Visa and Revolut expand successful partnership in Europe, adding 24 new markets globally to deliver more consumer choice and flexibility in personal finance management
SAN FRANCISCO & LONDON – September 30, 2019 — Visa (NYSE:V) and Revolut, the leading fintech in Europe, today announced a new agreement that will help Revolut expand its business globally. Leveraging Visa’s brand, scale and global acceptance footprint, Revolut will be able to bring its product offerings to five new regions, reaching 24 new markets, for a total of 56 markets globally. Under the terms of the agreement, Revolut will primarily issue Visa-branded cards in the global expansion.
Revolut offers consumers a range of digital financial services via a mobile application, including currency exchange, budgeting and person-to-person (P2P) payments, all linked to a Visa card. Building on the success of its existing agreement in Europe, Visa will enable Revolut to launch initially in Australia, Brazil, Canada, Japan, New Zealand, Russia, Singapore andthe United States, followed by Argentina, Chile, Colombia, Hong Kong, India, Indonesia, Korea, Malaysia, Mexico, Philippines, Saudi Arabia, South Africa, Taiwan, Thailand, Ukraine and Vietnam.
“We are excited to build upon our existing collaboration with Visa, the world’s leader in digital payments, which will bring to life our shared vision for seamless, innovative payment experiences,” said Nikolay Storonsky, founder and chief executive officer, Revolut. “The new global agreement with Visa is timely for Revolut as we move into a number of new markets to offer even more consumers the control, flexibility and innovative features that our European customers have been benefiting from for years.”
“Revolut has made great strides in delivering innovative and unique experiences to consumers in Europe. We are thrilled to extend our relationship as Revolut looks to achieve their global growth ambitions and collectively drive increased volume on the Visa network,” said Jack Forestell, chief product officer, Visa. “With Visa being accepted at nearly 54 million merchant locations across more than 200 countries, we have the scale, experience and expertise to help fintechs like Revolut go global.”
Visa and Revolut have built a strong partnership over the last four years. The digital banking alternative first began issuing Visa cards to its customers across Europe in July 2017. Since that time, Revolut has been able to leverage Visa’s global network and capabilities to help drive their rapid global expansion, including issuing Visa-branded cards in every major European market today.
Over the last four years, Revolut has been at the forefront of global financial innovation. In an effort to enable consumers to better manage their money digitally, Revolut and Visa will allow for:
- Flexible, Customized and Seamless Banking Services: Revolut customers can receive instant spending notifications, monthly spending breakouts and budgets by individual categories. The option to complement the existing Revolut app with Visa APIs, including Visa Token Service and Payments Attribute Account Inquiry, and Visa prepaid and debit cards, will offer the security and speed consumers expect when they use their Visa.
- Seamless, Low Cost Currency Exchange: As one of the most affordable options, Revolut customers can spend globally in over 150 currencies and hold and exchange up to 29 currencies and cryptocurrencies - including bitcoin, the Canadian Dollar, U.S Dollar, Mexican Peso, British Pounds and Euros - directly in the app using the interbank exchange rate.
- P2P Payments: With the tap of a button, consumers can instantly send and request money for free and split the bill at restaurants and bars with any Revolut customer globally.
The Visa and Revolut global deal builds on Visa’s long-term commitment to fintechs and bolsters the company’s strategic business priorities, including:
- Visa Direct, Visa’s platform that enables faster payments to over a billion financial accounts worldwide
- Visa’s suite of B2B payments solutions for small and medium businesses and global enterprises
- Visa’s ongoing commitment to bringing digital payment options to the unbanked via social impact programs
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
Revolut was launched in July 2015 by former Credit Suisse and Deutsche Bank investment bankers, Nik Storonsky and Vlad Yatsenko, as a digital alternative to the big banks. While the fintech initially drew in customers by letting them spend and transfer money abroad with the interbank exchange rate, the company has since attracted over 7 million customers in Europe with its spending overviews, budgeting controls, savings features and cryptocurrency exchange.
