Tag: Revolut

Singapore – Fintech company Revolut launches eSIMS and global data plans in Singapore to provide its customer with seamless connection when travelling. Revolut has collaborated with telecommunications company 1GLOBAL to launch the eSIM.

Offering coverage in over 100 countries, Revolut’s eSIM launch allows customers to stay connected cost-effectively, eliminating roaming charges.

Revolut customers can access the eSIM on compatible devices regardless of the plan they are on, enabling them to buy and activate it on the app. Since it is fully digital, the eSIM can be used along with other existing physical SIMs.

Additionally, it allows customers to use the Revolut app without mobile data, which means that they can top up data upon landing in a different country.

Data plans will range from 1GB to 100GB, with prices varying for each location. Customers can also choose among regional or global data plans, depending on their travel needs.

Revolut is also launching eSIMs in Australia, New Zealand, and Japan. 

Raymond Ng, chief executive officer at Revolut Singapore, commented, “At Revolut, we aim to simplify our customers’ lives and make things as easy and convenient for them as possible. This is exactly what our latest product, eSIMs, accomplishes. It offers seamless and cost-efficient access to mobile data, saving customers money and the hassle involved in organising and managing multiple physical SIM cards.”

“Whether you are in the US, Australia or Egypt, you can effortlessly secure a data plan with just a few taps on your phone, and then instantly share those breathtaking photos of your trip with friends and family. It’s a game-changer for people who love to travel internationally and it is built for the global citizen of today,” Ng added.

“By joining forces, Revolut can leverage 1GLOBAL’s worldwide mobile network and market leading eSIM platform to enhance their own international technological infrastructure. 1GLOBAL provides quick and secure mobile network connectivity in over 160 countries worldwide. Our eSIM technology integrates seamlessly into the existing Revolut app and can be installed on any eSIM-compatible mobile device in less than a minute,” Hakan Koç, founder and chief executive officer of 1GLOBAL, said.

Singapore – In a bold step toward redefining financial access for Gen Z, Revolut Singapore has unveiled its first-of-its-kind vending machine at the National University of Singapore (NUS). In partnership with Visa, this innovative machine dispenses free debit cards, catering to the unique financial needs of students. 

MARKETECH APAC spoke with Raymond Ng, CEO of Revolut Singapore, to delve into the vision and impact of this initiative. In this conversation, Ng explored the inspiration behind the concept and how it aims to empower students by transforming the way they approach and manage their finances.

A global vision rooted in local needs

Revolut’s debit card vending machine aims to serve students below the age of 21. The company aims to make money management more accessible to students and educate them on healthy and smart financial habits, boosting financial literacy. 

“Students under 21 are often underserved by traditional financial institutions, missing out on tailored solutions that meet their unique needs. Banks frequently impose higher entry barriers, such as requiring a minimum deposit, leaving many students without effective tools to manage their finances,” Ng explained. 

Ng also highlighted that for many Singaporean students, studying abroad, interning overseas, or frequent travel has become the norm. However, he noted that the high foreign transaction fees—reaching up to 3.25% per transaction—on standard debit cards can place a significant financial burden on them.

Revolut’s vending machine addresses these gaps by offering students instant access to debit cards, eliminating the need to visit a bank. It also provides comprehensive financial tools, including budgeting, spend tracking, and fee-free currency exchange, promoting healthier money habits. Additionally, the Revolut app offers educational modules, like ‘Stock Learn,’ that help students start investing with as little as $1, fostering financial literacy.

In partnership with Visa, Ng further emphasised that the collaboration gives Revolut customers access to Visa’s global network, accepted in 200 countries and by over 100 million merchants worldwide.

“While many students already have debit cards, Revolut offers more than just a payment tool. We provide an integrated financial ecosystem designed to help them spend, save, invest, and manage their finances wherever they are—on campus, at home, or abroad,” Ng added.

A model for future expansion

Revolut’s vending machine not only simplifies access to essential financial tools but also reflects the company’s commitment to promoting financial literacy and independence. 

According to research by Visa, nearly 40% of Gen Z consumers say that convenience plays a crucial role in their choice of payment methods. The same percentage also highlighted that better rewards and offers would motivate them to switch to alternative payment options, as Ng pointed out.

