1. Analysis
February 10, 2022

Rêv launches multi-currency digital wallet app for Itaú

Rev develops payment programme with Mastercard debit card acceptance and real-time currency exchange for Itaú customers looking to transact in foreign currencies

By Douglas Blakey

Rêv Worldwide is teaming up with Banco Itaú International to launch the Itaú Global Wallet. This an app-based digital payment account available exclusively to Itau’s international Private Bank customers.

The Itaú Global Wallet programme was developed by Rêv on its proprietary multi-currency payments processing platform, and carries the Mastercard brand. Itaú is the largest bank in Latin America and seventh largest bank in the world.

The banks says the wallet is quick and easy to load from the customer’s foreign accounts at Itaú Private Bank. This allows users to transfer funds instantly to their Global Wallet account that is linked to a personalised Mastercard debit card. The programme also includes access to a virtual Mastercard card for online shopping, as well as real-time exchange functionality across seven currencies including the US Dollar, British Pound, Euro, Swiss Franc, Japanese Yen, Canadian Dollar, and Brazilian Real.

Personalised private bank customer service without annual fees

Moreover, the linked Mastercard can also be added to Apple, Samsung, and Google mobile wallets. Claimed as an industry first, the programme delivers personalised, private bank customer service without the annual fees and interest charges that are often associated with premium credit cards.

“Today more than ever private bank customers around the world expect the best products and services available in the market, so we couldn’t be more proud of being selected by Itaú to deliver a solution that meets their customer’s needs,” said Roy Sosa, Chairman and CEO, Rêv Worldwide, Inc.

The Itaú Global Wallet comes at a time when banks across the world are facing even more competition from challenger banks, offering robust functionality available through innovative digital experiences.

“While the development of innovative financial services continues to move at a rapid pace, we continue to stay focused on delivering on what our customers need to meet their financial services expectations. The Itaú Global Wallet product fits that strategy well,” said Fernando Beyruti, Global Head of Itaú Private Bank.

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