Revolut continues to evolve its banking application and incorporates a new chat feature allowing neobank customers to chat to facilitate money exchanges.
Revolut continues to develop its “Super-App” by incorporating a new option for its European customers. It is simply a chat function to exchange messages like a WhatsApp (Stickers and GIFs included) while sending and requesting funds from other customers. Revolut guarantees end-to-end encryption of exchanges as well as the possibility of deactivating the function if necessary.
By integrating a chat into its application, Revolut responds to two needs expressed by its users. Firstly, to avoid having to use a third-party application to discuss a money transfer and secondly to facilitate conversations about money: more than two out of three Europeans (67.5 %) say they have difficulty talking about money, according to a European study.
For the moment, this chat functionality, like all those that Revolut has implemented in its application recently, seems to be reserved for Revolut customers, which still limits its use.
Revolut’s chat function looks exactly like Facebook Messenger
A great App inspired by Chinese Dragons (Wechat, Alipay)
We see there a strong desire to get closer to the giants of the Chinese super app like WeChat, which now offers many other services than online chat. With its online payment platform, Revolut also thinks of WeChat Pay or Alipay. A trend that seems to want to establish itself in Europe where neobanks wish to diversify their activities.
However, we must temper this comparison and realize that we are still far from approaching the power of the Chinese dragons and their eclecticism. Revolut is still very much rooted in its banking activities and its new functionalities only come to accompany its financial products, especially since competition is fierce in this area on the European market.
To follow us, we invite you to download our Android and iOS application. You can read our articles, files, and watch our latest YouTube videos.