US -based digital banking start-up Revolut will launch its payment cards in the UK by the end of 2019 through its partnership with Mastercard . that customers’ deposits are not directly protected by government guarantees, but held in segregated accounts at traditional lenders. The deal will give access to Revolut 's network in 210 countries with a partnership on a minimum of 50 percent of all existing and future European Revolut cards. The announcement follows a similar agreement with Visa as part of the company's global expansion plans. The fintech intends to undercut established banks by offering accounts and local transfers for free, but it could face an uphill challenge in the US , where firms like Lawrence White already have a head start.
US -based digital banking start-up Revolut will launch its payment cards in the UK by the end of 2019 through its partnership with Mastercard . The deal will give access to Revolut 's network in 210 countries with a partnership on a minimum of 50 percent of all existing and future European Revolut cards. The announcement follows a similar agreement with Visa as part of the company's global expansion plans. The fintech intends to undercut established banks by offering accounts and local transfers for free, but it could face an uphill challenge in the US , where firms like Lawrence White already have a head start.