- Mobile Wallets allow Revolut customers to send money abroad quickly using only recipient IDs such as their name alongside their phone number or email addresses
- Revolut customers in the UK and most European countries (EEA) can now send money to Bangladesh (bKash), and Kenya (M-Pesa), with other wallets routes expected to be launched soon.
Revolut, the global financial super app with more than 35 million customers worldwide has launched Mobile Wallets, a new quick and easy option to sending money abroad.
Mobile Wallets redefines remittance experiences by offering a low-friction, intuitive process. Users send money abroad quickly using only recipient IDs such as their name alongside their phone number or email addresses. Mobile Wallets reduce potential risks associated with some traditional payment methods such as money being sent to the wrong account details or money being stuck with banks. Now, Revolut customers in the UK and most European countries (EEA) can send money to Bangladesh (bKash), and Kenya (M-Pesa) using Mobile Wallets, with other wallets routes expected to be launched soon.
Countries like Bangladesh and Kenya heavily rely on Mobile Wallets for various transactions, making Revolut’s entry into these two markets timely and impactful. Customers can now seamlessly send money to bKash, and M-Pesa directly from their Revolut app, offering a handy mobile payment option for expats and international students living abroad.
Akshat Mittal, General Manager for Revolut International Payments, said,“We’re delighted to launch Mobile Wallets so that Revolut customers can send money in a flash. Sending money home is a problem many expats face and so it is essential to provide a service that simplifies this and facilitates affordable and convenient international money transfers.
“By continuously adapting to the evolving needs of the digital economy, we hope to continue to empower individuals and families around the world to navigate the complexities of cross-border finance with ease.”
Mobile Wallets offer an additional way to send money abroad quickly and with a similar price structure as Revolut bank transfers. The potential benefits are greater ease, less friction and a wider choice, as customers will be able to transfer to wallets they like to use at home.