The QR codes can be accessed by business owners from all walks of life - restaurants, retailers, etc. - on their phones using the Revolut Business app. There is zero need for any external device.
The process of paying with QR codes is:
- Business owners generate a QR code on their smartphone
- Customers scan the code and pay with Apple Pay, Visa or Mastercard on their own iOS or Android device.
- The contactless solution facilitates instant payments over wifi so funds are cleared before the customer leaves the premises.
QR codes are available to Revolut Business customers in the U.K., Austria, Belgium, France, Denmark, Germany, Ireland, Italy, Netherlands, Poland, Portugal, Spain, Sweden, Bulgaria, Croatia, Czech Republic, Estonia, Finland, Greece, Hungary, Lithuania, Luxembourg, Norway, Slovakia and Slovenia.
Revolut Business customers need to update their app to version 2.28 in the iOS or Android store to enable QR codes. They (Revolut Business customers) will also need to apply for a Merchant Account within their Revolut Business Account to use this.
Speaking about the QR codes launch, Paulo Guichard, product owner for acquiring at Revolut, said: “The popularity of QR codes has increased as this payment method is quick, easy and allows people to make socially distanced payments, which are increasingly important during the global pandemic.”
Guichard continued: “We’ve removed the need for additional devices or hardware, as all business owners have to do is use their Revolut Business app and show customers a QR code to accept payments straight away through this efficient and touch-free method.”
Revolut Business, the business account from FinTech Revolut, was launched in 2017 across the UK and Europe. Revolut Business works with over 500,000 business customers worldwide.
Revolut is a super app for all things money - from users everyday spending, to planning their future with savings and investments. The app helps users get more from their money.