???? Revolut opens operations in Brazil. Revolut, the European neobank with over 29 million customers worldwide, wants a piece of Latin America's financial services market share, and its starting in Brazil. They will start with a set of features focused on International transactions and money movements, to later expand their portfolio. (see below) "Our mission is to unlock a borderless economy with financial products that are accessible and easy to use and that allow our customers to use their money efficiently," CEO Nik Stronsky said. Features in Beta launch include: - FX, including 27 global currencies - International Debit Card (only for international transactions) - International transfers - Chat and Pay with other Revolut users - Crypto Investments - Savings "chests": virtual accounts to save money for specific purposes - Cash Withdrawals - Apple Pay, Google Pay, SamsungPay Brazil's financial services space is getting crowded, with no clear winner yet. Those who can serve their customers better in a scalable way (without running out of cash) will be the champions of this race. It's Still day 1! ----- If you want to read more content like this make sure to follow, turn on ??, and subscribe to my weekly newsletter ?? Abrazo Edu #fintech #latam #Brazil #neobank #banking
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Revolut is quite late to the party in Brazil. It is a very competitive market with very large digital banks.
Can't wait for Mexico.
Congrats
Parabéns
Head of Product & Design | Innovation that delivers results
1 年It will be interesting to see if Revolut will be able to challenge Nubank, as N26 wasn't able to do so yet.