With features such as group expense splitting, spend analytics, and smart budgeting, Revolut positions itself as a trusted partner in students’ financial journeys.

When asked why NUS was chosen as the launch site, Ng explained that the decision was strategic. As Singapore’s largest and most established university, NUS serves as a hub for the country’s diverse, tech-savvy Gen Z population, making it the perfect fit for Revolut’s digital-first approach. 

Ng also shared plans to expand the initiative, ensuring that more students can benefit from Revolut’s offerings.

“The vending machine at NUS is our first in Singapore, and we’re definitely looking to extend this value proposition to other locations across the country so that even more people can take advantage of the convenience and accessibility it provides. Stay tuned,” Ng said.

Leading innovation in fintech

In a region where digital adoption is high, Revolut’s vending machine exemplifies how fintech can cater to the needs of a digitally native generation. 

“By offering instant access to debit cards and integrating features like smart budgeting, multi-currency spending, and investment education, Revolut empowers young users to take control of their finances while showcasing its commitment to creating innovative, localised solutions in a competitive fintech landscape,” Ng stated. 

As Gen Z increasingly seeks convenience, affordability, and education in their financial products, Revolut’s vending machine stands out as a timely solution, paving the way for a financially savvy generation.

Singapore – Revolut, a global fintech company, has launched a debit card vending machine at the National University of Singapore (NUS).

In partnership with Visa, Revolut’s initiative aims to provide students with access to financial services. Since some students below the age of 21 may not have access to traditional banks, Revolut can provide them with debit cards and access to money management tools.

The Revolut cards enable students to send and receive money locally and internationally, use budgeting and analytics features, and enjoy incentives such as cashback. It also allows them to start their investments.

Revolut also offers a group bills feature, which allows students travelling in groups to settle payments regardless of the currency in the app. The app also allows users to store up to 34 currencies and spend in more than 150 currencies worldwide.

Additionally, students can use a virtual card and add it to their e-wallet, enabling them to use it in both physical and online stores.

Raymond Ng, chief executive officer at Revolut Singapore, said, “We are always looking for new and innovative ways to make money management accessible to our customers. We are really excited to launch Singapore’s first-ever debit card vending machine in one of the most established and largest universities here, making it easy for students to get their cards. Whether it’s spending in 150+ countries around the world, splitting bills seamlessly with friends, saving for a new Playstation or learning about various investing tools, Revolut will be their all-in-one money companion.” 

“At Visa, we believe in the power of collaboration and innovation. Working with valued partners like Revolut, who are at the forefront of creating innovative products tailored for the Gen Z segment, is crucial. These products not only help young people manage their money effectively but also educate them about investments, supporting their financial journey,” Adeline Kim, Visa country manager for Singapore & Brunei, said.

“Based on our Gen Z research, close to 40% of Gen Z consumers indicate that convenience is a crucial factor in determining which product they use to pay, and the same number highlighted better rewards and offers would make them switch to alternative payment methods. By providing easy access for the youths to obtain their debit cards through the vending machines at NUS and providing great cashback when they shop and pay, we help to support this next generation to take control of their financial future,” Kim added.

Singapore – Global financial superapp Revolut has officially launched a first-of-its-kind, limited edition 24-karat gold-plated card for its users in Singapore.

Revolut’s new gold card underscores the company’s goal of continuously providing its users with a variety of eye-catching card designs that are not only innovative but also involve the customers in the creative process.

Made through a meticulous design process, the limited edition card is carefully crafted from a single sheet of reinforced steel that is plated in real 24-karat gold. Users who will have the opportunity to have the card must handle it with care and not combine it with sharp objects to avoid any scratches on its soft and real gold plating.

The gold card can be redeemed for free by the app’s top 100 spenders from December 1, 2023, to January 31, 2024. Another set of cards will also be given for free to the top 50 spenders in December 2023 and 50 in January 2024.

Revolut’s luxurious 24k gold card is the newest of its exclusive designs, following its current metal card offering that is available in lavender, rose gold, space grey, and black. The company is also offering personalised cards to customers on paid plans, where they can add emojis or freehand drawings to their cards.

