The Revolut financial application enters the world of hotel reservations this Tuesday, having announced its new feature – ????Stays– that works to allow users to make accommodation reservations.
Revolut stays came about as a result of travel restrictions imposed by the pandemic with the intention of providing a pleasant return to the travel experience for its customers.
“(…) After 18 months of endless restrictions and blockages, we want to give people more and let their money travel on”Revolut’s director of savings and lifestyle Marsel Nikaj said loudly Business Insider.
Although the digital application in the area of travel by rental car, flights and destination options is to be expanded somewhat, it will initially focus on this new function in addition to the previous ones.
In addition, according to the London company’s blog, Premium and Metal customers will receive, among other things, a refund of 10% of their payment based on the money that is converted into the expenses.
Initially, the European company was active in Great Britain and dedicated itself exclusively to the digital processing of transactions in 25 different currencies, within which there were no crypto currencies. They targeted Bitcoin (BTC), Litecoin (LTC), Ether (ETH), XRP and finally Bitcoin Cash (BCH) in 2017, as well as users who operate with cryptocurrencies, as the use of cryptocurrencies was approved in their respective wallets.
The factor of having different types of coins makes it more attractive to use, there Fintech enables users to make direct payments abroad without receiving any surcharges or having to carry out additional transactions. You can also send and receive money in any currency as long as it is within the 25 available currencies.
According to previous articles on our Cointelegraph portal, Due to the global economic crisis, Revolut decided to expand cryptocurrencies to customers outside of the metal and premium categories.
By February 2020, the company saw a huge rise in the European financial technology environment, and in March of that year, Revolut spread to the United States. In this new beginning, as at the beginning in Europe, the application did not have cryptocurrencies, but partnerships with Mastercard and Visa.
When in doubt why cryptocurrencies weren’t among the currencies the fintech company was working with at the time, Revolut’s director of marketing and communications, Chad West, told Cointelegraph last year that Das “It has chosen to gradually introduce additional services to the US market rather than launching them all at once.”
Digital banking, founded in London in 2015, was categorized as a “unicorn” technology in 2018. Due to the fact that it was valued at $ 1 million three years after its launch, specifically at $ 1.7 million after the Series C investment round.
It currently has 16 million users and is valued at $ 33 billion. Revolut raised $ 800 million thanks to a funding round led by SoftBank and Tiger Global. At that time, there was a difference of $ 300 million compared to the previous year, as Revolut raised $ 500 million in 2020 and the value of the financing round organized by the TCV company was $ 5.5 billion.
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