentives for customers.
“With its speed, convenience, security and low pricing, Revolut Pay gives merchants a competitive advantage in a rapidly growing e-commerce market,” says Nikolay Storonsky, founder and CEO of Revolut.
Revolut Pay is already being used by the likes of Shopify and WH Smith and will be rolled out to more merchants in the coming months.
The new feature follows the launch of Revolut Reader, a card reader payment terminal, which was introduced in July, and Revolut’s payment acceptance platform for businesses, which was launched in 2020.