Global: Revolut Partnering With Stripe for Payments in Europe

Finance app Revolut Ltd. is teaming up with Stripe Inc. to support payments in the UK and Europe.

Revolut will facilitate payments through Stripe’s existing infrastructure, according to a statement on Wednesday. The London-based firm could use the platform in more regions in future as it looks to expand in markets including Latin America, India and the Philippines.

“We’re thrilled to be powering Revolut as it builds, scales, and helps people around the world get more from their money,” said Eileen O’Mara, EMEA revenue and growth lead at Stripe.

Both Stripe and Revolut have grown from startups to sprawling fintech operations in a bid to challenge established banks and payment providers. San Francisco-based Stripe, whose software is used by millions of businesses to send and receive payments, has recently partnered with international transfer company Wise Plc and buy-now-pay-later provider Klarna Bank AB.

Revolut currently offers payment services to retail and business users in about 30 currencies. In June, the firm teamed up with open banking platform Tink to let users incorporate their bank accounts into the app.