Revolut Offers New Spend Management Feature for SMEs

UK-based digital bank Revolut has announced upgrading its business accounts with new spend management capabilities.

The feature will let Revolut Business customers issue an unlimited number of physical and virtual cards to their teams and then monitor and manage their usage. The feature is available in the UK, US and across Revolut's EEA markets, where the fintech has over 500,000 active Revolut Business accounts.

Spend management is said to help Revolut target larger SMEs and corporates who demand more advanced features and puts the fintech in competition with dedicated expense management providers like Soldo.

Revolut new stats on its business customers, including that their number of transactions globally increased by 97% in 2021 to 7.4 million, as reported. However, the fintech has yet to provide an update on its overall number of Revolut Business customers.

Source: The Paypers