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

‘I have a visceral understanding of the underserved customer because I was one too’: The story behind Ahead Financials

  • Ahead Financials was launched back in December to provide banking services to anyone who feels financially insecure or underbanked.
  • Anu Shultes is the CEO of Ahead. Her inspiration for the challenger bank and her understanding of how to build it come from 25+ years in the banking industry, as well as her own experience as an immigrant in the US trying to make ends meet.
Rivka Abramson | May 17, 2021
New banks

Banking software providers are helping their clients go digital

  • Small banks and credit unions need to digitize to compete in an evolving industry.
  • Experts say open banking is the way to go.
Shehzil Zahid | May 11, 2021
New banks

‘Our sweet spot is healthcare’: Laurel Road for Doctors takes niching down one step forward

  • The demand for personalized digital banking products is booming.
  • And with that, companies like Laurel Road and KeyBank may need to figure out a way to become niche ninjas.
Rivka Abramson | May 10, 2021
New banks

Challenger bank Fortú targets Latinos in the U.S.

  • Fortú serves the underbanked and unbanked Latino communities in the U.S.
  • The digital bank uses the Galileo payments platform.
Ismail Umar | May 06, 2021
New banks

As gig work tops $1 trillion in the U.S, workers demand more real time payouts

  • Pandemic related loss of income has spurred an increased interest in gig economy work.
  • Branch and Marqeta’s report shows that 94 percent of gig workers associate faster payouts with financial security.
Rimal Farrukh | May 05, 2021
More Articles