Optimal Payments partners Revolut for release of currency exchange solution

The solution is a multi-currency MasterCard and mobile app that allows people to both spend and send money abroad at an optimum exchange rate. The Revolut solution helps consumers avoid the hidden costs often associated with currency exchange.

Available on both iOS and Android, the Revolut app allows users to set up an account to transfer money globally via SMS, email, WhatsApp and social media channels. Revolut takes the wholesale interbank exchange rate, which is constantly updated.

Optimal Payments’ partnership with Revolut enables customers to hold funds in GBP, EUR and USD, and to spend online and in-store with a globally accepted multi-currency MasterCard linked to their Revolut account. A virtual Revolut card can be used for online purchases as soon as the account is set up, and a physical card is delivered to the customer within two working days in the UK. The card can be used globally wherever MasterCard is accepted: online, in-store and to withdraw cash at an ATM.

Optimal Payments is authorised by the UK Financial Conduct Authority (FCA) to issue electronic money and is a Principal Member of MasterCard International Inc. In addition, Optimal Payments’ Acquiring Services enable Revolut’s customers to load funds to their accounts.