Revolut launches travel booking feature Stays


Revolut’s new travel booking feature, Stays.

Revolut

LONDON — European fintech large Revolut is leaping into the travel trade.

The London-based agency launched a brand new feature Tuesday referred to as Stays, which lets customers guide lodges and different lodging by its app.

Customers can obtain as much as 10% cashback on bookings made by Revolut, the corporate stated.

The transfer marks a problem to travel trade giants like Booking Holdings, Expedia and TripAdvisor. It’s additionally the corporate’s first product to launch exterior the realm of finance.

“As the world begins to cautiously open up, we know everyone is desperate to get away whenever they can — whether it’s to Margate or Mallorca,” stated Marsel Nikaj, Revolut’s head of financial savings and way of life.

“We’ve built Stays to make it easy for people to find and book their perfect break in their ideal destination. After 18 months of endless restrictions and lockdowns, we want to give people more and make their money travel further.”

Revolut started life in 2015 as a digital-only banking and funds platform for spending overseas with out paying steep foreign money change charges. The firm has since expanded its providing, rolling out new options for buying and selling shares and cryptocurrency.

The agency is certainly one of a variety of fashionable “neobanks” which have emerged in Europe and different components of the world, luring principally youthful clients with a slick consumer expertise and colourful financial institution playing cards.

Rivals embody Monzo and Starling within the U.Okay., N26 in Germany and Chime within the U.S.

Last week, Revolut was valued at $33 billion in a monster funding round, making it Britain’s high fintech start-up and the second-largest fintech in Europe. The firm has 16 million customers globally.

Revolut is aiming to change into what’s referred to as a “super app,” which provides a number of providers by one interface. The development has gained traction in Asia, popularized by firms like Grab and GoTo in Southeast Asia and Alibaba and Tencent in China.

Revolut’s Stays feature is first launching within the U.Okay. on Tuesday earlier than rolling out to Europe and the U.S. within the coming months. It will solely supply lodging for now, however there are plans to incorporate flights, automobile rent and different travel choices later down the road.

It comes as some European nations are tightening restrictions on public life attributable to fears over a resurgence in Covid circumstances. In stark distinction, England lifted nearly all its remaining coronavirus curbs on Monday.

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