Jabil Teams with Fintech Leader Revolut to Scale Development and Production of Innovative Mobile Payment mPOS Solution
Jabil Inc. collaborates with Revolut to provide merchants with a custom, pre-certified mobile point-of-sale solution called Revolut Reader, enabling them to accept in-store or on-the-go payments. The collaboration aims to support Revolut's global expansion in merchant acquiring, with Jabil's retail automation technologies being showcased at NRF'24. The hardware platform offers instant, secure payment transactions for debit and credit cards, mobile payments, and supports more than 150 currencies. The ongoing collaboration between Jabil and Revolut is scaling manufacturing to meet the growing demand for Revolut Reader, with a focus on continuous innovation to simplify and grow sales for retailers.
Positive
Jabil Inc. and Revolut's collaboration aims to support Revolut's rapid growth trajectory and global expansion in merchant acquiring.
Revolut Reader offers instant, secure payment transactions for debit and credit cards, mobile payments, and supports more than 150 currencies.
Jabil and Revolut are scaling manufacturing to meet the growing demand for Revolut Reader and continue to collaborate on new features and capabilities based on Revolut’s product roadmap.
Revolut's collaboration with Jabil in the production of the Revolut Reader signifies a strategic move to capture a larger share of the merchant acquiring market. The emphasis on a seamless user experience with instant and secure transactions, as well as the ability to accept a wide array of payment methods, positions Revolut to cater to the needs of small to medium-sized merchants who are increasingly looking for versatile, mobile POS solutions.
From a market perspective, the choice to operate with a pre-certified hardware platform accelerates the deployment process, bypassing lengthy certification procedures and potentially shortening the sales cycle. This strategic partnership leverages Jabil's manufacturing capabilities and Revolut's digital banking expertise, which could lead to increased market penetration and revenue growth for both companies.
Furthermore, the support for payments in over 150 currencies and robust security features, like EMV and PCI compliance, aligns with the global trend towards cashless transactions and the need for secure digital payment options, particularly in the context of rising cybersecurity threats.
The announcement of Jabil and Revolut scaling up the production of the Revolut Reader is indicative of strong demand and potential revenue growth for Revolut. Investors should note the implications of such a partnership on Jabil's financial performance as well, considering their role in the design, development and manufacturing of the device.
While the immediate financial impact may not be fully quantifiable, the long-term revenue potential stemming from the ongoing innovation and product roadmap collaboration could be substantial. The diversification of Revolut's product offerings could also lead to improved customer retention and acquisition, contributing to a more stable and potentially growing revenue stream.
It's also important to consider the competitive landscape and how this product positions Revolut against other players in the financial technology sector. The ability to offer a differentiated, high-performance POS solution could enhance Revolut's competitive edge, potentially impacting market share and investor sentiment.
The integration of robust security features in the Revolut Reader, such as EMV and PCI compliance, is a critical aspect of the product, especially in the financial technology industry where regulatory scrutiny is high. Compliance with local and international security certifications not only mitigates legal and financial risks associated with data breaches and fraud but also builds trust with merchants and consumers.
Given the global reach of Revolut's services, adherence to diverse regulatory requirements is imperative. The partnership with Jabil, which has experience navigating complex regulatory landscapes, may provide Revolut with an advantage in ensuring that their payment solutions meet stringent legal standards, thereby avoiding potential compliance-related setbacks and fostering consumer confidence.
01/15/2024 - 08:00 AM
Shared culture of excellence fuels momentum for Revolut Reader, which provides merchants with fast, easy, and secure in-person and mobile payments
Proven hardware platform benefits from Jabil’s specialized payment expertise, longstanding retail experience, and global manufacturing capabilities
Seamless collaboration drives delivery of high-performance, customized mobile point-of-sale (POS) solutions
NEW YORK --(BUSINESS WIRE)--
Jabil Inc. (NYSE: JBL) today announced ongoing innovation between its payment solutions business unit and Revolut, a digital banking pioneer and global financial super app provider, to support the neobank’s rapid growth trajectory and global expansion in merchant acquiring. Jabil’s custom, pre-certified Point-of-Sale (POS) hardware platform, as well as other retail automation technologies transforming digital commerce, will be on display at NRF’24 (Booth 4375 ).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240115942077/en/
Jabil and Revolut are scaling production of Revolut Reader, a custom, pre-certified, mobile point-of-sale solution that makes it easy for merchants to accept in-store or on-the-go payments. (Photo: Business Wire)
“Jabil played a major role in accelerating time to market for Revolut Reader by providing critical product design, development, testing, and certification capabilities,” said Alex Codina, general manager of Merchant Acquiring at Revolut. “Their longstanding payment expertise, proven experience building high-performance hardware platforms, and software-integration skills helped us move quickly and decisively to deliver a differentiated offering to our business customers.”
