Revolut is one of the largest neo banks in the world, empowering more than 20 million clients with its smart, modern and affordable banking features. Their offer also includes online business accounts, to help small businesses manage their finances and payments effortlessly.
As Revolut had been offering online payment solutions for a few years, the company revealed its first in-person payment solution in 2022: the Revolut Reader - a compact smart device, that can connect to any smartphone equipped with the Revolut Business app.
We have gone into the details of the Revolut Reader offering to help you understand the features and conditions of their offer, so you can find out whether Revolut’s in-person payment solution is a good fit for your business.
|+ No commitment
+ User-friendly terminal with touchscreen
+ Affordable card reader
|- Basic reader, no standalone terminal
- No compatible PoS software
- Works with a Revolut account only
- High transaction fees outside the UK
Get started with the Revolut Reader now - link to offer
Getting started with the Revolut Reader
The first thing you need to do to get started is creating a Revolut Business account. This can be done easily on Revolut’s website, by filling in a short application form. You will be asked personal details, and different documents based on whether you operate as a business, or as a sole trader / freelancer.
Once your account has been validated – which usually happens between 1 and 7 business days - you can order your Revolut Reader directly from the Revolut Business app. You simply need to go to settings, then select 'Revolut Reader' from 'Devices, and go for ‘Order new reader’.
As you receive your Reader, all you have to do is connect it to the Revolut Business app on a phone or tablet via Bluetooth. Once that is done, you can start accepting payments through the app instantly. Funds will be made available in your Revolut business account within 24 hours after the transaction.
The Revolut Reader: a compact wireless reader
Available for €49 + VAT, the Revolut Reader is a lightweight Bluetooth reader, that enables you to accept payments via chip insert or contactless. It is equipped with a small touchscreen where your clients can type in their pin, and comes with a 1-year warranty.
The Revolut Reader can accept most cards and mobile wallets, but can not yet process American Express, Diners or JCB. It connects via Bluetooth to the Revolut Business app. Please note: the Reader is compatible only with devices running iOS 13.0 or later, or Android 6 or later.
The Revolut app enables you to monitor all transactions made with the Reader in real time, so you can monitor your payments live. As transactions get cleared, they will be marked as confirmed in the app, for you to track payouts.
Pricing plans and transaction rates
The Revolut Business account comes with different pricing plans, based on the features and capabilities you need.
Here are the plans for companies:
And the plans for freelancers / sole traders:
The features included in each plan are detailed on Revolut’s website.
Please note: if you are a large company willing to get a tailored quote, you can get in touch with Revolut’s sales team via their website - they are usually quite reactive.
The Revolut Reader follows a pay-as-you earn business model, meaning you only pay a small fee oneach transaction when you collect payments. If you do not use your Reader, nothing gets charged.
Once you have bought your Revolut Reader, the same transaction fees apply regardless of your current Revolut plan:
- UK consumer cards transaction fees: 0.8% + €0.02
For example, total fees for a €30 payment with a UK card will be €0.26, that is a blended 0.87%.
- International, euro and consumer cards transaction fees: 2.6% + €0.02
For example, total fees for a €30 payment with European card will be €0.80, that is a blended 2.67%.
If you process mostly UK consumer cards, then the Reader’s fees are quite competitive: about half of what competitors Square or SumUp charge.
Nonetheless, if you operate in the EU, then transaction rates are quite high compared to that of other solutions.
Fully integrated in the Revolut ecosystem
The Revolut Reader is fully integrated in the Revolut ecosystem: all your Reader transactions are centralized in your business app, next to your transfers, online payments, and more. You can thereby get an overview of all your business cash-flows in your Revolut app, to stay in full control of your business.
If you are already a Revolut Business user, the Reader will fit seamlessly in your existing stack of tools, including expenses, subscriptions, company cards management, payrolls, etc. It will also enable you to access your in-person funds faster than with most other solutions.
We simply regret that Revolut does not offer integration with third-party tools like PoS software: the Reader is a great tool to process basic transactions but does not provide much added value apart from being a robust and simple in-person payment solution.
Verdict: a great payment solution for UK Revolut small merchants
|Card reader||Reader - €49 + VAT
|Transaction fees||UK consumer cards:
0.8% + €0.02
International, euro and consumer cards:
2.6% + €0.02
|Monthly fees||Based on your Revolut Business plan|
|Contactless||Cards, Google Pay, Apple Pay|
|Link to website||Start with Revolut Reader|
The Revolut Reader was designed following Revolut’s core principles: simple, smart and transparent. The complete integration with the Revolut Business app make it a great add-on for Revolut merchants who want a simple solution to accept in-person payments.
The main strengths of the Reader are certainly its low rates for UK cards, and 24-hour payouts. The Reader is therefore a great solution for UK starting and small businesses, who already have a Revolut Business account.
Nonetheless, if you operate in the EU and are looking for a complete in-person payment solution, you might prefer robust alternatives, with more competitive rates on EU cards, standalone terminals, PoS integrations, compatibility with all banks, etc:
- As a small European business, you might be interested in Square or SumUp’s no-commitment offers, that have more advanced features and better rates in the EU.
- As a more established business, you can have a look at Yavin’s no-commitment offer with an advanced payment terminal and competitive rates for all cards.
Get started with the Revolut Reader now - link to offer