- Revolut has introduced an iPad point-of-sale application tailored for the hospitality industry, expanding its suite of fintech solutions for businesses.
- With its new point-of-sale (POS) solution and card reader, Revolut empowers companies to monitor sales trends, manage inventory, and optimize operations seamlessly.
- Alex Eguileor, Revolut’s manager of merchant acquiring, emphasises the user-friendly interface and competitive transaction fees starting at 0.8% plus $1.27, positioning Revolut as a competitor to established players like Square in the POS market.
Revolut, a global neobank and financial technology company, has launched an iPad point-of-sale application designed for companies in the hospitality sector.
Revolut introduces POS solution
Neobanks are fintech firms that offer apps, software, and other technologies to streamline mobile and online banking, including point-of-sale (POS) devices used by retail customers to process transactions.
The new point-of-sale (POS) solution, when combined with the Revolut card reader, allows companies to monitor sales patterns, assess inventory levels, and make informed decisions based on data.
Also read: Revolut’s AI security slashes fraud losses by 30%
Revolut challenges established business
Users can manage their operations from a single screen. Additionally, they can assign tables to orders directly from the POS, add items to existing orders, and easily identify which tables are available or occupied through color-coded indicators.
According to Alex Eguileor, general manager of merchant acquiring at Revolut, “Revolut Point of Sale embodies our dedication to customer-centric solutions for thriving businesses in today’s dynamic market.
“Its user-friendly interface and robust features streamlines the way businesses manage store operations, while our low transaction fees and 24-hour settlement ensure swift access to funds without business delays. We’re looking forward to seeing more and more stores and restaurants growing their business by leveraging the rich ecosystem of Revolut products.”
Also read: Revolut takes action against Meta Platform scams
Transaction fees for the POS system start at 0.8% plus $1.27.
The launch brings the company into direct competition with the likes of Square, which charges transaction fees starting at 2.6% + $0.10 for in-person transactions.
