UK digital-only bank Revolut has launched GBP Direct Debits for all EEA customers with local UK account details.
The new functionality will utilise London-based聽FinTech聽Modulr鈥檚 Direct Debits Mandate service, and allows users to make and schedule direct debit payments from their Revolut accounts.
Nik Storonsky, CEO and founder at Revolut said the new feature would provide customers with an alternative digital payments infrastructure to traditional banking.
鈥淕BP Direct Debits are the latest integration, as we build towards becoming the bank of the future,鈥� he said.
鈥淲ith Modulr, we not only have a partner we know and trust, but one who we can work with to launch new payment products with ease.鈥�
Myles Stephenson, CEO and Founder at Modulr added: 鈥淩evolut is a leading global challenger in financial services, and it continues to grow in its prominence as an alternative to legacy banking options.
鈥淯tilising our APIs, businesses such as Revolut are able to offer customers a payments solution fit for the 鈥業nstant Economy鈥� world we live in – where payments need to be instant, reliable and easy, as customers will no longer accept anything less.
鈥淲ith our technology, Revolut adds another string to its bow, improving the offering for existing customers and growing its appeal and attraction to new customers too.鈥�
In October Modulr announced it will invest 拢20m in Scottish FinTech.