Sibos 2023: Revolut Business launches new payment solution RevTags
Revolut Business has launched RevTags, a new payment solution, for its customers. The news was announced at the ongoing Sibos conference, currently underway in Toronto, Canada.
Revolut launches RevTags for business customers
RevTags, which is already available to Revolut’s retail customers, is now being rolled out to its business customers across the globe, allowing them to send and receive “instant zero-fee” cross-border payments in more than 29 currencies within the Revolut network.
With RevTags, businesses can make global transactions by entering the RevTag of an individual or business in the Revolut Business app, without the need to add IBANs or additional beneficiary details. Revolut says the feature allows businesses to pay employees and contractors in more than 150 countries.
Revolut Business customers in the UK will also have access to payout links in addition to RevTags, enabling payments to customers and suppliers via URL and without the need for account details, with tracking and managing features through the Revolut account.
“Extending the availability of this feature to Revolut Business customers, paired with the launch of payout links, marks a significant milestone in our mission to make cross-border payments fee-free, instant, and seamless for businesses operating globally,” comments James Gibson, general manager of Revolut Business.
