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.
close

Email a Friend

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.

0 comments on “Revolut rolls out Perks, a new rewards feature in a bid to increase debit card use”

New banks

Rebundling banking services: Are fintechs trying to be more like banks?

  • Why are fintechs that have grown to a certain size continuing to pursue a banking license?
  • Luis Trujillo, CCO at Alviere sheds light on whether acquiring a license guarantees a successful banking business model for fintechs and if it constitutes a threat to banks.
Sara Khairi | January 09, 2023
Banking as a service, New banks

The Big Bank Theory Conference 2022: All session videos

  • Tearsheet's Big Bank Theory Conference brings together the most innovative players changing the face of the financial institution.
  • Here are the videos from this year's conference, held in December online.
Shabih Rao | December 21, 2022
Modern Marketing, New banks

Embracing ‘side bank’ status: 5 questions with Aaron Wollner, CMO of Quontic

  • As a community bank turned digital bank, Quontic has its own unique challenges in sticking out of the crowd.
  • In this Q&A, CMO Aaron Wollner talks about what’s new in the digital bank’s campaign work and how it’s been shifting its messaging to fit the current financial climate.
Rivka Abramson | October 19, 2022
New banks, Sponsored

Creating a winning neobank strategy through differentiation

  • There is a notable opportunity for neobanks to fill gaps that currently exist in traditional financial services, especially since they are free of the restraints of dated technology.
  • However, to be effective, they must identify a primary differentiator or central mission and then build the user experience around that north star.
Praxent | October 18, 2022
Member Exclusive, New banks

Banking Briefing: Will WFH become a thing of the past?

  • Banks are pushing to get employees back in the office – but what will that do for their efforts to attract tech talent?
  • Meanwhile, gender inequality is alive and well in the banking industry. Here’s what one bank is doing to try and solve that.
Rivka Abramson | September 12, 2022
More Articles