The FAST-growing Revolut is hoping to broaden its appeal with a new feature that will give customers cash back when they shop online with the app.
evolut, which has a banking license, said customers can earn 3 percent cashback from retailers in Ireland.
The new Shops service allows users to search and browse products from more than 1,000 brands.
These include Smyths Toys, Woodies, Arnotts and Brown Thomas.
International retailers such as Ikea, Amazon, JD Sports, Harvey Norman and TK Maxx have also joined the cash back plan.
Other big brands for online stores are Nike, Adidas and a number of luxury fashion houses.
Revolut says it has two million users in this country.
Users also have the option to split their payment with Pay Later, with Revolut saying it’s the first pay later product in Ireland to use an approved credit limit.
The new “Shops” feature applies to all customers of the bank, regardless of which tariff they have.
The company said: “Revolut Shops rewards users with instant cashback of 3 percent on every purchase, as long as they start their shopping journey through the Revolut app and pay in full with their Revolut card.”
It said that the cash will be automatically deducted at the checkout.
It says there are no limits on cash refunds from the purchase of products in a sale, which means Revolut ‘Shops’ offers cash back on all other savings, including promo codes and sale discounts.
Christopher Guttridge, general manager of lifestyle products at Revolut, said: “As the cost of living increases, we continually deliver product innovations aimed at meeting our customers’ everyday financial needs and desires, while giving them greater financial control.”
Customers who make a purchase in the Revolut ‘Shops’ using Pay Later can use the payment method but will not receive 3-part cashback.
If a customer repays the installments early, there are no additional fees, according to Revolut.
Revolut continues to grow its customer base in that country but is in the process of winding up parts of its Irish operating unit after abandoning plans to run its western European business from Dublin.
The London-headquartered company, which is licensed as a bank in Lithuania, has left Revolut Payments Ireland with just one director for most of 2022.
https://www.independent.ie/business/personal-finance/banking/revolut-to-offer-customers-cash-back-if-they-shop-online-through-its-app-42064138.html Revolut offers customers cashback when they shop online through its app