Tag: Revolut

Singapore – The Singaporean arm of fintech platform Revolut now has a ‘donation’ feature which enables them to instantly round up their card payments and donate their spare change to charity. 

Through the new service, customers have the option to make a one-off donation or set up recurring contributions, which can be terminated at any time. Donations have no minimum amount. 

The new ‘donation’ feature will initially start off with three local-based charity groups: The Singapore Red Cross, The Singapore Cancer Society, and Club Rainbow (Singapore). Revolut said it will be adding more charities in the platform over the course of this year.

“Supporting social causes is both important to us as a business, and to many of our customers. Complicated sign up processes and scary commitments can put a lot of people off, so we wanted to build a feature that would enable our customers to support good causes in a seamless and secure way,” said James Shanahan, CEO of Revolut Singapore, 

Revolut has been recently ramping up its new features for the platform, including sending e-hongbaos for the upcoming Chinese New Year, the enabling of bank top-ups and the launch of its web app.

Singapore – In response to encouragement from the Monetary Agency of Singapore to give electronic hongbaos instead of physical ones in the upcoming Chinese New Year celebration, financial app Revolut  has now enabled the sending of e-hongbaos using its Gifting feature.

The handing of Hongbaos is a tradition in several East and Southeast Asian countries which are red envelopes containing cash, given out as a token of good fortune in occasions such as baptisms, weddings, birthdays and festivals. 

Under Revolut’s new e-hongbao feature, users can send in 28 currencies, including Australian dollars (AUD), Hong Kong dollars (HKD), United States dollars (USD) and the British pound sterling (GBP). The e-hongbaos will also feature special designs provided in the Gifting platform.

“With the Monetary Authority of Singapore encouraging people to give e-hongbaos instead of physical ones for Chinese New Year, it has become a necessity to make it easy for everyone to give hongbaos in a safe, frictionless and fun way, said James Shanahan, CEO of Revolut Singapore.  

“Revolut has expanded beyond our origins as a multi-currency travel card. Our foreign exchange (FX) feature can be used for remittance, gifting, and online shopping, where customers will always be assured they are getting the best exchange rates,” added Shanahan.

The e-hongbao feature on Revolut SG will be available on February, the month for the Chinese New Year.

Singapore – UK-based fintech company Revolut in Singapore has recently announced the launch of two features in their platform: the Revolut Web App and Revolut account top-up via bank transfer.

Revolut’s latest web app, accessible in laptop and desktop computers.

The first one, Revolut Web App, now allows users to log in to their Revolut account via their desktops or laptops. Users signing in through the web app are protected by Two-Factor authentication (2FA), and can also overview transactions, freeze or unfreeze cards, block their PIN, and top up their account via bank transfer, debit or credit card, or via Apple Pay.

Commenting on the new launch, Revolut CEO and founder Nik Storonsky said, ““Account access through a browser is highly requested by our customers, so we’re delighted to have built a safe and convenient web app that everyone can use when they need it. Our customers can now access their money anywhere and at any time, even if they don’t have their phone or card, or if they simply prefer checking their account from a computer. It’s great to have the extra convenience and flexibility of an online option.”

A user interface depiction of Revolut’s mobile app dashboard, featuring topping up the account via bank transfers, such as DBS Bank in Singapore.

Meanwhile, Revolut has also partnered with DBS Bank in Singapore in enabling its customers to top up their wallets via bank transfers. With the new partnership, Revolut is able to assign a unique 15-digit virtual account number to each customer in Singapore, in which the customer transfers money to their virtual account from their bank, and the amount is reflected in their Revolut app.

James Shanahan, CEO of Revolut Singapore, said, “The goal here is to enable customers to manage their money in a way they find most convenient for their lifestyles. With virtual accounts, Revolut Singapore is able to collect payments from a large number of customers and still easily keep track of their transfers. This process will give our customers peace of mind, thereby improving overall user experience.”

Head of Growth at Revolut Singapore Pam Chuang also commented, “Topping up via your local bank account is fast and convenient. With the virtual account feature, Revolut is, once more, able to help our customers better manage their money. When we introduce new wealth and money-management products, this will give our customers visibility of how they are using their money.”

Singapore – UK-based fintech company Revolut is expanding its Singapore regional team by adding two more key persons to the company’s local growth team.

Sam Chui is Revolut Singapore’s new senior marketing manager, wherein she will be responsible for leading new marketing initiatives and exploring new creative ways to engage with potential customers. Prior to her current position, she has worked previously with marketing brands for UOB, Singtel, and Eu Yan Sang.

“Revolut has been sinking its roots deep into the local market and the opportunity to help drive its growth in the years to come greatly excites me,” Chui says.

Meanwhile, Deborah Tan-Pink, former CEO of edtech startup SmartUp, joins the company’s local rank as senior communications manager, where she will be responsible for brand awareness, media, and public/private organization connections.

“I’m excited to see what wonderful stories we can build around Revolut and its services,” she says. “We mustn’t forget that, ultimately, a customer needs to see how a service fits into their lifestyle and personal aspirations,” Pink stated.

Both of the two new hires will report to Pam Chuang, Revolut Singapore’s head of growth.

With the regional branch of Revolut reaching its first anniversary, Revolut Junior, an app for teaching kids on financial management and Revolut Business, an app for opening business bank accounts, are some of the upcoming services the company will offer this year.

Singapore – Fintech Revolut in Singapore has tied up with micro-insurance provider SNACK to offer its products to its customers. 

Developed by direct insurer NTUC Income, SNACK’s main value proposition is “bite-sized” lifestyle insurance products that can be availed through small premium contributions starting at S$0.30. It offers three main types of policies, namely, life, critical illness, and personal accident protection. 

The “lifestyle-based” in their products refers to the unique way in which SNACK enables individuals to purchase a policy whenever they perform a daily activity or its so-called “lifestyle trigger.” These activities include petrol top-ups, groceries, and dining out. Whenever an activity is completed, a micro-insurance policy will be issued and the premium will be charged to the selected payment mode on SNACK. The coverage grows each time the person completes a trigger, and the sum of all effective policies at that point in time becomes the total coverage amount.

In celebration of the partnership, SNACK will be offering a one-time free S$500 insurance coverage to all Revolut customers who will successfully register on SNACK.

On a LinkedIn post, Revolut’s Head of Growth Pam Chuang said that the partnership allows the company to create a better connected digital ecosystem that leverages the strengths of each other’s platform. 

“SNACK’s modular approach to bite-sized microinsurance fitted to lifestyle needs complements Revolut’s all-in-one personal financial super app, optimizing the customer experience to drive greater empowerment with today’s digital-first lifestyle, where convenience, customization, and flexibility are key,” wrote Chuang.

Revolut was first launched in the UK in 2015. It offers services such as money transfer and exchanges as well as budget planning.