Revolut, a UK-based fintech with 35 million customers in 150 countries, recently added a mobile wallet feature to its product menu, allowing users in Europe to send money to individuals in Bangladesh and Kenya, based on the recipient's phone number or email address. People in Bangladesh can access funds via the bKash mobile money services, which is affiliated with the Bangladeshi NGO BRAC. In Kenya, recipients can access funds via M-Pesa, a service of UK-based Vodafone.
"Sending money home is a problem many expats face and so it is essential to provide a service that simplifies this and facilitates affordable and convenient international money transfers," said Akshat Mittal, Revolut's General Manager for International Payments. Revolut, which was launched in 2015, offers services such as insurance, investments, peer-to-peer chat, payment-card processing and vacation-home rental. The firm reports having brought in total revenue of USD 1.1 billion during 2022.
"Sending money home is a problem many expats face and so it is essential to provide a service that simplifies this and facilitates affordable and convenient international money transfers," said Akshat Mittal, Revolut's General Manager for International Payments. Revolut, which was launched in 2015, offers services such as insurance, investments, peer-to-peer chat, payment-card processing and vacation-home rental. The firm reports having brought in total revenue of USD 1.1 billion during 2022.
