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Revolut to Roll Out Mobile Service Offerings This Year
Revolut is poised to expand its market presence. By 2025, the British fintech will introduce its inaugural mobile plans in the UK and Germany. The main aim is to refresh a sector perceived as stagnant and non-transparent by offering a subscription-free service fully integrated into its app. The basic package will feature unlimited calls, texts, and data within the home country and a set data allowance for roaming in the EU and the USA (20 GB for the UK, 40 GB for Germany). Prices start at €12.50 or £12.50 per month. The price isn’t as competitive as some of France’s top deals, but not every country has had a disruptor like Free Mobile to shake up the market. Correction: the data is actually unlimited, so the offer is quite competitive, even compared to what Free offers!
MVNO, eSIM, and No Commitment Required
Revolut will function as an MVNO, which means it won’t deploy its own network but will instead lease capacity from an existing carrier. The specific partners have not been revealed, though it is known that some cover multiple European markets. Setup will be done through an eSIM, directly via the Revolut app. Users will have the option to keep their existing number or get a new one. The service is touted as having no hidden fees, with a completely digitized customer journey. True to the brand’s “no fuss” philosophy, no long-term commitments are required.
Addressing the Challenges of the European Mobile Market
The European mobile market is highly fragmented: there are over 30 national operators compared to just a few in the US or China. This fragmentation makes it easier for MVNOs like Revolut to enter the market since they face fewer regulatory hurdles to obtain licenses. Industry experts believe that such offerings boost competition without adversely affecting infrastructure investment. Revolut aims to exploit this opportunity, focusing on the mobile and travel-centric user, especially in a post-Brexit context where roaming charges have reemerged as a concern in the UK.
Revolut Embraces Diversification
This is not Revolut’s first venture outside of banking. The neobank already offers services such as eSIM for travelers, hotel booking options, and real estate loan solutions. The introduction of a mobile subscription is thus part of this diversification strategy. According to Antoine Le Nel, who is in charge of growth at Revolut, the aim is not to dilute the brand but to broaden its applications. The plans will initially be available to users on a waiting list and can be paid for with Revolut loyalty points. Therefore, it remains to be seen whether France will soon be included in this expanded offering.