Revolut's Business Payment Gateway has integrated BigCommerce to enhance payments for online merchants, promising a better processing experience. This collaboration aims to enable e-commerce companies to accept a range of payment methods, manage transactions with ease, and benefit from next-day settlements within their BigCommerce dashboard.

Revolut and BigCommerce Combination

According to the official statement, the new agreement enables merchants to offer their customers an efficient checkout experience. This integration announced on LinkedIn on August 23, 2024, aims to enhance how online businesses handle payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term.

Revolut's gateway enables BigCommerce merchants to accept over 25 different currencies. The platform promises high payment success rates and low transaction fees. Additionally, it eliminates additional charges for refunds or fraud monitoring.

This enhancement makes it a cost-effective solution for businesses aiming to optimize their payment procedures. Merchants using BigCommerce can now manage all aspects of their payment processing directly from their admin dashboard, simplifying operations.

The integration allows over 45 million Revolut users to pay directly from their Revolut balance, reportedly boasting an impressive 98.5% authorization rate. Additionally, businesses are protected by Revolut's PCI-DSS compliance and robust fraud monitoring tools, ensuring secure transactions.

Revolut's integration with BigCommerce followed a period of growth for the London-based fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term. In 2023, the company added 12 million new customers, bringing its total to 45 million as of June 2024. The firm's revenue nearly doubled from $1.1 billion in 2022 to $2.2 billion in 2023, highlighting its rapid expansion.

A New Phase for Revolut

Revolut secured a banking license in the United Kingdom in July 2024. Granted by the Prudential Regulation Authority, it comes with certain restrictions as part of the typical “Authorization with Restrictions” phase for new banks in the UK. During this period, Revolut will continue to operate as usual while completing the build-out of its UK banking operations.

Recently, Revolut integrated Ledger Live, a popular platform for managing digital assets. This partnership aims to make cryptocurrency purchases easier, faster, and more secure. It enables Revolut users to buy cryptocurrencies directly through the Ledger Live app.

According to the fintech firm, the new service will make digital asset management more accessible and safer for users. It also enables them to convert their fiat currency into cryptocurrencies within the Ledger Live app, bypassing additional identity checks and multiple verifications.