To facilitate payments in the UK and Europe, Stripe Inc. and Revolut Ltd.’s financial app have merged.
Revolut will facilitate payments using Stripe’s current infrastructure, according to the release. The London-based company may use the platform in additional regions in the future as it intends to expand into countries including Latin America, India, and the Philippines.
The company offers payment services in 30 currencies
Eileen O’Mara, Stripe’s EMEA Head of Revenue and Growth, stated, “We’re excited to be helping Revolut expand, scale, and assist people around the world get more out of their money.
In an effort to take on well-established banks and payment processors, both businesses have expanded from fledgling startups to expansive fintech enterprises.
Millions of businesses use Stripe’s software to transmit and accept payments. Most recently, Wise Plc. and supplier Klarna Bank AB joined forces with Stripe.
Revolut provides payment services in about 30 different currencies to both retail and commercial users. The company partnered with open banking platform Tink last month to enable users to integrate their bank accounts into apps.