UK/INTERNATIONAL. UK travel retail supplier Premier Portfolio has partnered with Advanced Software Systems to launch a new fee-free spending concept, called Revolut, in travel retail.
Revolut, a digital banking alternative, is an app and pre-paid debit card. It allows users to set up an app-based current account in 60 seconds, spend abroad in over 150 currencies with no fees, hold and exchange 25 currencies in-app and send free domestic and international money transfers with the real exchange rate.
Revolut also offers services including pay-per-day geolocation travel insurance, phone insurance, instant credit, spare change saving and “one of the easiest, fastest ways to buy, hold and exchange cryptocurrencies such as Bitcoin, Litecoin and Ether,” said the company.
Revolut is currently available to UK/EU/EEA and Swiss residents and will be available later this year in UAE, Hong Kong, Singapore, Australia, New Zealand, USA, Canada, Japan, South Africa, Russia and India.
Premier Portfolio launched Revolut at last week’s TFWA Asia Pacific Exhibition. The company said its first listing, with Singapore Airlines, will be live from September.