Ashley Thomas, head of strategy and operations at Revolut Singapore, said, “We are always looking to provide our customers with card designs that are unique and reflect their personalities. Our users carry their Revolut card almost everywhere they go, across the world. Why not add some character and flair to each transaction they make? The 24-karat gold-plated card is made for those who are looking to add some luxury to their lives.”

Singapore – Global financial super app Revolut has onboarded two new animal welfare charities namely, Society for the Prevention of Cruelty to Animals (SPCA) and SOSD, to its in-app donations platform in Singapore.

To encourage Singapore customers to support SPCA and SOSD, Revolut Singapore will be enabling personalised cards for all customers, with S$2.00 going straight to the aforementioned charities.  

Through this initiative, Revolut Singapore customers can play a part in supporting these organizations while at the same time getting their very own personalised card which they can design to show their love for animals with emojis, sketches and / or names of their pets. Additionally, they can also go directly to the Donations platform in-app and make a donation to the charity of their choice.

Furthermore, Revolut Singapore is also holding a social media giveaway, where customers can upload a photo or story of their personalized card on Instagram with the hashtag #MyPawsomeRevolut and tag @revolutapp, @spcasingapore and @sosdsingapore. The five most creative designs will win prizes, including a 6 months free Metal membership from Revolut, and prizes from SPCA and SOSD.

Ashley Thomas, head of strategy & operations at Revolut Singapore, said, “We are thrilled to partner with SPCA and SOSD to support the vital work they are doing. At Revolut, we are always looking for ways to make a positive impact on society and this partnership allows us to do just that.”

“By ordering their very own personalised card, customers can play an important role in supporting these charities. They can also make additional donations through our in-app Donations platform, enabling them to give back to the community and support causes they care about in a simple and effective way,“ she added.

Meanwhile, Aarthi Sankar, executive director at SPCA, also commented, “The SPCA is very grateful for partners like Revolut who share our commitment to animal welfare. Companies like Revolut exemplify the essence of social consciousness by ingeniously crafting pathways that not only align with their goals but also rally more individuals to champion impactful causes. They bridge the gap between commerce and compassion, cultivating a community of individuals who are not only customers but also compassionate advocates.”

Lastly, Magdalene Eng, head of outreach and fundraising at SOSD, mentioned, “SOSD is delighted to announce our collaboration with Revolut. All proceeds from the donations will be dedicated to SOSD, ensuring that it benefits the dogs in need.  We are grateful for this collaboration and the chance to improve the lives of our street dogs.“ 

Singapore – In its recently released Bank and Payment Brand Rankings 2022, market research company YouGov unveiled that local banks DBS and POSB have snagged the top spot in Singapore. 

DBS led the list with a total score of 41.0, followed by POSB at 34.2 points. Digital payment company VISA came in third place with a score of 26.8 while Singaporean bank OCBC followed closely at 26.1.

Completing the top ten is Mastercard at 25 points, commercial bank UOB with 22.9 points, Paypal with 22.1 points, Citibank with 14.7 points, Standard Chartered Bank with 12.5, and American Express at 9.8 points. 

YouGov also revealed the most improved brands in the financial services sector, including Paypal and digital banking app Revolut, both with a +1.1 change in score. Other banks on the list are Mastercard and UOB, who had improved scores of +0.3 each.

The rankings are based on YouGov BrandIndex’s positive consideration score, which measures the percentage of a brand’s customers who would consider it when next in the market to make a purchase.

The brands were ranked between October 1, 2021, and September 30, 2022. Moreover, the scores were rounded to a single decimal place with additional precision to assign ranks.

Meanwhile, the improvers were determined by their change in score between the said period and the previous twelve months. 

YouGov has also previously released the overall brand rankings in Singapore, unveiling Singapore Airlines as the top brand for 2022.

Singapore – Global financial superapp Revolut has appointed Raymond Ng, chief commercial officer at Liquid Group, to be its new CEO for Singapore. This follows Revolut’s recent launch of its crypto products in Singapore.

In his new role, Ng will be focusing on leading and building the next chapter of Revolut’s expansion in Singapore, developing and implementing the local business strategy. 

During his previous stint at Liquid Group, Ng managed product and business development and global expansion. He also held senior executive roles with large global corporations such as Microsoft, Visa, and MasterCard, as well as with tech startups.

