Food delivery platform Just Eat is adding Revolut Pay as a payment method in its app and website in the UK and Ireland. Customers with a Revolut account pay with one click directly from their account, with no card details and no redirect, approving the transaction in the Revolut app with face or fingerprint recognition. From 28 October to 27 December, RevPoints members earn five times the usual points, and twice the points after that. Points can be used for discounts at checkout.

What it means: The partnership shows how large digital banks use their customer bases to win share from cards in online commerce. Account-to-account payments usually cost merchants less than cards, and Revolut, with tens of millions of users in Europe, can offer a ready audience without customers having to sign up for anything new. The points scheme is an incentive to change habits, which is the biggest obstacle for any new payment method. For delivery platforms, fast payment without typing in details reduces abandoned orders. Revolut has a significant presence in Greece, and Revolut Pay is already available at some online shops, while Greek banks are promoting IRIS for instant payments in physical and online stores. Competition between these channels is expected to intensify as the rules on instant euro payments become universal. For merchants, adding such options is worth comparing on actual cost per transaction, fraud protection and settlement time. Consumers should know that account payments do not always offer the same dispute rights as cards.

Read the original on Just Eat Takeaway.com

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