Revolut Business has introduced a merchant acquiring platform in Australia that consolidates online, in-person, and account-to-account payment acceptance.
The UK-based fintech company announced that Australian businesses can now accept payments, settle funds, and manage payment operations through a single platform integrated with their Revolut Business account. The service combines payment acceptance with fund management capabilities within one system.
Platform structure and pricing
The merchant acquiring suite includes multiple payment acceptance channels. For in-person transactions, Revolut Business offers Tap to Pay on iPhone for smaller merchants and Revolut Terminal for businesses requiring dedicated hardware. The terminal is designed for continuous connectivity during payment processing.
Online payment acceptance operates through Revolut Pay, which functions as an account-to-account checkout option, alongside API integration, payment links, and invoice-based collection. The platform supports Apple Pay and Google Pay for digital wallet transactions.
Revolut Business has set transaction processing fees starting at 0.5% per transaction. The company states that payment settlement occurs within 24 hours, including weekends. Businesses can hold and settle funds in more than 30 currencies, which Revolut Business positions as a method to reduce currency conversion costs.
The service targets both small and medium-sized enterprises and larger corporate clients. Revolut Business reports 99.99% uptime for the platform.
Market entry and growth metrics
The launch follows expansion in Revolut Business's Australian operations. The company reported a 235% increase in monthly transaction volumes in Australia over the 12 months preceding the announcement. Revolut Business cited its retail customer base of over 70 million users globally as a potential audience for merchants using the acquiring service.
Card-based payments remain the dominant method in the Australian market, where businesses typically engage multiple third-party providers for payment acceptance, processing, and settlement.
Revolut Business commissioned research with YouGov examining administrative burdens on Australian business owners. The survey found that 83% of respondents identified finance and administrative tasks as the most time-intensive aspect of business operations.
According to James Roberts-Thomson, Head of Revolut Business Australia at Revolut, the platform aims to reduce reliance on multiple payment service providers by consolidating acceptance, processing, and settlement functions. The service competes with established merchant acquirers and payment facilitators operating in Australia.
