Revolut has partnered with Harvey Norman so shoppers can pay on the chain's Irish online store in one click, using their Revolut balance or saved cards. Revolut has more than 3.4 million customers in Ireland and 80 million worldwide. The company cites an average approval rate of 98.5% and checkout drop-off below 5%. The deal extends an existing partnership between the two firms in the UK.

What it means: Revolut's deal with Harvey Norman in Ireland shows neobanks no longer content with offering accounts and cards, and wanting to sit on the merchant side as well, as a payment method at online checkouts, claiming a share of revenue that until now went to card networks and traditional processors. Revolut's large customer base in Ireland is a strong argument for the retailer, because one-click payment without typing in details reduces abandoned baskets, although the approval and drop-off rates the company cites are its own figures rather than an independent measurement. The fact that the partnership extends an existing relationship in the UK shows these deals are built step by step, market by market, on results the merchant has already seen. For European online shops, it means checkout options will grow beyond cards, and it is worth comparing costs and conversion before adding new payment methods to their own checkout.

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