Challenger bank Revolut plans to accelerate its expansion in the US by issuing a Mastercard-managed debit card. The fintech has said also that it will use Mastercard technology to handle payments. In India, where banks have been reluctant to issue cards for years, MasterCard is expected to launch an app called Paytm which allows users to make payments with their smartphones. The digital bank is signing as many as 900,000 new users each month but has yet to generate a profit and is in talks about a new funding round.
Challenger bank Revolut plans to accelerate its expansion in the US by issuing a Mastercard-managed debit card. The fintech has said also that it will use Mastercard technology to handle payments. Visa will manage most of Revolut's non-US cards. The digital bank is signing as many as 900,000 new users each month but has yet to generate a profit and is in talks about a new funding round.