Mastercard releases new details about its deal with Revolut to launch new debit cards, which will be a first in the United States and be ready by the end of 2019. The new debit cards issued will enable payments to be accepted anywhere Mastercard is accepted.
Revolut, a Fintech firm launched back in 2015 as an alternate to the existing banking sector and later started offering cryptocurrency exchange has announced its partnership with MasterCard. The partnership announced on 22nd October through a press release revealed that Revolut would launch debit card by the end of the year.
The strategic partnership with MasterCard would give Revolut access to any market where MasterCard is accepted. MasterCard has played a crucial role in Revolut’s acceleration program ever since its launch.
Nik Storonsky, founder and chief executive officer, Revolut commented on the partnership saying,
“As a launch partner of Revolut, Mastercard has been an important contributor to our success, and today’s agreement will enable us to meet our ambitious goal of offering innovative financial and payment solutions to people all over the world. Launching in the U.S. will be a huge milestone for us, and we are delighted Mastercard will be our go-to-market partner”
The partnership would provide Revolut with some of the MasterCard’s latest payment solution technology and also enable them to use the Mastercard’s Send platform.
Michael Miebach, Chief Product Officer at Mastercard commented,
“Having partnered with Revolut over the last four years, we are delighted that our relationship continues to grow and meet our collective global ambitions. Revolut’s success and its speed to new markets, such as the US, is welcome proof of our commitment to tailoring support for fintechs. Broadening Revolut’s global reach will enable millions more people around the world to benefit from Mastercard’s worldwide acceptance footprint and Revolut’s ground breaking financial services.”