New banks

Revolut rolls out Perks, a new rewards feature in a bid to increase debit card use

  • Revolut is rolling out a new incentive program for UK customers.
  • Cardholders unlock more perks and rewards the more they use their debit cards.
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Revolut rolls out Perks, a new rewards feature in a bid to increase debit card use

Revolut is rolling out its Perks feature to all UK Revolut customers. With Perks, Revolut customers can unlock discounts and cashback on a number of brands that they know and love, by using their Revolut card. 

The feature: Revolut Perks is a rewards and discounts feature, partnering with a number of top brands in specific categories, like flights, hotels, train, food and drink, health and beauty, and fitness.

  • To unlock a new Perk, Revolut customers have to use their Revolut card 10 times.
  • After every 10th purchase, Revolut sends a new Perk.
  • Customers will receive a notification when a new reward becomes available. 
  • Customers have to be a UK-based Revolut customer.
  • At launch, Revolut will offer three Perks from Trainline, National Express and HelloFresh which are instantly available to all UK Revolut customers. 

Discounts versus cashback: Perks offers two main types of rewards.

  • Discount rewards give customers an instant discount at a merchant when they pay using Revolut.
  • Cashback rewards give customers a certain percentage of the purchase price back when they shop using their Revolut card at a partner merchant. 

Context: Getting users to use their debit cards is a big part of the challenger bank model. It brings stickiness and interchange revenues.

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