Revolut Adds Google Pay for Payments in Europe

London-headquartered Revolut has integrated and launched Google Pay for its customers in ten new European markets, the challenger bank announced on Tuesday.

Google Pay is the mobile 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 application launched by the search engine giant. It enables various digital payments, including online, in-app, and in-store. The services will be available to Revolut customers in ten European countries: Austria, Bulgaria, Estonia, Greece, Hungary, Latvia, Lithuania, Netherlands, Portugal and Romania.

“Our 13 million global customers are fast moving away from cash in the majority of the markets we operate in, and this has accelerated since the start of the year, so launching Google Pay in these 10 new markets is a very positive step forward in enabling our customers to safely use their money in the way that they want to,” James Carpenter, Revolut’s Product Owner for card payments said.

A Challenger Bank

Founded in 2015, Revolut has become a major 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 the United Kingdom and is now expanding both its products and geographical reach. The challenger bank is also applying for a US banking license and entering into several non-English speaking markets, including Japan.

Revolut customers can access Google Pay’s services on Android devices and can add their existing cards on the app for payments.

Meanwhile, Google is aggressively pushing its payments services to new markets as the ongoing pandemic accelerated the need for making contactless payments across many markets.

Apart from Revolut, Mastercard is also rolling out Google Pay in the same European markets via its partner banks and fintech startups.

“Our ultimate goal is to build the world’s first truly global financial superapp, and giving our customers tools such as Google Pay in order to make payments quickly, conveniently and securely is vital to achieving this,” Carpenter added.