Revolut bets on Stripe technology to expand payments globally

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Launching soon in Mexico and Brazil, Revolut joins a long list of Stripe users, including N26, Ford and Spotify.

Revolut will now use Stripe’s financial infrastructure platform to power its payments in the UK and Europe.

Stripe’s international reach is also expected to accelerate Revolut’s global expansion, helping it to enter and expand into new markets. The British neobank plans to soon launch in Mexico and Brazil.

With this latest partnership, Revolut joins a long list of tech companies that have turned to Irish company Stripe to power payments, including German neobank N26, Swedish fintech Klarna, US automaker Ford and streaming giant Spotify. .

“Revolut builds transparent solutions for its customers. This means access to fast and easy payments and our collaboration with Stripe facilitates this,” said David Tirado, Vice President of Business Development at Revolut.

“We share a common vision and are excited to collaborate on a number of areas, from leveraging Stripe’s infrastructure to accelerate our global expansion, to exploring innovative new products for Revolut’s more than 18 million customers.

Founded in 2015, Revolut has become one of Europe’s biggest fintech start-ups. The London-based company now offers payment and banking services to 18 million customers and 500,000 businesses in more than 200 countries and territories.

Last month, the fintech debuted in the highly competitive buy now, pay later market in Europe, with a rollout beginning in Ireland. It also revealed this week that it is turning to in-person payments, launching a card reader for businesses in the UK and Ireland.

“Revolut and Stripe share an ambition to upgrade financial services globally. We’re excited to power Revolut as it builds, scales and helps people around the world get the most out of their money,” said Eileen O’Mara, Head of Revenue and Growth EMEA at Stripe.

Even though Revolut has 1.7 million customers in Ireland and is rolling out banking services there, the fintech is set to face fierce competition from Synch Payments, a mobile payment apps business from some of Ireland’s anchor banks. Synch recently took another step towards launch by choosing a technology partner for its app.

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