FinTech: Revolut Ties With UK Restaurants To Offer Upto 30% Cashback To Diners
The new feature is added shortly after Revolut launched its Stays travel feature.
Revolut, the UK-based challenger bank, is rolling out new features in its banking app aggressively after the giant fundraise of nearly $800m in a Series E round earlier this month that valued it at $33 billion. The latest new facility for Revolut users is Restaurant Rewards, a cashback feature that rewards them for dining at partner restaurants across the UK. (CROWDFUND INSIDER)
Diners could earn as much as 30% cashback reward – one more reason to celebrate as COVID restrictions get lifted across the country.
Some of the well-known restaurants in London that will offer the incentive include Madison, Sky Garden and Radio Rooftop, Hawksmoor and Five Guys. Also on the list is Sushi Samba and Zuma, as well as The Bluebird. All told, more than 600 restaurants, pubs, bars, and coffee shops in London are participating in the Revolut cashback scheme.
Timing new features with COVID relaxations
It may be recalled that just last week the bank launched Stays, a travel booking feature in its app, that offered upto 10% instant cashback to users on their bookings for holiday accommodation. The neobank has budgeted an amount of 70 million pounds on these travel cashbacks.
“As the world begins to cautiously open up, we know everyone is desperate to get away whenever they can — whether it’s to Margate or Mallorca,” said Marsel Nikaj, head of savings and lifestyle at Revolut.
On the dining cashback feature, Mikael Peydayesh, Lead Product Owner said:
“At Revolut we are all about giving our customers more. We know how challenging lockdown has been for the nation and so we wanted to create an easy way to allow our customers to get more from their money while celebrating the return to normal life. We launched Revolut Rewards last year and since then we’ve been enriching it with new partners and tools, to make it more convenient, useful and enjoyable for our customers.”
“We are also very proud to support the restaurant industry – from independent businesses to bigger chains – after a very difficult year. So, why not raise a glass and make a toast in one of the restaurants available with Revolut’s Restaurant Rewards and get cashback instantly after paying the bill – take a break, without breaking the bank.”
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