In an economic climate where every penny counts, it’s essential for businesses to lower costs wherever possible, including transaction fees. Revolut’s entry-level card reader offers some of the lowest transaction fees we’ve tested, plus a range of features that streamline in-person payments.
But does it truly deliver on its promises? My in-depth review will dissect every facet of the Revolut Reader to help you determine if it’s the best solution for your business needs.
From its straightforward pricing model to its compatibility with various payment methods, and even how it stacks up against competitors, I’ll equip you with all the information you need to make an informed decision
How Much Does the Revolut Reader Cost?
The Revolut Reader may seem affordable at £49 for the device and a pay-per-transaction fee of 0.8% + 2p, but it’s important to note that it requires a Revolut Business account to operate. This adds another layer of cost, depending on your business needs.
That said, as you can read in our full review, the Revolut business account has a lot to offer and, for certain business types, gets one of our top votes for features and affordability.
Revolut Business offers four plans:
- Free: £0 per month with basic features
- Grow: Starting from £19 per month
- Scale: Starting from £79 per month
- Enterprise: Custom pricing tailored for larger businesses
The Grow and Scale plans offer additional perks such as no-fee international and local transfers, bulk payments, and more. If you conduct numerous or large transactions, these perks may be worth the added cost, but be sure to factor the cost of the plan into your overall pricing calculations.
What are the Pros and Cons of the Revolut Reader for Taking Payments?
- Low Transaction Fees: The Reader offers a compelling fee structure at just 0.8% + £0.02 per in-person transaction.
- Rapid Fund Transfer: Funds can be moved to your Revolut Business account in as little as one business day.
- Multi-currency Support: The device allows you to accept payments in over 150 currencies.
- Ease of Use: Simple set-up and an intuitive user interface.
- Requires Revolut Business Account: To use the Reader, you must have a Revolut Business account, which comes with its own set of fees, starting from £0 per month for the basic plan to £79 per month for more extensive features.
- Limited Payment Methods: While the Reader supports most mainstream credit and debit cards, it does not offer an option for mobile payments like Apple Pay or Google Pay.
- Hardware Reliability: Some users have reported occasional hardware glitches, although these appear to be relatively isolated incidents.
Revolut Reader Key Features
To determine if Revolut Reader is the right fit for your business, it is important to understand its full range of features.
Revolut Reader supports a variety of payment methods to make the transaction process as smooth as possible for your customers. It accepts chip and PIN and contactless payments from all major card brands, as well as mobile payments such as Apple Pay, Google Pay, and Samsung Pay.
Sales Catalog and Free EPOS App
Revolut Reader comes with a free EPOS (Electronic Point of Sale) app that allows you to efficiently organize your product list and customize your sales catalogue, making the checkout process faster and giving you more control over the selling process.
Currencies and International Trade
Businesses that operate across borders will appreciate the currency support offered by Revolut Reader. You can send invoices in 28 currencies, which is a valuable feature for international trade.
Integrations and Reporting
If you are already using third-party software for your business operations, you will appreciate Revolut Reader’s adaptability. It offers over 21 integrations, including popular ones such as Sage, QuickBooks, and WooCommerce, surpassing competitors such as Stripe and Tyl in this regard.
Revolut Reader is PCI compliant, ensuring secure transactions. It also offers credit checks, which adds an extra layer of protection against potentially problematic customers. However, it is worth noting that Revolut Reader does not provide a fraud prevention feature, which could be a concern for some businesses.
Last, but not least, Revolut Reader comes with a virtual terminal feature, enabling you to take online payments. This versatility was a significant factor in Revolut securing a place on our list of the best payment gateway providers.
How to Take Payments with Revolut Reader
Taking payments with Revolut Reader is a straightforward process, making it convenient for both business owners and staff. Here is a simple guide:
- Set up the device. Ensure you have a Revolut Business account and pair the Revolut Reader with your smartphone or tablet via Bluetooth. You will also need to install the free EPOS app to manage transactions.
- Initiate the transaction. Once your sales catalogue is set up in the EPOS app, select the items for purchase and proceed to the payment screen. The Revolut Reader will automatically prepare to process the chosen payment method.
- Choose a payment option. Revolut Reader supports a variety of payment methods, including chip and PIN, contactless cards, and mobile payments like Apple Pay, Google Pay, and Samsung Pay. Your customer can choose their preferred way to pay.
- Complete the transaction. Once the customer authorizes the payment, the transaction is complete. You will see a real-time update in the EPOS app, and both you and the customer will receive a receipt.
- Process refunds or cancellations. If needed, you can easily manage refunds and cancellations through the EPOS app.
Revolut Reader vs. Competitors (e.g., Square, Zettle)
Choosing the right card reader is an essential decision for any business owner. To help you make a choice, here is a comparison of the Revolut Reader to two of its main competitors: Square and Zettle.
|Payment processing fees||0.8% + £0.02 per transaction||1.75% per transaction||1.75% per transaction|
|Settlement time||1 business day||1-2 business days||Up to 2 business days|
|Payment methods supported||Chip and PIN, contactless payments, digital wallets (Apple Pay, Google Pay, Samsung Pay)||Chip and PIN, contactless payments, digital wallets (Apple Pay, Google Pay, Samsung Pay)||Chip and PIN, contactless payments, digital wallets (Apple Pay, Google Pay)|
|Currency and international support||Invoicing and payments in 28 currencies||Multi-currency options (support is more limited than Revolut)||Multi-currency options (support is more limited than Revolut)|
|Integrations||Over 21 third-party integrations (including Sage, QuickBooks, and WooCommerce)||Fewer third-party integrations (may limit your ability to automate and streamline business processes)||Fewer third-party integrations (may limit your ability to automate and streamline business processes)|
|Security||PCI compliant||PCI compliant||PCI compliant|
|Additional features||Free EPOS app, bulk payments, recurring payments||Unique features (may charge extra for advanced functionalities)||Unique features (may charge extra for advanced functionalities)|
Revolut Reader Availability and Compatibility
|Device Compatibility||iOS & Android|
|Geographic Availability||UK, EU, US, limited international|
|Software Requirements||Revolut Business app only|
|Internet Connectivity||Requires active connection|
|Account Requirements||Revolut Business account needed; costs range from £0 to £79/month|
Revolut Reader Security and Protection
Ensuring the security and protection of both business and customer data is paramount when conducting transactions. Revolut has taken several steps to contribute to the secure use of its card reader, including:
- PCI compliance: The Revolut Reader is PCI compliant, meaning it adheres to the Payment Card Industry Data Security Standards (PCI DSS), internationally recognized regulations set to protect cardholder data.
- Credit checks: Revolut provides credit checks for businesses, offering a layer of financial scrutiny that helps identify potentially high-risk customers or partners.
- Encryption: Data encryption is another important feature. Information passed between the card and the Revolut Reader, and subsequently to the Revolut Business app, is encrypted to prevent unauthorized access.
However, one notable drawback is that Revolut does not currently offer fraud prevention tools in its merchant accounts. This is a feature commonly found in many competitors’ products and contributes to a more secure transaction environment.