To date, Revolut has raised approximately $340 million in investments, from notable venture capital firms including Index Ventures, Ribbit Capital, Balderton Capital and DST Global.
Turkmenistan citizens celebrate a momentous date in the history of the state – the Independence Day. The main square of Turkmen capital met guests and participants of the celebration in bright and neat appearance. Members of the Government, deputies of the Mejlis, heads of ministries and departments, public organizations, diplomatic missions accredited in Turkmenistan, delegates of the People’s Council as well as foreign guests who came to Ashgabat are on the State tribune. Everybody wait for the start of grandiose event, which is traditionally held on Independence Day.
Military personnel of all types of the Armed Forces of the country have lined up on the Independence Square.
It is 10 o’clock. President Gurbanguly Berdimuhamedov went up on the State tribune. The participants have greeted the Head of the State with enthusiasm.
The celebration has started from the military parade, which again demonstrated high professionalism and training of Turkmen soldiers.
Minister of Defence B. Gundogdiyev reported to President of Turkmenistan, Supreme Commander of the Armed Forces, Army General Berdimuhamedov on the readiness to start the review of defensive capability of the country. The President commanded to start the parade.
The Minister of Defence drove along the troops greeting the lines formed up of military personnel and cadets of specialized institutes and schools, soldiers and officers of National Army.
The State Anthem is played and the State Flag of Turkmenistan is hoisted.
The parade was opened by the flag group, which walked along the tribune with the State Flag of Turkmenistan and combat colours of all Armed Forces under the sounds of ceremonial march.
After, cadets of Berdimuhamed Annayev specialized military school marched in front of the tribune. They were followed by the battalion of officers of National Army and female military personnel who make significant input to provision of peace in our country.
Soldiers of motorized infantry battalion demonstrate an outstanding example of high skills and training. They were followed by Turkmen Air Force pilots. Anti-aircraft soldiers marched in front of the State tribune. Navy personnel and marines have also participated in the celebration parade.
The review is continued by the column of military personnel of artillery division who demonstrate high skills of destroying of targets during tactical training exercises.
They were followed by the battalion of the General Department of Civil Defence and Rescue Works of the Ministry of Defence, which personnel successfully solves the tasks for operational response during emergency situation and mitigation of the coonsequences.
Military personnel of new formation of National Army – the battalion of territorial defence troops, have also participated in this parade. The main objectives of the division, which was established by the initiative of Supreme Commander of the Armed Forces Gurbanguly Berdimuhamedov, is to protect state, strategic and special facilities.
Personnel of special force divisions of the Ministry of National Security, which participate in operation using advanced tactics and latest military equipment, marched across the square.
Unified system of military education, which includes the Military Institute of the Ministry of Defence and Academic Department for high-rank officers, Naval Institute, Institute of the Ministry of Interior, Border Guard Institute, Institute of National Security, specialized schools of the Ministry of Defence, Specialized Navy School, has been established in the country for the years of independence.
The main goal of this educational facilities is to form up new generation of professional officers for National Army, who are able to operate modern equipment and machinery.
Activity of the Institute of the Ministry of Interior, which cadets have marched across the square, is aimed at achievements of set objectives.
They were followed by the special force group of the State Border Guard Service and the soldiers of special force battalion, which was named «Türkmen edermen». By the initiative of President Gurbanguly Berdimuhamedov. The main distinguishing feature of the personnel of special divisions is high level of combat, theoretical and physical training while the fast response during solution of combat tasks, mobility and number are the main principles of their activity.
As is known, legendary ahalteke horses are pride of Turkmen nation. In this time, ahalteke horses have become assistants of the Motherland defenders and protectors of public order, having shared with them this responsible mission. March of equestrian divisions of the Armed Forces and the Ministry of Interior was an adornment of this parade in honour of the 28th anniversary.
