via FinTech Futures
UK challenger Revolut will be launching its US card with Mastercard by the end of this year. However, the fintech will also be primarily issuing Visa-branded cards in its global expansion.
Revolut will use Visa to expand in 24 new markets, for a total of 56 around the world and simultaneously partner with Mastercard for at least 50% of existing and future cards issued in Europe (Visa will have the other half), according to a statement.
The fintech uses its licence with Lithuania’s central bank to service Europe, but it will have to partner with a US-licensed bank when it starts rolling out cards to US citizens. (more…)