Revolut Introduces Paymo Integration for Business Customers

FinTech unicorn Revolut has integrated a new feature called ‘Paymo,’ an online project management with integrated time-tracking software, which caters to freelancers and businesses charging by the hour.

Paymo's Revolut integration makes it easy to accept online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, manage tasks, create team schedules, track work time, and bill clients from the same platform. The app claims it has managed +2 million projects, tracked more than 110 million hours, and billed over $2 billion. Revolut’s competitors such as Stripe also integrates Paymo for the use of their business clients.

The newly-added feature comes a few weeks after Revolut launched its app and service in the US market in partnership with Metropolitan Commercial Bank. Before March 2020, Revolut’s services, which attracted over 10 million customers, have been available in the UK and Europe, with US applicants previously being held on a waiting list.

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Revolut was founded in 2015 and claims to be signing up 250 businesses and 9000 customers every day, and projects to reach a 100 million milestone in the next four years. The startup received its European banking license in 2018 as it makes preparations for a shift in Europe’s financial services landscape after Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term.

Revolut already holds an e-money license by the UK’s FCA, which was a precursor to getting the banking relationship with British banks. The aggregator service also allows Revolut to use Britain’s Faster Payments Scheme, a network used by the traditional financial industry. In addition, it has secured a remittance license from Singapore’s regulators and full authorization from Japan’s FSA, hoping to grab a slice of the region’s mobile payments business.

Revolut firm claims to have nearly two million daily active users who are using its foreign exchange and stock and crypto brokerage as well as peer-to-peer payments.