Revolut Expands Its Reach with New Payment Terminal Targeting Larger Businesses

Fintech powerhouse Revolut is positioning itself to take on competitors like Square and SumUp with the launch of a new payment terminal aimed at larger businesses and retailers. The London-based firm will roll out the "Revolut Terminal" in the UK and Ireland ahead of the busy festive season, marking a significant push to expand its business-to-business services.

Having first introduced merchant acquiring products in 2021 under the Revolut Business brand, Revolut has steadily grown its presence in both online and offline payments. The new terminals will offer businesses seamless integration with Revolut Pay, a checkout option that allows Revolut’s 45 million global users to pay directly from the app. Users will also benefit from the firm’s loyalty program, earning “RevPoints” for purchases, while merchants enjoy lower transaction fees of just 0.5% plus £0.02.

The Revolut Terminal, when paired with the company’s software, will provide merchants with advanced tools such as analytics, table mapping, multi-location management, and customer cataloging. This holistic solution will help larger businesses streamline operations and improve customer service.

Revolut’s in-person payment processing has seen impressive growth, with more than 65,000 merchants using its services over the past year and a fourfold increase in the volume of in-person transactions processed.

“This is one of the major new bets we’re making as a company,” said Alex Codina, general manager of Revolut’s merchant acquiring business. “Our existing card reader and iPhone tap-to-pay products work well for small businesses and freelancers, but the new terminal is a strategic move into a new segment: larger SMEs, often with multiple locations.”

Codina also highlighted Revolut Business’s reliability, noting that the firm achieved 100% uptime on Black Friday last year, a crucial time for retailers. The new terminals are designed to maintain 99.9% uptime, even during peak periods, ensuring uninterrupted payment processing for larger businesses. “For bigger businesses, reliability is critical—there can’t be a single moment where payments aren’t being accepted,” Codina added.

While Revolut Terminal will directly compete with fintechs like Square, Dojo, and SumUp, Codina believes the company’s unique advantage lies in its ability to offer access to Revolut’s massive user base. “No other acquirer in Europe can market a merchant’s goods or services to over 45 million people—that’s a distinct competitive edge,” he explained.

Founded in 2015 as a digital payments and money transfer app, Revolut has since expanded into a broad range of services, including cryptocurrency trading and eSIM plans. The company reported a record-breaking £438 million pretax profit in 2023 and recently surpassed 10 million UK retail customers.

Revolut Business, the firm’s B2B arm, has also seen strong growth, generating over $500 million in revenue this year and onboarding more than 20,000 new businesses each month. The company’s ambitions received a boost in July when it secured a UK banking license after three years of regulatory delays.

Revolut Terminal is available for pre-order in the UK starting Monday, with a special offer of £129 plus VAT until 31 October, down from its regular price of £169 plus VAT. The device will be available in Ireland next month.