More security in transactions, more confidence in possible returns. Who buys on-line it does too offline, But e-commerce can create complications, such as the possible doubts when supplying the card numbers or the probability (more frequent) of having to return a product that, when buying, we only see through a screen. The supepp financial Revolut diversifies its offer to attend to these phenomena in full wave of trade on-line: according to the eMarketer consulting firm, Spain was the third country in the world in which the e-commerce during 2020, with a 36% increase that only Argentina and Singapore surpassed.
Revolut is one of those fintech that are revolutionizing the world of finance. Specifically, in your case, personal finances. In short, it is a mobile super application that helps people get more out of their money and better manage their daily expenses.
It is available in 35 countries, and has more than 16 million registered users worldwide, of them more than 650,000 in Spain, a country where the e-commerce through mobile (known as m-commerce) it grew in Spain in 2020 by 42%.
Get more out of your money
Open a standard account in the app it has no cost. Each client can choose, first, what type of subscription they prefer (free or paid plans) and, second, request a physical debit card for payments offline. The objective of Revolut is to help its users get more out of their money, in such everyday actions as withdrawing cash from an ATM, paying at the supermarket, dividing a restaurant bill A neckline with the rest of the diners … And even buy bitcoin and other cryptocurrencies in a few clicks from 1 euro (although some commissions or limits may apply, depending on the plan). But now the app has gone one step further, diversifying its offer with functionalities that are better suited to purchases on-line.
Revolut, a comfortable and intuitive ‘app’, already has 15 million users worldwide
Last December, Revolut launched the Revolut Plus account, which is part of an offering of subscription plans to meet the needs of its customers. One of the strengths of Revolut Plus is that, for little more a month than the cost of a coffee, it provides additional protection for purchases: it offers coverage of up to 1,000 euros for damage or theft (subject to some conditions), the extension of the return or refund period up to 90 days, virtual cards to pay on-line with more security … and even the possibility of getting your money back if, due to an unforeseen event or illness, you cannot attend a show for which you had already bought tickets, also up to 1,000 euros a year. In short, it provides an extra layer of security for the consumer in the digital environment.
For 2.99 euros per month, the user accesses Revolut Plus, which, in addition to the advantages already mentioned, offers free international transfers and currency exchange for up to 1,000 euros per month –in both cases–, and the possibility of withdrawing cash, free of charge. , up to 200 euros, also per month.
These same coverages are available to clients of the other two payment plans, Premium and Metal (terms and conditions apply for all insurances; all information is available on the Revolut website).
Open a standard account in the app it has no cost. Each customer can choose what type of subscription they prefer (free or paid plans) and request a physical debit card for payments offline
Revolut Premium and Revolut Metal delve into these advantages, offering, among other additions to Revolut Plus, free currency exchanges and unlimited international transfers.
Also, for all plans (free and paid) it offers multiple advantages, such as an account with a European IBAN and discounts and cash reimbursements in major brands, as well as Junior accounts, specially designed for kids between seven and 17 years old, free of charge. (one Junior account for Standard, two for Plus, three for Premium and five Junior accounts for Metal). This product aims to lay the foundations for a good management of personal finances from the first years, in line with the general purpose of helping its users to get the most out of their money.
Keys to the rise of online commerce
How to explain that Spain was the European country where electronic commerce grew the most in 2020? Among other explanations, Carmen Limia, responsible for e-commerce in this market of the advertising group OMG, he resorts to the scenario of that spring, “when Spain was one of the countries with the strictest confinements”. Partly for this reason, “there was a ten-year leap”, with data as significant as 30% of buyers bought on-line food products for the first time, and an increase in the frequency of purchase of 44% of those who were already buyers on-line .
The volume of online purchases grew, and even more if we talk about those made through mobile. According to eMarketer data, they increased by 42%, and already account for 38% of the total e-commerce. “It has always been said that people looked at the product on the mobile phone and bought it on the computer”, reflects Limia, “but my experience is different: the mobile phone was not used because the user experience was worse. The barrier is usability: if you make it easy, the change in habits is going to happen for sure ”.
The OMG expert also minimizes the importance of generational customs in the use of electronic commerce: forced by confinement, she explains, many older people who do not have a computer at home with an internet connection started to buy through mobile phones. Now the challenge for brands is, explains the expert, to improve their availability on the digital shelf, where competition is fierce.