London, Sydney and Auckland , 14th February 2018: Global Processing Services (GPS), part of Rt. Hon. Lord Mayor of the City of London’s UK Business delegation which are currently in Australia this week; announces today that it has been selected to be the payment issuer processor for multi-currency FX money app Revolut, for the future launch of their app in the APAC region starting with New Zealand, Singapore and Japan.
Revolut is an app-based banking alternative and currently serves some 1,000,000 customers across Europe. A Revolut account can be set up in 30 seconds, enabling users to instantly send free money transfers in 26 currencies to banks around the globe; spend fee-free in 130 currencies with a contactless Revolut card; and exchange currencies at interbank rates in the app.
Once users have topped up their Revolut account, they can use their Revolut Mastercard® or Visa at millions of locations worldwide using the real exchange rate. The card automatically converts into the local currency at the real exchange rate, so you don’t have to worry about it.
GPS continues to pave the way in payment innovation supporting clients who are constantly looking for new ways to add value to their commercial offering and expand into new territories. Its GPS Apex platform and alternative banking solutions continue to be the preferred choice by many as it enables flexibility of innovation and speed to market. It has enabled high growth startups to scale-up quickly, when expanding into new territories, and has been powering the payment technology for Revolut since its initial launch in 2015.
Today, GPS has significantly expanded its client base globally with more than 3600 products using the GPS Apex platform, serving millions of card users across 33 different countries.
Rt. Hon. Lord Mayor of the City of London, Alderman Charles Bowman, comments: “I’m very pleased to have GPS joining my business delegation, as they are a real feather in the cap of the UK’s unmatched fintech offer. As an innovative, forward looking British company, I am confident they will do well in Australia and New Zealand.”
Suresh Vaghjiani, Managing Director at Global Processing Services comments: “Over the past years, GPS has been highly valued for our continued investment in our clients and partners, supporting them from the new product design phase to scaling up and launching into new territories. It is rewarding to see that our payment technology is powering many of the newly launched startups, to that of established Fintechs such as Revolut.” He adds: “We are honoured to have been selected to be part of Rt. Hon. Lord Mayor’s UK Business delegation to Australia and New Zealand. These two countries combined represent the 11th largest market in the world and through future innovative collaborations with the region, I am sure we’ll be launching even more new exciting products to market.”