Euronet Worldwide’s division, epay, becomes global partner for value-added digital services of fintech Revolut
Epay, a segment of Euronet Worldwide (NASDAQ:EEFT), has partnered with Revolut, a leading fintech app, to enhance digital gift card and prepaid product offerings across 36 countries. This integration allows users to purchase gift cards from popular brands like Twitch, Ikea, and Nintendo directly through the Revolut app. This innovative collaboration marks Revolut as the first fintech with a cross-category marketplace, aiming to improve user experience and customer retention. Future expansions of marketplace categories, including wellness and fashion, are also planned.
- Partnership with Revolut expands epay's reach to 36 countries.
- Innovative cross-category marketplace enhances customer offerings.
- Access to well-known brands may increase user engagement and retention.
- None.
Thanks to an integration of its well-known gift card and prepaid portfolio, epay supports Revolut - a fintech app currently boasting 15 million customers worldwide - in its global expansion into 36 countries and opens up a new digital and mobile sales channel for its brand partner network.
LEAWOOD, Kan., May 17, 2021 (GLOBE NEWSWIRE) -- epay, a business segment of Euronet Worldwide, Inc. (NASDAQ:EEFT), 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.”
Interested brands please contact their existing epay contact or marketing@uk.epayworldwide.com
About 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.
Across our personal and business accounts, we help customers improve their financial health, give them more control, and connect people seamlessly across the world.
www.revolut.com
About epay:
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
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of digital media and prepaid mobile phone time.
Euronet's global payment network is extensive – including 36,777 ATMs, approximately 349,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 61 countries; card software solutions; a prepaid processing network of approximately 736,000 POS terminals at approximately 345,000 retailer locations in 60 countries; and a global money transfer network of approximately 475,000 locations serving 159 countries. With corporate headquarters in Leawood, Kansas, USA, and 66 worldwide offices, Euronet serves clients in approximately 175 countries. For more information, please visit the Company's website at www.euronetworldwide.com.
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