- This will be the first such machine in Singapore and is an innovative way for customers to get their physical debit cards.
- These Revolut cards are exclusively in partnership with Visa. Based on research done by Visa, close to 40% of Gen Z consumers indicate that convenience is a crucial factor in determining which product they use to pay.
- Through the placement of this vending machine at Singapore’s largest university, Revolut aims to make money management more accessible to students, boosting financial awareness and literacy.
Revolut, the global fintech with more than 45 million customers worldwide has unveiled an innovative way for customers to get their physical debit cards with a first-of-its-kind vending machine located at the National University of Singapore (NUS). These Revolut cards are exclusively in partnership with Visa, a world leader in digital payments, enabling customers to enjoy the vast acceptance of Visa’s network – across 200 countries and by over 100 million merchants worldwide.
Through the placement of this vending machine at Singapore’s largest university, Revolut aims to make money management more accessible to students and educate them on healthy and smart financial habits, boosting financial literacy. Students below the age of 21 are often underserved by existing financial institutions. Through Revolut, they can get their very own debit card and gain access to a variety of money management tools, from budgeting & analytics to making payments locally and internationally and starting their investment journey.
Some of the many features Revolut has which students would find especially useful include:
Better managing everyday payments
- Sending & receiving money both locally and internationally – whether it’s splitting a dinner bill with friends or sending money to someone in Singapore or across the globe, with Revolut, it can be done with just a tap.
2. Making use of smart budgeting & analytics – Users can create spend categories and stay on top of their spend trends with analytics and notifications to track progress and avoid overspending.
3. Saving while spending – Users can enjoy up to 5% cashback on their favourite brands, all in-app with Shops.
Spending like a local when travelling
- Seamless expense splitting when travelling in a group – whether on their exchange programme or planning for a graduation trip, when travelling in a group, it is often difficult to keep track of expenses manually. With Revolut’s Group Bills feature, group expenses can be seamlessly and instantly settled within the app, regardless of the currency the expense is paid in.
2. No more unnecessary FX fees – Revolut offers fee-free currency exchange on weekdays for up to S$5k per month for the Standard plan.
3. Enjoying the best exchange rates – Revolut allows users to exchange currencies at competitive rates. Users can store up to 34 currencies in-app and spend in over 150 currencies across the globe.
4. Travelling stress-free with security controls at your fingertips – Users can instantly freeze their card in-app or disable their card’s magnetic stripe in case they misplace it or observe any suspicious transactions. In addition, users can utilise Revolut’s unique feature—a single-use disposable virtual card that can be added to their e-wallet on a mobile device for use both in physical stores and online.
Learning about investments & starting their investment journey
- Getting an edge in investing with Stock Learn – A lack of knowledge is the first barrier to entry in making smart investment decisions that support one’s financial goals. Which is why, Revolut is committed to advancing financial literacy with in-app educational modules for Stocks which covers the basics of stock investing.
2. Investing in Stocks with as little as US$1 – This is perfect for new investors who want to start their investing journey. Revolut has over 1,000+ stocks and ETFs to choose from. Other asset classes in-app include precious metals like Gold, Silver, Platinum and Palladium.
Raymond Ng, Chief Executive Officer at Revolut Singapore said, “We are always looking for new and innovative ways to make money management accessible to our customers. We are really excited to launch Singapore’s first-ever debit card vending machine in one of the most established and largest universities here, making it easy for students to get their cards. Whether it’s spending in 150+ countries around the world, splitting bills seamlessly with friends, saving for a new Playstation or learning about various investing tools, Revolut will be their all-in-one money companion.”
“At Visa, we believe in the power of collaboration and innovation. Working with valued partners like Revolut, who are at the forefront of creating innovative products tailored for the Gen Z segment, is crucial. These products not only help young people manage their money effectively but also educate them about investments, supporting their financial journey.
Based on our Gen Z research, close to 40 percent of Gen Z consumers indicate that convenience is a crucial factor in determining which product they use to pay, and the same number highlighted better rewards and offers would make them switch to alternative payment methods. By providing easy access for the youths to obtain their debit cards through the vending machines at NUS and providing great cashback when they shop and pay, we help to support this next generation to take control of their financial future,” said Adeline Kim, Visa Country Manager for Singapore & Brunei.
From today, customers will be able to get their free Revolut x Visa debit card by simply following the instructions on the vending machine. Once the card is dispensed, customers will need to scan the QR code on the envelope and sign up for a Revolut account, which only takes a few minutes. The final step is to link the new card to their account. This vending machine can also be used by existing customers if they want to get a new card.
Don’t have an account yet? Join Revolut for free
Manage your everyday spending with powerful budgeting and analytics, transfer money abroad, spend easily in the local currency, and so much more. Join 45M+ already using Revolut.
It’s free to download the app and create a Revolut account. You can access a variety of money management tools on your free Standard account, or you can upgrade to one of our paid plans to get even more from your money.
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