TransferWise is understood to be exploring issuing debit cards linked to customer accounts . The service , billed as a P2P payment platform , focuses on sending money abroad , serving customers sending money to overseas or paying overseas bills . Revolut, a zero-fee foreign exchange card, has attracted over 300,000 users in a year and raised £6.75 million from renown venture capital firm Index Ventures, one of TransferWise's investors. However , providing holiday makers with foreign currency is a closely linked space which has seen a flood of interest this year . Companies such as Revolut , Monzo , Curve and TravelEx have all launched services which allow customers to spend money on cards abroad at no commission , prompting TransferWise to consider the merits of launching its own card , according to reports . The news came days after Barclay ’s announced that it had teamed with the Commonwealth Bank of Australia in order to allow customers to send instant mobile payments around the world , using just a phone number .
TransferWise is understood to be exploring issuing debit cards linked to customer accounts . The service , billed as a P2P payment platform , focuses on sending money abroad , serving customers sending money to overseas or paying overseas bills . However , providing holiday makers with foreign currency is a closely linked space which has seen a flood of interest this year . Companies such as Revolut , Monzo , Curve and TravelEx have all launched services which allow customers to spend money on cards abroad at no commission , prompting TransferWise to consider the merits of launching its own card , according to reports . The news came days after Barclay ’s announced that it had teamed with the Commonwealth Bank of Australia in order to allow customers to send instant mobile payments around the world , using just a phone number .