Revolut said it is committed to establishing Singapore as one of the cornerstones of its global business and plans to establish several global product hubs.

Commenting on his appointment, Ng said, “I’m thrilled to lead the exceptionally talented team and bring Revolut’s super app offering to Singapore as we continue to develop the best financial solutions for millions in Singapore, especially those who are looking for hassle-free digital alternatives to get more from their money.”

Meanwhile, Nik Storonsky, CEO and founder of Revolut, noted, “With a wealth of experience in the mobile, payment and travel tech sectors and an outstanding track record in scaling the business across new markets in the APAC region, Raymond is an excellent fit for the role and his appointment is a major achievement in our continued mission to become the world’s first truly global financial superapp.” 

In April 2022, Revolut has appointed Charles Debonneuil as APAC general manager as it continues to focus on growth in the APAC region. Debonneuil will focus on building out Revolut’s local Growth teams and developing the business’ growth strategy, driving rapid new user acquisition in the APAC region.

Singapore – Revolut, a global financial superapp, has appointed Charles Debonneuil as APAC general manager as it continues to focus on growth in the Asia-Pacific region. Debonneuil will focus on building out Revolut’s local Growth teams and developing the business’ growth strategy, driving rapid new user acquisition in the APAC region.

Debonneuil holds a Masters’ in Management from HEC Paris, during which he also studied at the Wharton School of Business in USA and Tsinghua University School of Economics and Management in China.Prior to joining Revolut‘s APAC team, Debonneuil was thepresident of Intrepid Group, a prominent e-commerce solutions provider for global clients, where he oversaw the growth of the company to over 300 workers across Asia.

Debonneuil is also a co-founder and former chief marketing officer of Lazada,thee-commerce platform in Southeast Asia that was acquired by Alibaba in 2016. He oversaw the growth of the business which today boasts approximately 160 million Monthly Active Users across 6 countries.

On his appointment, Debonneuil said, “I’m delighted to join the Revolut team. Revolut’s mission to build a global financial superapp is very exciting, and I’m looking forward to enabling more users in APAC to benefit from Revolut’s product, which is at the forefront of global fintech.”

Meanwhile, Ankit Khemka global general manager and head of marketing at Revolut, said, “We’re thrilled to welcome Charles to Revolut as we double down on our commitment in the APAC region. As we continue to deliver more of our core products to the region, Charles’ extensive expertise is a valuable addition in helping us scale our presence in the Asia-Pacific market and getting our global superapp into the hands of more customers.”

Mumbai, India – Global financial superapp Revolut has appointed Paroma Chatterjee, former chief business officer of online financing company Lendingkart, to be its new CEO for the India team, as it expands its market presence in the country this year.

Chatterjee is a renowned leader in the fintech and consumer tech industry. She has held senior executive roles for various companies including travel agency Via.com, e-commerce company Flipkart, and telecommunications enterprise Airtel Money. In her new role, Chatterjee will be responsible for building and leading Revolut’s subsidiary in India. She will also be defining and implementing the fintech’s business strategy, as well as hiring a team and managing license applications and any potential acquisitions in the market.

According to Revolut, the fintech is making a multi-million-pound investment in India over the next five years and has committed to the creation of around 300 new jobs in the country to serve its global business operations. Furthermore, it has also recruited heads of operations and legal for the country and is leveraging India’s strong talent pool to recruit across multiple functions such as human resources, finance, growth, marketing, recruitment, and compliance, as well as risk, and technology.

Commenting on her appointment, Chatterjee said, “It is an honor and a privilege to be asked to lead the business for such a world-class company, in a country that presents one of the largest opportunities globally for Revolut. I look forward to building an exceptionally talented team and working with them, as we continue to develop superlative financial solutions for millions of consumers in India.”

Meanwhile, Nik Storonsky, the CEO and founder of Revolut, commented that Paroma is an excellent fit for the role and her appointment is a major achievement in Revolut’s continued mission to become the world’s first truly global financial super app. 

“We’re looking forward to transforming the way people in India access and manage their money as we bring our products and services to more people around the world. India is a core market in our expansion strategy with a huge supply of talent, and we’re excited to tap into that talent pool to help Revolut go from strength to strength,” said Storonsky.