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UK’s FinTech Giant Revolut Rolls Out New Mid-Tier Subscription Plan Revolut Plus

UTC by Bhushan Akolkar · 2 min read
UK’s FinTech Giant Revolut Rolls Out New Mid-Tier Subscription Plan Revolut Plus
Photo: Shutterstock

The Revolut Plus plan is an affordable subscription plan for its users and specially focused on the current COVID-19 pandemic times. It strips off all the benefits associated with travel but introduces purchase protection plans.

Changing times calls for change in plans. On Tuesday, December 15, UK’s FinTech giant Revolut announced its new subscription plan with a mid-tier offering called Revolut Plus. Costing £2.99 per month, the new plan is a special pandemic-proof-package that doesn’t put much focus on travel.

Revolut has emerged as a formidable player in Britain’s emerging finTech ecosystem. The startup also serves over 13 million active users on its platform as of date. Moreover, the financial services industry is getting very competitive with even traditional players improving their game. In the last few years, traditional banks have been introducing new packages and additional services to paid plans.

Revolut Plus Subscription Plan

The recent development from Revolut is to bring more affordable options for its paid customers. The Revolut Plus subscription plan comes with a purchase protection plan offered by Qover. All paid plans from Revolut will get purchase protection for different limits for damaged or stolen goods. Thus, users can also get a refund on purchases up to 90 days after buying the eligible products. Thus, if the user books tickets to an event that gets canceled later, they will get a refund for it.

Besides, the Revolut Plus users also subscribe to virtual cards wherein they can also create junior accounts with the mid-tier plans. Unlike its previous plans, users won’t get any overseas travel insurance. They also don’t get the unlimited free currency exchange. Thus, the Revolut Plus plan caters to its users who use the Revolut plan in their home country. Currently available in the UK, Revolut will roll-out this plan pan Europe from next week.

Revolut Crypto Push in 2020

Apart from just focusing on card-based services, Revolut is also focused on introducing new crypto services in partnership with Fireblocks. Back in October 2020, Revolut announced its partnership with Fireblocks for storing, transferring, and issuing digital assets to its customers.

As part of the deal, Revolut will use Fireblock’s unique MPC-based wallet and network infrastructure. On the other hand, Revolut has also applied for the U.S. Bank Charter with the Federal Reserve Bank. This move from Revolut is an attempt to break into the rapidly emerging financial services market.

Business News, FinTech News, News
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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