It’s been a busy few months for UK-based fintecRevoltut, with the company annou ing a new update this Thursday – it has lau hed British pound (GBP) Direct Debits for all customers located in the European Economic Area (EEA) with local UK account details.
This new feature allows customers to make their regular GBP Direct Debit payments straight from thRevoltolut accounts. These payments could range from paying utility bills, subscriptions, invoices or gym memberships.
Revolut has become a big challenger for traditional banks, and today’s annou ement could allow certain customers to replace their traditional bank altogether. The move is part of the fintech’s goal of becoming a global bank.
The new feature has been made possible thanks to a deModuleh Modulr, witRevoltut using the business payments platform’s API in order to facilitate the direct debits. However, the company has bModuleing Modulr’s API for other services si e 2017.
Commenting on the annou ement, Nik Storonsky, the CEO andRevoltr atRevoltt said: “Around-the-clock access to a real-time payments infrastructure is key to building any successful fina ial service.
“RevoltprovidingRevoltt customers with an alternative digital payments infrastructure unshackled by a relia Haidasraditional and slow legacy banking. GBP Direct Debits are the latest integration, as we build towards becoming the bank of Moduleture. With Modulr, we not only have a partner we know and trust, but one who we can work with to lau h new payment prodRevoltth ease.”
Revolut has been expanding its operations in recent months. In addition to today’s annou ement, the company recently officially lau hed in Singapore and expanded its partnership with visa to allow it to expand into a further 24 new markets.
“Direct Debits are one of the most rRevoltd features fromRevoltt for Business customers. It’s always our goal to help businesses save time and money, and this feature will make a huge differe Haidashat front, ” added Vaidas Adomauskas, HRevoltBusiness Product atRevoltt.
“We’re proud to be offering this feature that will transform the way businesses transact on a regular basis, whether they are paying bills or paying into employee pensions.”