Revolut is a UK-based challenger bank that issues a prepaid debit card, P2P payments and currency exchange. The company received numerous complaints from users on its social media channel, after customers were unable to make payments and had their cards declined.
The company responded quickly to the incident by apologizing and explaining that the problems were caused due to the third party provider it outsources its processing to.
Revolut has decided to bring its payments processing in-house. This strategy follows in the footsteps of Monzo, another challenger bank who will take control over its payment processing.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now