Revolut has taken a leap into the telecom sector by
introducing phone plans equipped with eSIM technology in the UK. This move
positions Revolut as the first financial services firm in the country to
venture into telecom offerings, marking a milestone in the evolution of
fintech.
Revolut’s eSIM service aims to provide users with
cost-effective solutions for international data usage, particularly, in the wake of escalating roaming charges
post-Brexit. The integration of telecom services into Revolut’s digital
ecosystem represents a strategic expansion of its platform.
It encompasses a wide array of financial services, such as
bank accounts, currency exchange, insurance, and travel bookings. By
incorporating eSIM phone plans, Revolut seeks to streamline the management of
both financial and telecom needs within a single platform.
The eSIM plans to cater to a wide spectrum of user preferences.
Customers using Revolut’s basic app will have access to standard eSIM plans,
allowing them to top up their phones as needed. Meanwhile, premium Ultra
package users will benefit from a more comprehensive offering, including 3GB of
global data with monthly refreshes, ensuring seamless connectivity across
borders.
Digital banking startup Revolut is launching travel eSIM plans in the U.K. that give users access to data abroad without suffering roaming charges. https://t.co/au5VBlX1Iz
— CNBC International (@CNBCi) February 12, 2024
The timing of Revolut’s eSIM launch is strategic, given the
recent surge in roaming charges for British consumers following the UK’s
withdrawal from the European Union. In partnership with UK mobile network
operator 1Global, Revolut aims to provide competitive rates that address the
pressing need for affordable international data usage, making it an appealing
option for frequent travelers and digital nomads alike.
Introducing “Mobile Wallets” for International
Transfers
Finance Magnates
reported that Revolut
has introduced “mobile wallets” for international money transfers,
allowing users to send funds using recipient information like name, phone
number, or email, bypassing complex bank details. This move targets efficiency,
benefiting expatriates and international students, and facilitating swift
transfers to countries like Kenya and Bangladesh.
With 500 million monthly transactions, Revolut’s expansion
in the digital economy aims to simplify cross-border finance, ensuring
affordability and convenience globally. The platform serves 35 million
customers and adjusts to evolving digital needs, showcasing its dedication to
supporting individuals and families globally.
Revolut has taken a leap into the telecom sector by
introducing phone plans equipped with eSIM technology in the UK. This move
positions Revolut as the first financial services firm in the country to
venture into telecom offerings, marking a milestone in the evolution of
fintech.
Revolut’s eSIM service aims to provide users with
cost-effective solutions for international data usage, particularly, in the wake of escalating roaming charges
post-Brexit. The integration of telecom services into Revolut’s digital
ecosystem represents a strategic expansion of its platform.
It encompasses a wide array of financial services, such as
bank accounts, currency exchange, insurance, and travel bookings. By
incorporating eSIM phone plans, Revolut seeks to streamline the management of
both financial and telecom needs within a single platform.
The eSIM plans to cater to a wide spectrum of user preferences.
Customers using Revolut’s basic app will have access to standard eSIM plans,
allowing them to top up their phones as needed. Meanwhile, premium Ultra
package users will benefit from a more comprehensive offering, including 3GB of
global data with monthly refreshes, ensuring seamless connectivity across
borders.
Digital banking startup Revolut is launching travel eSIM plans in the U.K. that give users access to data abroad without suffering roaming charges. https://t.co/au5VBlX1Iz
— CNBC International (@CNBCi) February 12, 2024
The timing of Revolut’s eSIM launch is strategic, given the
recent surge in roaming charges for British consumers following the UK’s
withdrawal from the European Union. In partnership with UK mobile network
operator 1Global, Revolut aims to provide competitive rates that address the
pressing need for affordable international data usage, making it an appealing
option for frequent travelers and digital nomads alike.
Introducing “Mobile Wallets” for International
Transfers
Finance Magnates
reported that Revolut
has introduced “mobile wallets” for international money transfers,
allowing users to send funds using recipient information like name, phone
number, or email, bypassing complex bank details. This move targets efficiency,
benefiting expatriates and international students, and facilitating swift
transfers to countries like Kenya and Bangladesh.
With 500 million monthly transactions, Revolut’s expansion
in the digital economy aims to simplify cross-border finance, ensuring
affordability and convenience globally. The platform serves 35 million
customers and adjusts to evolving digital needs, showcasing its dedication to
supporting individuals and families globally.
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- Source: https://www.financemagnates.com//fintech/revolut-dives-headfirst-into-telecom-sector-with-esim-plans/
