Revolut unveils unified merchant payments suite in Australia

Revolut has launched a merchant acquiring product in Australia that combines in-person, online and account-to-account payments with its core business account.

The company said Australian businesses can accept, settle and manage payments from a single platform. The product includes card payments, account-to-account checkout and in-person acceptance tools.

Revolut said the launch follows a 235% increase in Revolut Business monthly transaction volume in Australia over the last 12 months.

Survey findings

Revolut worked with YouGov on a survey of Australian business owners about time spent on day-to-day tasks. Revolut said 83% of respondents named finance and admin as the most time-consuming area of business operations.

Revolut said the most common preferred use of time saved was spending time with their kids.

Single platform

Revolut positioned the product as an alternative to acquiring setups that use multiple providers. The company said its approach places payment acceptance and settlement within the same ecosystem as the business account.

Revolut said businesses will get 24-hour payment settlement, including weekends. It also said customers can hold and settle funds in more than 30 currencies.

Revolut said processing fees start from 0.5% per transaction, and the service runs with 99.99% uptime.

The company also pointed to its retail customer base as a distribution channel for merchants, as Revolut has more than 70 million retail customers globally.

Payment tools

Revolut said the suite includes online and in-person tools for small and medium-sized businesses and larger firms.

For in-person acceptance, Revolut said it starts with Tap to Pay on iPhone. It also offers Revolut Terminal.

For online payments, Revolut said merchants can integrate Revolut Pay at checkout. The company described Revolut Pay as a one-click account-to-account checkout option.

Revolut also said businesses can accept online payments through Apple Pay and Google Pay. It said merchants can connect through an API. It also listed payment links and invoices as options.

Market backdrop

Revolut cited card payment volumes as a measure of demand in Australia. It said Australians make 1.3 billion card payments a month, worth A$90 billion.

The company said its acquiring suite simplifies money movement between consumers and businesses. It said it keeps payment operations in one place.

Revolut said its acquiring solution and Revolut Pay are already used by Audi Revolut F1 © Team and Booking.com.

Company comments

Revolut Business Australia outlined its focus on integrating payments and banking functions into a single platform.

"We're thrilled to continue building on the success of Revolut Business in Australia. This launch marks a genuine step‐change in how Australian businesses can manage payments. Revolut Business exists to redefine what's possible for business banking - replacing complexity with clarity, high fees with fairness, and slow systems with global innovation. 83% of Australian businesses have said they want to save time processing finance admin - we're here to offer them the ease and control they deserve," said James Roberts-Thomson, Head of Revolut Business Australia, Revolut.

Revolut said it plans to expand its business payments offering in Australia as its local transaction volumes grow.