UK-based fintech Revolut has joined forces with payments giant Mastercard to launch its first cards in the US by the year-end.
The deal is part of the companies’ ongoing alliance to bring Revolut cards to all global markets accepting Mastercard. The companies also worked together to offer various financial services, including money management and foreign exchange, in Europe.
Mastercard noted that the latest partnership will also see the companies work together on at least 50% of all current and future Revolut cards in Europe.
Besides, Asia Pacific and Latin America markets such as Brazil, Mexico, Australia, Singapore, Japan and New Zealand are part of Revolut’s global expansion strategy.
Revolut founder and CEO Nik Storonsky said: “As a launch partner of Revolut, Mastercard has been an important contributor to our success, and today’s agreement will enable us to meet our ambitious goal of offering innovative financial and payment solutions to people all over the world.
“Launching in the US will be a huge milestone for us, and we are delighted Mastercard will be our go-to-market partner.”
As part of the alliance, Revolut products will have access to certain Mastercard technologies including the Mastercard Send platform.
Mastercard chief product officer Michael Miebach said: “Broadening Revolut’s global reach will enable millions more people around the world to benefit from Mastercard’s worldwide acceptance footprint and Revolut’s ground breaking financial services.”