Revolut Partners With Tech Firm Jabil to Scale Development of Mobile POS

Technology firm Jabil is helping Revolut scale the production of its mobile point-of-sale system.

Revolut debuted its Revolut Reader in 2022, letting merchants accept in-store or on-the-go payments. Now, increased demand is leading the British FinTech to ramp up production, according to a Monday (Jan. 15) news release.

“Jabil played a major role in accelerating time to market for Revolut Reader by providing critical product design, development, testing and certification capabilities,” said Alex Codina, general manager of merchant acquiring at Revolut, in the release. “Their longstanding payment expertise, proven experience building high-performance hardware platforms, and software-integration skills helped us move quickly and decisively to deliver a differentiated offering to our business customers.”

The announcement comes ahead of NRF ’24 — the National Retail Federation’s yearly conference — where Jabil’s technology will be on display, per the release.

“It’s our Super Bowl,” Eric Olson, vice president of education at NRF, said of the event earlier this month, per a PYMNTS report Monday on the event.

Unlike last year’s conference, which focused on the return of physical retail and advancements like artificial intelligence to improve in-store experiences, this year’s show, “will center around translating those innovations into actionable results,” that report said.

The event will feature retail experts ranging from Walmart U.S. President and CEO John Furner to Ulta Beauty CEO Dave Kimbell and Salesforce Chair and CEO Marc Benioff, who will discuss strategies such as AI-driven personalization and point-of-sale technologies to enhance operational efficiency and customer experiences.

“Moreover, NRF 2024 is looking to overcome obstacles from 2023 such as retail shrink, which has plagued the retail sector, and inflation by focusing on long-term business growth, prioritizing high-quality customer experiences, and streamlining operations,” PYMNTS wrote.

Revolut’s expansion of its Reader tool follows last month’s news that the company expected its revenue to reach $2 billion in 2023 after rising to $1.1 billion in 2022.

“We strengthened our financial position, grew our customer base, launched multiple new products, expanded into new markets, and bolstered our risk, compliance and governance infrastructure,” Revolut CEO Nik Storonsky said at the time.