The British fintech startup Revolut has entered into an agreement with the payment giant Visa, under which it will begin work in 24 new markets, including in Russia. It is reported by Reuters with reference to the head of the Revolut Nikolai Side.
By the end of this year, the service will be available in eight countries, including the Russian Federation, Brazil, Japan and the United States. Revolut plans to enter the markets of Latin America and Asia in 2020.
According to Party, the expansion will depend on the regulators of different countries, from which it is necessary to obtain appropriate permits.
In partnership with Visa, the company plans to issue at least 75% of all cards.
Revolut expects that entering the global market will double or even triple the number of users. Now the company's customers are about 8 million people, and the total amount on deposits is more than 8 billion euros.
Revolut will employ up to 3,500 new employees to implement these plans.
Revolut cards allow you to exchange one currency for another without bank fees, converting funds at the average market rate.