Revolut is rolling out a POS terminal device for larger businesses in the UK and Ireland in advance of Black Friday and the busy festive shopping season.
The fintech giant is promising 99.9% platform uptime for uninterrupted sales using the device, which is available on exclusive pre-sale at a cut rate of £129 + VAT down from £169 +VAT.
The terminal is fully integrated with Revolut Pay, the fintech's one-click payment method which enables users to make payments directly from their Revolut account without entering card or bank details. Customers making use of Revolut Pay also earn RevPoints, which can be redeemed for discounts on spending. Revolut Pay transactions will in turn offer merchants lower fees of 0.5 per cent plus £0.02.
The Terminal can also be paired with the company's Point of Sale software to give merchants access to analytics, table mapping, multi-location management and customer catalogues.
The launch comes as Revolut Business’ annualised revenue surpasses $500M globally as the group commits to doubling down on its B2B offering and driving investment into product innovation.
Alex Codina, general manager of merchant acquiring at Revolut, comments: “We’re excited to be offering Revolut Terminal as an all-in-one, powerful POS solution for our business customers. This launch comes as we continue to invest into our B2B offering and particularly double down on the hospitality and retail industries as an acquirer."
While Revolut already offers a card reader and iPhone Tap-to-Pay for smaller businesses and freelancers, the new POS Terminal is aimed squarely at larger businesses, competing directly with fellow fintechs Square, Dojo and SumUp, alongside tradtional banking offerings.