To initiate a payment request, merchants need to use the Revolut Business app to generate a barcode alongside the preferred currency and amount the customer should pay. They will then show the code to customers, and scan it with their smartphone camera. Customers will receive a prompt to pay with Apple Pay, Visa, or Mastercard and complete the transaction from their devices. Merchants will no longer request email addresses or phone numbers while enabling payments. This approach ensures all payments are touch-free to help business owners adhere to social distancing regulations amid the Covid-19 pandemic. Revolut notes that:
Instant payments
According to Revolut, QR codes eliminate the need for additional hardware to make payments. Moreover, this payment solution is instant, meaning funds are transferred into the merchant’s account and cleared immediately. The launch of Payment Links is part of Revolut’s current expansion plan. Recently, the company began offering US dollar and British pound savings accounts for UK users. The new features are geared towards making Revolut attain the status of ‘super financial app.’
