FinTech firm Revolut is partnering with financial infrastructure platform Stripe to power its worldwide expansion plans into new markets and support payments in the U.K. and Europe.
“Revolut builds seamless solutions for its customers. That means access to quick and easy payments, and our collaboration with Stripe facilitates that,” David Tirado, vice president of business development at Revolut, said in a press release on Wednesday (July 6).
“We share a common vision and are excited to collaborate across multiple areas, from leveraging Stripe’s infrastructure to accelerate our global expansion, to exploring innovative new products for Revolut’s more than 18 million customers,” Tirado added.
See also: Revolut Takes on Square, PayPal in UK With POS Reader
Headquartered in London and founded in 2015 by CEO Nikolay Storonsky and CTO Vlad Yatsenko, Revolut first launched in the U.K. offering money transfer and exchange services and has since expanded its range of services to include accounts, insurance, trading, invoicing and more.
Revolut has 18 million customers and 500,000 businesses in more than 200 countries and territories. Its upcoming expansion plans include Mexico and Brazil, where it will leverage Stripe’s infrastructure and international footprint, according to the release.
Read more: Benchmarking the EU’s Digital Engagement: Germany
“Revolut and Stripe share an ambition to upgrade financial services globally. We’re thrilled to be powering Revolut as it builds, scales and helps people around the world get more from their money,” said Eileen O’Mara, EMEA revenue and growth lead at Stripe.
Dual-headquartered in Silicon Valley and Dublin, Ireland and founded in 2009 by brothers President John Collison and CEO Patrick Collison, the company powers digital and in-person payments and offers payment processing software and application programming interfaces for eCommerce and apps.
Related: Stripe Offers Bank Transfers to Businesses in UK, EU, Mexico
Stripe recently developed a bank transfer solution that was released in Japan earlier this year and became available to businesses in the United Kingdom, the European Union, and Mexico last month, PYMNTS reported in June.
The solution offers automated reconciliation, simplified refund and return processes, and integration into invoices, subscriptions and revenue recognition.
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