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Revolut to roll out QR code payments for business customers in 25 countries

AltFi | Aisling Finn | Feb 18, 2021

QR codes are coming closer to home - Revolut to roll out QR code payments for business customers in 25 countriesThe fintech’s business customers will be able to take payments via QR codes, helping to maintain social distancing.

Taking one step closer to becoming a ‘financial super app’, Revolut is rolling out QR codes for its business customers.

From today, Revolut’s business customers across 25 countries will be able to take in-person, socially-distanced payments via a QR code.

The touch-free payment method allows for instant payments, with small business owners able to see if a payment has been successful right away,

Paulo Guichard, product owner for Acquiring at Revolut said: “The popularity of QR codes has increased as this payment method is quick, easy and allows people to make socially distanced payments which are increasingly important during the global pandemic.”

“We’ve removed the need for additional devices or hardware, as all business owners have to do is use their Revolut Business app and show customers a QR code to accept payments straight away through this efficient and touch-free method.”

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Revolut Business customers can generate a QR code in the app which the customer can scan on their mobile phones from a safe distance.

The new feature will be rolled out to customers across Europe, including Croatia, Greece, Luxembourg, Slovakia, Slovenia and here in the UK too.

Revolut isn’t the first to introduce QR payments for its business customers.

Back in March 2020, ANNA Money, in collaboration with financial API provider TrueLayer, announced it would let its business customers settle payments using the method.

Similarly, messaging platform Whatsapp, which has extended its capabilities in several countries to include payments, allows customers in certain countries to pay using QR codes.

In China, the use of QR codes is far more popular, with social media platform WeChat launching WeChat Pay, which lets users pay via QR code, all the way back in 2013.

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NCFA Jan 2018 resize - Revolut to roll out QR code payments for business customers in 25 countries The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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