LONDON - British-based digital banking app Revolut is set to hire around 3,500 staff as it expands into 24 new markets thanks to a new global deal with payments giant Visa Inc, the two companies said on Monday .
The deal with Visa expands an existing agreement between the two firms and will see Revolut expand from its current markets of Europe and Australia to open in eight new countries including Brazil, Japan, Russia and the United States by the end of this year. The deal is not exclusive but will see at least 75 per cent of all Revolut cards carry Visa branding rather than that of rivals such as Mastercard Inc.He told Reuters that Revolut's average customer holds around 1000 euros in their account, giving a total deposit balance of around 8 billion euros currently, a minnow compared to global banking giants like HSBC and JPMorgan with trillion-dollar-plus deposit totals.
Source: News Formal (newsformal.com)
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