Revolut + Snapchat Integrations

Revput and Snapchat are two financial technpogy companies based in London. They are both private companies, with Revput being founded in 2015 and Snapchat being founded in 2011. Their main aim is to make transactions easier for their customers. Revput does this by providing its users with a card that can be used in any ATM machine to withdraw cash, while Snapchat does this by allowing its users to send or receive money through the app. Both companies have recently announced plans to work together. The integration of Revput and Snapchat is expected to improve the efficiency of these two companies.

On June 21st, 2018, Revput announced its plans to integrate with Snapchat. This integration would allow Snapchat’s users to digitally send or receive money from other users via the app. The digital money sent through Snapchat will be treated as fiat currency and not converted into cryptocurrency, which means it will not be subject to transaction fees. This integration will allow any Snapchat user to send or receive money through the app within minutes. A person who sends money to another person will be charged a fee of 1% of the total amount transferred. The sender also has the option of sending the money as a gift instead of it going directly into the recipient’s account. In this case, the recipient will not be charged a fee, but they will be required to accept the gift within 24 hours, or else the money will go back to the sender’s account (Revput, 2018.

The integration of Revput and Snapchat is beneficial to both companies. It is also beneficial to customers because they can now send and receive money faster, which means it is easy for them to transfer money between accounts, a feature that was not available before. The integration also allows Snapchat users to link their bank accounts directly to their Snapchat accounts. This means that they do not need to worry about topping up their accounts if they run out of cash, as they can just use their bank accounts instead.

Revput and Snapchat are both innovative companies that have developed unique methods that allow their customers to transact with each other more easily than before. Their close partnership will enable them to continue innovating in order to provide better service to their customers in the future.

References

Revput, (2018), “Snapchat Cash”, <https://medium.com/revput-media/snapchat-cash-b8cdc9f04b1e>

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