Last Updated on Tuesday, 23 July, 2024 at 11:19 am by Andre Camilleri
Revolut, the global fintech with over 45 million retail customers globally and hundreds of thousands of corporate clients, is launching Revolut Reader in Malta. A fast and powerful lightweight card reader, the product is designed to allow merchants to accept payments anywhere, whether their business is in-person or on-the-go. Having already launched in 12 markets, today marks the next step in Revolut bringing in-person payments to more of its EEA clients, as the fintech continues to diversify its offering for both business customers and freelancers.
A fast, simple and secure solution for fast payments
Payments will become as easy as cash with Revolut Reader, but without the hassle of dealing with coins and notes. Revolut Reader accepts instant and secure transactions made with debit and credit cards, as well as contactless payment methods. It’s powered to run transactions all day and has smart features such as items catalog and ‘add tip’ to keep up with the demands of a growing business. With payment speeds under 5 seconds, customers can accept, settle, and store funds all in one place, their Revolut Business account.
Alex Eguileor, General Manager of Merchant Acquiring at Revolut, commented: ”As of today, we’re delighted to be bringing Revolut Reader to businesses in Malta. We brought Revolut Reader to market as a fast and easy to use solution that will not slow businesses down, provide easy access to funds, and enable them to receive payments faster than the industry standard of 2-3 business days. In addition to that, the security and long battery-life of a small pocket-sized device means that Revolut Reader is capable of streamlining operations without the need to manage multiple accounts and systems. This is exactly what Revolut Reader is already offering some of our business customers today, and we’re looking forward to seeing it drive business traction in Malta as customers really tap into the growth opportunities it provides.
Revolut Reader can be adapted to other POS systems in place within businesses, having a SDK/ API solution included. The Revolut Business offer has been extended with a POS software solution, bringing more flexibility to larger merchants that need more sophisticated tools to run their business. Revolut partnered with Jabil Payments to develop the customized mPOS solution.
All-in-one business account
The payment terminal is easy to use and set up and enables the customer to accept, settle and store payments within a single account. The product also comes with competitive pricing, as low as a 0.8% + €0.02 per transaction fee on domestic cards and a one-off cost starting at €49 or customized pricing for the businesses dealing with high volumes.
Revolut Reader is built for any kind of business – big or small, entrepreneurial or corporate giant, new merchant or one-stop-shops – in all industries. By opening a Merchant Account with Revolut Business, a customer can connect a business account to Revolut Reader and gain free access to the growing suite of smart Revolut Business tools (local and international payments, foreign exchange at interbank rate, payments requests, expenses, subscriptions and company cards management, payroll). Moreover, Revolut Reader customers can tap into a network of more than 45 million consumers who are checking out with Revolut.