It comes the turn of modern military equipment, which is used by National Army. Mechanized columns of different Armed forces led by Combat Guard military vehicle drove across the square one after another. It was followed by motor transport vehicles designated for fast fulfilment of combat tasks of by special force divisions. Equipped with modern technical hardware, the vehicles are able to carry out combat operations in any conditions.
The review is continued by MRZR-D2, MRZR-D4, DAGOR, AJBAN combat vehicles , which are used by special force troops to fulfil successfully their tasks in the areas with difficult access.
Armoured Land Rover and NIMR vehicles equipped with anti-tank missiles, mortars and machine guns are in service of National Army.
Equipment and facility base of the Armed Forces of Turkmenistan has AL SHIBL combat vehicles, which are designated for combat operations and tactical trainings of special force groups.
Modern KARAKAL combat vehicle as well as BTR-80A and KIRPI armoured vehicles for special divisions were presented at the celebration parade.
The review was continued by the third mechanized column, which consists of specialized transport vehicles of the State Border Guard Service like Toyota Hilux, Cobra, Mantra, PMV-Survivor-II, KIRPI, which are distinguished by power, speed and high off-road capabilities. These vehicles are designated for protection of sacred border of the Motherland.
IVECO trucks with ZU-23 anti-aircraft rocket complex for destroying of air target on small altitudes drove in front of the tribune.
The fourth mechanized column is represented by light armoured vehicleson service of the Ministry of Interior including Otokar, Ford, Toyota Tundra, GMC Sierra, PMV Survivor II.
Celebration parade was continue by the Air Force of the country. Group of MI-17 and MI-8 combat helicopters of the Air Force of the country appeared in the sky. They were followed by UAgusta-109 and Augusta-139, which are used for protection of the State border including in the mountain areas with difficult access. Military parade is continued by Eurocopter 365 choppers of the Ministry of National Security.
Special Diamond-42 aircraft flew over the square. Its technical characteristics allows making recon flights, aerial photo and video imaging. It wa followed by the group of SU-25 combat aircrafts.
Special battalion of the Guard of Honour of the Ministry of Defence of Turkmenistan entered the square. Demonstrating outstanding training and high skills in handling weapons, the soldiers formed up the image of two crossing olive branches – the symbol of peace on the State Flag of Turkmenistan, as well as the Abadançylyk Monument and figure of the alabay.
Performance of the Orchestra of the Armed Forces of Turkmenistan, which formed the figure of 28, was the final chord of the military parade in honour of the main celebration of the country.
Before the second part of the events, beautiful ahalteke horse of golden colour in parade outfit with jewellery harness and saddle was taken out to the square in front of the tribune. Two horse-riders who lead the horse demonstrated its beauty, statue and grace.
On behalf of associates, this excellent horse is presented to the Head of the State as a gratitude for his versatile activity on occasion of the 28th anniversary of Turkmenistan Independence.
28 horse riders came out to the square with flags of Turkmenistan in their hands under sounds of music. They have waltzed in front of the tribune in straight line making spectators especially foreign guest to see an excellent training of horses.
The participants greeted horse riders of famous Galkynysh equestrian group under rhythmic melody and ringing voice young singers. Ability to keep balance is in the base of fancy horse riding, in which Turkmens were always famous. Members of Galkynysh group amaze with fantastic balancing – they ride horses and form up live pyramid of the riders. They have presented his effective stunt in the celebration performance on the main square, having hoisting green colour of National flag high.
The horse riders left and the square was filled with representatives of younger generation. Participants of literature and music composition “Turkmenistan – Home of Prosperity” carried the globe, which turns into the centre of flower in choreographic picture. Performance with participation of folk and dance collective, children ensembles and flag holders is expanded around the flower.
White balloons as a metaphor of good hopes and wishes were set off to the sky. Girls dressed in white dove costumes as a symbol of peace from the old times appeared on the performance. Cute Rovach the foul is well recognized character. Content of the composition reflects and glorifies the today of the country.
