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Revolut chooses Bottomline to deliver real-time payments

By Evie Rusman

Revolut has partnered with Bottomline Technologies to deliver real-time payments to its UK retail and business customers.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
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This comes at a time when instant payments are increasing in the UK. Bottomline’s Universal Aggregator offers new financial services with real-time payments connectivity designed to make it easier and quicker.

As a result, Revolut aims to develop and scale their real-time payment services quickly and cost-effectively.

Mikael Peydayesh, Product Owner of Core Payments at Revolut, said: “Bottomline’s real-time payment and settlement service provides all the core benefits of the historical access methods to Faster Payments.

“Given the competitive dynamic of a fast-growing scale-up organisation, Bottomline’s expertise and leading technology have helped us accelerate the delivery of a new service and allowed us to centre our attention on growing our business.”

Soon customers will be able to access and process one-off 24/7 instant payments through Revolut’s digital financial services platform.

Nigel Savory, Managing Director of Europe at Bottomline, said: “Creating reliable and innovative technology to serve a fast-paced, digital society is at the heart of the payments industry right now.

“We are delighted to provide Revolut with value-add functionality that speeds up the way their customers can pay and get paid and helps enhance the overall Revolut experience.”

In June, Bottomline also formed an alliance with digital bank Starling to launch real-time payments. Like with Revolut, the service will be 24/7 and allows banks to send and receive payments.

Revolut chooses Visa to drive expansion

Last month, Revolut chose Visa to help drive its global expansion. With the partnership, Revolut promised to hire 3,500 staff and expand its product offerings to five new regions.

To date, the young digital bank has raised approximately $340m in funding from venture capital firms including Index Ventures.

Revolut’s services are currently available in Europe, with a public beta underway in Australia. In addition, it also has plans to launch in the US, Singapore and Japan in the coming months.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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