Revolut’s Business Payment Gateway has integrated
BigCommerce to enhance payments for online merchants, promising a better
payment processing experience. This collaboration aims to enable e-commerce
businesses to accept a range of payment methods, manage transactions with ease,
and benefit from next-day settlements within their BigCommerce dashboard.

Revolut and BigCommerce Combination

According to the official statement, the new agreement
enables merchants to offer their customers an efficient checkout experience.
This integration announced on LinkedIn on August 23, 2024, aims to enhance how
online businesses handle payments.

Revolut‘s gateway enables BigCommerce merchants to
accept over 25 different currencies. The platform promises high payment success rates and low transaction fees. Additionally, it eliminates
additional charges for refunds or fraud monitoring.

This enhancement makes it a cost-effective solution
for businesses aiming to optimize their payment processes. Merchants using
BigCommerce can now manage all aspects of their payment processing directly
from their admin dashboard, simplifying operations.

The integration allows over 45 million Revolut users
to pay directly from their Revolut balance, reportedly boasting an impressive
98.5% authorization rate. Additionally, businesses are protected by Revolut’s
PCI-DSS compliance and robust fraud monitoring tools, ensuring secure
transactions.

Revolut’s integration with BigCommerce followed a
period of growth for the London-based fintech. In 2023, the company added 12
million new customers, bringing its total to 45 million as of June 2024. The
firm’s revenue nearly doubled from $1.1 billion in 2022 to $2.2 billion in
2023, highlighting its rapid expansion.

A New Phase for Revolut

Revolut secured a banking license in the United
Kingdom in July 2024. Granted by the Prudential Regulation Authority, the
license comes with certain restrictions as part of the typical
“Authorization with Restrictions” phase for new banks in the UK. During this period, Revolut will continue to operate
as usual while completing the build-out of its UK banking operations.

Recently, Revolut integrated Ledger Live, a popular platform
for managing digital assets. This partnership aims to make cryptocurrency
purchases easier, faster, and more secure. This partnership enables Revolut
users to buy cryptocurrencies directly through the Ledger Live app.

According to the fintech firm, the new service will make
digital asset management more accessible and safer for users. It also enables
users to convert their fiat currency into cryptocurrencies within the Ledger
Live app, bypassing additional identity checks and multiple verifications.

This article was written by Jared Kirui at www.financemagnates.com.

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