Deputies of the Mejlis, representatives of public organizations, honoured elders walked across the square. They were followed by the representatives of all velayats who came to the capital. They are escorted by portable platforms with tamdyrs – the symbol of hearth and modern embodiment of Ak öýi as a symbol of traditions passed from generation to generation.
The baton as taken by white-marble capital – the parade was continued by personnel of Ashgabat city administration. Architectural attractions, significant monuments, which decorate the main city of the country, are displayed the 3D illustration.
Personnel of educational system walked across the square. Personnel of scientific and education facilities and students greeted the Head of the State expressing their gratitude for wide opportunities for implementation of art and intellectual protential.
They were replaced by the lines of cyclists who opened the column of sportsmen. Master of different sports, prize winners of local and international competitions were among them. Today, excellent sport complexes and stadiums, biggest in the region Olympic village are at their disposal these days.
Avaza was the next theme in celebration parade. Silhouette of Avaza Congress Centre, where first Caspian Economic Forum was held with success on August 12, is on the vehicle with decorations.
The procession was continued by personnel of health protection and medical industry. Today, high level of medical service in our country is guaranteed by ramified system of super modern medical facilities, for construction of which the state has paid millions of dollars. Ashgabat has turned into large medical centre with high technological clinics.
Personnel of economic structures, financial and banking sphere entered the square. All branches of national economy dedicated their work achievements to the Independence Day. Story about them is accompanied by bright procesion of representatives of trade and entrepreneurship sphere.
One of dynamically developing branches of national economy – the textile industry, has been presented in the parade by bigger procession. Personnel of carpet making and textile facilities of the country tried to demonstrate their industry more expressively.
Folklore and ethnographic ensemble Dokmaçylar performed exciting dance under the sound of celebration song. Student artistic collectives have also been involved to bright composition demonstrating atmosphere of Turkmen traditional celebration.
Personnel of industrial facilities entered the square with portable platform with models of industrial installation. After, brightly decorated vehicles drove in front of the tribune. One of them carried the gifts of generous Turkmen land and production of local agricultural producers while another has picturesque landscape with mountains, waterfalls and animals of Turkmen nature.
It is followed by the column of people dressed in railroad, water transport and civil aviation uniform personnel. They are accompanied by the vehicles decorated according to profile theme.
Dynamics of actively developing transport and communication complex of the country is reflected in the song about goo roads performed by famous popular singers. Dance and vocal accompaniment was made by Laçyn folklore ensemble together with students of profile universities.
Personnel of oil and gas industry dressed in working outfit are on the square. Achievements of oil and gas industry are visually demonstrated in thematic decoration of demonstration vehicle. Specialists of energy sphere was walking next. Their vehicles are decorated with models of production facilities, which output capacity provides local growing requirements, high-voltage power lines supplying Turkmen energy to neighbouring countries.
The songs were sung again, balloons flew in the sky, ensemble Serpaý and student artistic collectives performed composition dedicated to the wealth of turmen land and work of personnel of fuel and energy sphere.
Construction and architectural sphere, which achievements are obvious to all, has been demonstrated.
Time of younger generation and cultural sphere personnel has come. Best children artistic collectives came to the main square of the country. young artists performed vivid dance composition.
The procession of art masters and personnel of cultural sphere of Turkmenistan was also big. Young talents and famous artists presented a bouquet of song and dance compositions to the Head of the State.
Big concert of popular singers in honour of Independence Day was held the same evening at the square in front of Älem Cultural and Entertainment Centre where numerous residents and guests of the country have gathered.
Celebrities of music stage of Turkmenistan, masters and young soloists, folk and dance ensembles, chorus groups took part in the concert. Artists performed popular and new songs. The performance was followed by the bursts of celebration fireworks. Bright fountains of light were it up and scattered like stars in evening sky.
The state news agency of Turkmenistan