After securing Colombian banking licence, Revolut applies for another in Switzerland

Revolut is rapidly expanding its global banking footprint. The fintech giant recently secured a banking license in Colombia and has officially applied for a license in Switzerland. This follows their successful acquisition of a UK banking license with restrictions. For retailers and merchants, this signal is clear: one of the world's largest digital-first financial platforms is moving closer to offering full-scale, regulated consumer lending and credit products in more markets. As Revolut transitions from a payments app to a licensed bank, it gains the ability to hold deposits and offer balance-sheet lending. This typically leads to more competitive consumer financing rates, integrated Buy Now, Pay Later (BNPL) options, and smoother checkout experiences for users within their ecosystem. While this specific news focuses on Colombia and Switzerland, it represents Revolut's strategy to become a primary global credit provider. Merchants who cater to international customers or younger, tech-savvy demographics should watch these licensing wins closely. A licensed Revolut is a more powerful financing partner than a simple payment gateway, potentially offering lower merchant fees and higher approval rates for customer loans in the future.

Source: Finextra — Lending

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