Can Revolut Really Compete with PayPal?

Revolut is a trusted London, UK-based financial technology company that offers banking services, allowing users to pay for goods at thousands of online merchants. It can also be used to send and receive money. The company recently launched a one-click payment feature, which is now available to use at online checkouts, and its goal is to rival other major online financial payment processing companies, such as PayPal, Apple Pay, Barclaycard, and Worldpay, to name just a few.

Can Revolut really compete with PayPal? Find out more about this perfectly secure online payment solution right here.

What is Revolut?

Revolut is a relatively new online payment solution that allows you to make payments online. You can also use your Revolut debit card to pay for everyday goods in shops and restaurants, for example, or wherever MasterCard or Visa is accepted. The company also offers savings and investments.

It’s like a bank, yet there are no physical banks. You can start receiving money as soon as your account is active, and the registration process takes less than a couple of minutes to complete. You can download the app directly to your phone, plus you can also sign into your online account via your web browser using either a desktop or laptop computer. Before you can start using Revolut to pay for things, you need to top up your account by linking it to your bank account, debit or credit card.

When logged in, you can add funds to your Revolut account simply by clicking on the ‘add money’ button and choosing the ‘directly from your bank’ option to send money. As soon as there’s money in your Revolut account, you can startpaying for things and sending money to friends or relatives.

This fast, secure, and reliable fintech e-money institution is supported in over 200 countries and regions. However, at the time of writing, the only places that do NOT yet accept Revolut are:

North Korea
South Sudan
Syrian Arabic Republic

What are the benefits of using Revolut?

Some of the main benefits of using Revolut are the fact that there are no limits to how much you can spend. However, cash withdrawals from an ATM are currently limited to £200. Don’t forget that you can use Revolut wherever MasterCardand Visa is accepted, and the number of merchants is growing all the time. It’s a super easy checkout experience each time, and it’s one of the fastest and most convenient new payment solutions out there today.

Revolut cards and casino gaming

Online casino players can also benefit from using Revolut to deposit and withdraw at a growing number of sites. For example, some of the latest PayPal casinos also now accept Revolut as a viable payment solution. It’s also possible to trade cryptocurrencies from within your Revolut account.

What types of cards does Revolut offer?

The company offers two different types of cards; physical cards and virtual cards (personal cards and company cards). They are both debit cards, not credit cards, and they are from Visa and MasterCard. The physical cards that you can carry in your wallet or purse come with the company’s name displayed on the front of the card, and if you turn the card over, you will see the cardholder’s name.

The back of the card also displays the three-digit security code (the CVC code), the card number and the expiry date. As soon as your Revolut account has been activated, you can instantly apply for a physical card in a few simple steps. Let’s just say that you’re applying for a company card. All you have to do when logged into your account is go to the ‘cards’ tab, click on the ‘order card’ button, and then choose a cardholder. Your very first card is free, and then any additional cards that you may require for your company will be charged at £4.99.

To activate your physical card as soon as it has arrived in the post, head back to the cards tab and then enter your 16-digit card number into the required field. As an added security measure, online payments and contactless payments can only be processed after your Revolut Visa or Mastercard physical card has been activated.

How to pay at the checkout with Revolut Pay

If you’re using your smartphone to pay for things with Revolut Pay, you will have to scan the QR code at the checkout. You will also be asked to confirm the transaction before it can be processed. It’s that simple.

Can Revolut rival PayPal?

Revolut recently launched a one-click mobile payment feature called Revolut Pay in an attempt to rival well-established online payment solutions, such as PayPal. While it’s still early days yet, it’s fast becoming the go-to payment method for mobile users. It has made online purchases much easier, and it’s being adopted by more and more large and small businesses at a rapid rate. Revolut is already better than PayPal for international money transfers and travel money, but only time will tell if it will become bigger than PayPal.