Revolut has announced that it is elevating its UK offering with its Perks feature, with the functionality soon to be made available to all UK Revolut customers.
The feature allows UK Revolut customers to unlock discounts and cashback on a number of brands simply by using their Revolut card.
When the offer is first launched, Revolut will activate three Perks from Trainline, National Express and HelloFresh which will be offered to all UK Revolut customers.
To unlock a new Perk, Revolut customers have to use their Revolut card 10 times. After every 10th purchase, Revolut automatically sends a new Perk. Customers will receive a notification when a new reward becomes available.
There are two main types of rewards available through Revolut Perks, discounts and cashback. The discount reward gives customers an instant discount at the merchant’s store when they pay using Revolut (either by card, online, or using Apple Pay/Google Pay). Customers either have to simply tap through to the store via the Revolut app, or redeem a discount code.
With cashback rewards, customers will receive a certain percentage of the purchase price back when they shop using their Revolut card with the relevant merchant (as long as the Perk is active).
Expert Analysis: Enriching its UK offering with incentives can be key as the firm looks to make strides in a market that presents a plethora of challenges for new incumbents.