Revolut to provide online payment solution to Maltese businesses

Businesses in Malta will soon be able to accept card payments online through Revolut Business as the popular payment system provider moves to compete with companies like Stripe and Adyen.

Revolut Business will be launching its acquiring solution in Malta and 15 additional European countries, bring the total number of European countries where businesses can accept card payments directly into their account to 29.

The off-the-shelf product will form part of Revolut Business’ starter pack, providing companies with an end-to-end solution to help them manage everything in one place.

Business customers in Malta can take advantage of low fees and very competitive rates, with a 1.3 per cent fee for UK and EEA consumer cards, and a 2.8 per cent fee for all other cards. Revolut Business customers on paid plans will also receive an allowance of free UK and EEA card payment acceptance every month at no additional cost.

Revolut Business promises to help businesses manage their finances and accept payments online hassle-free, using Revolut Business’ easy-to-install checkout plugins or building their own checkout experience using the customisable widget and Merchant API.

Additionally, businesses can request payments from anyone anywhere in the world, without the need for a website or online store, by using an easy, fast and secure payment link that can be shared with customers.

The new functionality enables Maltese businesses to manage everything in one place, without the need to alternate (and reconcile) between acquiring and banking platforms. Customers with a Revolut Business account will benefit from seeing payments settled the next day, allowing for quick access to business funds and improved cashflow.

Companies can look to expand into new markets and regions without worrying about incurring additional fees. Businesses can save on currency conversions and accept payments in 14 currencies (EUR, GBP, USD, CAD, CHF, JPY, AUD, HKD, SEK, DKK, NOK, NZD, PLN, ZAR). Funds can be kept in the same currency or converted to another currency at the interbank rate to help save on foreign exchange.

“Payments sit at the core of any business so we have crafted a solution that meets not only their business account demands but also their payment acceptance requirements,” Nik Storonsky, CEO and Founder at Revolut, said.

“Companies across Europe know that it’s now essential to their success to be able to do business online. That’s why we introduced a new secure way to accept payments through websites and we have enabled Maltese customers without an online presence to get paid fast through secure payment links. Our mission is to democratise acceptance and we are already on the way.”