Users Can Access the New Travel Booking Feature of Revolut Through an App
According to the company, customers can also get up to 10% cashback on any bookings they made through Revolut. This latest move of the fintech giant can be seen as a challenge to established travel industry giants like Expedia, TripAdvisor, and Booking Holdings. Stays is also the first product that Revolut is launching outside of the realm of finance.
Marsel Nikaj, Revolut’s head of savings and lifestyle, has recently made a statement saying that people are definitely ready to get away for a vacation at any point and to any place. According to her, Stays has been made to allow people to find and book their break at a destination that is ideal for them. Apparently, the feature’s goal is to give people more options and make their money travel further.
Revolut Was Established As a Digital-only Banking and Payments Platform
When it was founded in 2015, Revolut had no other ambitions other than to be a digital-only banking and payments platform that allows for spending abroad without the steep currency exchange fees. Since then, the company has expanded its services, creating new features for trading cryptocurrency and shares.
Currently, Revolut is a popular European neobank that has lured mostly younger customers with its colorful bank cards and slick user experience. Its competitors include companies like Monzo, Starling, Chime, and N26. Revolut seems to be aiming at becoming a super app, which would offer many services through one interface. This is a trend that has been popularized by Asian companies like Grab, GoTo, and Alibaba.
Revolut’s latest feature, Stays, is currently available only in the U.K. but will be rolling out to the U.S. and Europe in the upcoming months. While it only offers accommodation right now, there are plans to expand the feature into different travel options, flights, and car rental.