Financial super app Revolut has launched a new tool for its travel product Stays that lets customers book their stay and pay when they arrive, according to a Wednesday (Feb. 23) press release emailed to PYMNTS.
Revolut Stays will now let customers in the United Kingdom and the European Economic Area make a reservation with the app and choose to pay when they arrive for their stay with their Revolut card or pay upfront using the app at the time of booking, the release stated.
When paying with Revolut, Premium and Metal customers will get 10% cash back while Standard and Plus customers will receive 7.5% cash back, according to the release.
The money will be deposited instantly into their Revolut account when paying upfront, and on the 17th of the following month, after check-out, for customers paying at the property, the release stated. Regardless of plan, Revolut customers can access exclusive rates on accommodation, with no booking fees when using Revolut Stays.
“Many of us have been dreaming of our next holiday for the past two years,” said Revolut Lifestyle Product Lead Christopher Guttridge in the release. “Now, with travel restrictions easing but prices rising, helping people spread the cost of those holidays is something we’re delighted to offer.”
Revolut said in the release its U.K. users spent over 27% more on travel in 2021 compared to 2020, with spending on travel-related services such as car rental, airline tickets, hotel and resort accommodation also increasing.
Last week, Revolut launched a payroll management service in the U.K. that lets customers manage payroll out of their business banking accounts.
Read more: Revolut Launches UK Payroll Service
“We’ll calculate taxes, (National Insurance) and pension contributions for you,” Revolut said at the time. “All you need to do is set up automatic salary payments and tell us when you’d like them paid.”