epay, business segment of Euronet Worldwide, is now the global partner for digital gift card and prepaid products for the UK’s leading fintech app, Revolut. The new partnership between Revolut and the full-service payment provider epay will span across 36 countries via an API integration into Revolut’s three apps (Consumer, Business and Junior). Launching in April 2021, epay began providing Revolut customers across these countries with access to an abundance of well-known digital content at both a global and local level across food, entertainment, lifestyle, gaming, health and wellness, home office and office categories from brands such as Twitch, Ikea, Nintendo, and Spotify Premium. With this access, Revolut customers have the ability to buy, gift and be rewarded with gift cards and digital content easily and seamlessly all without ever having to leave their Revolut app. In addition to the phase 1 countries launched in April (includes the UK and much of Europe), other countries and core markets will quickly follow in the coming months such as the United States and Australia as well as an expansion of the Business app roll out which will primarily begin in the UK.
Worldwide expansion of Revolut with a cross-category marketplace
Until now, there has been no fintech app with a cross-category marketplace, making Revolut the first fintech provider in the world to offer these attractive value-added services to its customers on such a broad scale. This supports the company’s mission, which is to offer the world’s first truly global “one-stop financial app” with a range of benefits for all consumers. Additional digital services such as being able to buy and send gift cards and prepaid products from users’ favorite brands direct from the app further serves this mission as well as helping to attract new customer groups to the app meaning a higher degree of mobile application use and increased customer benefit and retention.
“Our customers are primarily millennials and digital natives who expect a financial app to offer attractive additional services as well as a perfect user experience—we enable both of these with epay’s flexible API integration,” explains Maisum Dairkee, Product Owner at Revolut. “epay’s API integration not only provides access to a broad range of scalable content to meet all customer needs at both a local and global level, but it also serves to provide a perfect and seamless customer experience without ever having to leave the app.”
Partnership with vision and potential
The partnership will quickly expand. In addition to the 36 countries currently planned, epay’s value added services will form part of the standard Revolut proposition for every other international launch of Revolut in the future. The existing categories will also be further expanded. For example, popular categories of wellness, beauty, health, fitness, and fashion are on the radar of both companies and are valued as core categories for future growth.
The relationship with Revolut is a groundbreaking partnership for epay.
“Our technical solution and processes allow us to provide Revolut with value-added services through a single API as a full-service payment provider,” said Kevin Caponecchi, Executive VP and CEO, epay, Software and EFT Asia Pacific Division. “This means we go beyond the classic role of a gift card provider and instead become more of an infrastructure partner for a worldwide roll-out. We want to help fintechs like Revolut provide their customers with the exact content they expect or have always wanted. We are also showing our 2000 + existing gift card and prepaid portfolio of brand partners, new ways of connecting with their customers by opening up new digital and mobile sales channels such as Revolut.”
Revolut are building the world’s first truly global financial superapp. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, our 15 million customers around the world use dozens of Revolut’s innovative products to make more than 100 million transactions a month.
epay is a world-leading full-service payment provider for payment processing and prepaid solutions that processed 2.4 billion transactions in 2020. The company has built up an extensive network of retailers with 736,000 point-of-sale terminals in 60 countries, to connect renowned brands with consumers all around the world. The company offers a portfolio of gift cards (prepaid, closed loop and digital media), business incentives and payment solutions (card acceptance, terminals, e-commerce, mobile and Internet of Payment) for omnichannel commerce, and offers its services thanks to its proprietary cash register integration software. epay is a segment of Euronet Worldwide, Inc. (NASDAQ: EEFT), a Kansas-based company which earned $2.5 billion in revenue in 2020, employing a staff of over 8,000 employees and serving customers in 175 countries.