Revolut is launching a new point of sale terminal in Ireland to enable its business customers here to accept payments in person.
The device aims to compete with similar offerings from companies such as Square, Shopify and SumUp.
It is part of Revolut's growing offering aimed at business customers as it tries to grab market share in the corporate banking space.
"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," said Alex Codina, General Manager of Merchant Acquiring at Revolut.
"A truly reliable payment solution is the difference between closing the sale and losing money – with Black Friday round the corner, Revolut Terminal is built to withstand high customer demand; and it could be yours in time for the busy season at an exclusive, reduced rate."
The system integrates with the fintech’s business focused technology, allowing it to make funds available within 24 hours it claims.
Revolut Terminal has integrated Wifi and SIM connection, and the company claims its battery will last all day.
It also allows Revolut customers to pay directly from their Revolut app and earn loyalty points, at no cost to the merchant.
Transaction fees for Revolut Pay are 0.5% plus 2c.
Users can also pair it with Revolut’s point of sale software, so that they can see advanced analytics, table mapping, customer catalogues and other information.
Pre-orders for the device in Ireland will start in the next month and it will initially cost €139 plus VAT, down from €189 plus VAT.
During the summer Revolut Business breached the $500m in annualised revenue mark and is currently adding over 20,000 new customers per month globally, 550 of which are in Ireland.
In Ireland, its monthly processed transaction volumes have reached €774m and it counts among its customers Aer Lingus, O’Neills, and DID Electrical.
In total the company has more than 45 million customers around the world, including 2.8m in Ireland.