Revolut Reader Offers Instant, Secure Payment Transactions
Starting in 2021, Jabil has collaborated with Revolut to diversify its product portfolio, including the launch of Revolut Reader, a compact, custom hardware platform that enables merchants to accept in-store or on-the-go payments. The affordable and lightweight pocket-sized reader offers instant and secure transactions for debit and credit cards. Chip, PIN, and contactless payments from all major credit-card companies are accepted, as well as mobile payments, such as Apple Pay, Google Pay, and Samsung Pay. Flexible transaction processing modes encompass Near Field Communication (NFC) and QR codes, along with BLE connectivity.
Built-in support for EMV, PCI, as well as local and international security certifications, offers highly secure and compliant operations while robust performance enables transactions to be completed in seconds. Ideally suited for small to medium-sized merchants, Revolut Reader features simple set-up, an intuitive user interface, and support for payments in more than 150 currencies. The pre-certified hardware platform can be integrated with existing POS systems using Jabil-provided Application Programming Interfaces (APIs) and a Software Development Kit (SDK).
“We set very high expectations for end-user experience and focused on meeting Revolut’s specific objectives for device layout, along with screen and touchpad functionality,” said Mauricio Ferreira, senior director, Point of Sales for the Digital Commerce business unit at Jabil. “Our strengths in product design, engineering, development, supply chain, and manufacturing offered Revolut a ‘one-stop shop’ solution to meet current and evolving requirements. We look forward to growing our valued relationship with Revolut.”
Ongoing Collaboration and Cooperation
Jabil and Revolut are scaling manufacturing as demand for Revolut Reader intensifies. Additionally, the organizations continue to collaborate on new features and capabilities based on Revolut’s product roadmap.
“Jabil is a valued member of the Revolut Reader team,” said Jesús Romo-Morales, head of In-Person Payments at Revolut. “We look forward to continuing our journey of innovation, especially now that retailers around the world are realizing how quickly and easily Revolut Reader can simplify and grow their sales.”
Innovative Digital Commerce Solutions Showcase at NRF’24
At the 2024 National Retail Federation show, Jabil’s retail business experts will showcase the latest innovations powering the retail ecosystem — from warehouse automation and in-store robots to electronic shelf labels, point-of-sale systems, contactless and embedded payment solutions , intelligent vending machines, self-checkout systems, and more. Known for its global manufacturing footprint, experienced engineering team, and ability to navigate complex supply chains, Jabil collaborates with leading retail-tech innovators, including Ocado, Revolut, SumUp, and VusionGroup, to name a few.
Related Jabil NRF News
About Jabil :
At Jabil (NYSE: JBL), we are proud to be a trusted partner for the world's top brands, offering comprehensive engineering, manufacturing, and supply chain solutions. With over 50 years of experience across industries and a vast network of over 100 sites worldwide, Jabil combines global reach with local expertise to deliver both scalable and customized solutions. Our commitment extends beyond business success as we strive to build sustainable processes that minimize environmental impact and foster vibrant and diverse communities around the globe. Discover more at www.jabil.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20240115942077/en/
Michael Kovacs
michael_kovacs@jabil.com
Source: Jabil, Inc.
What is the name of the custom, pre-certified mobile point-of-sale solution provided by Jabil in collaboration with Revolut?
The custom, pre-certified mobile point-of-sale solution provided by Jabil in collaboration with Revolut is called Revolut Reader.
What does Revolut Reader offer to merchants?
Revolut Reader offers instant, secure payment transactions for debit and credit cards, mobile payments, and supports more than 150 currencies.
What is the focus of the collaboration between Jabil and Revolut?
The collaboration between Jabil and Revolut aims to support Revolut's global expansion in merchant acquiring.
What is showcased at NRF'24 by Jabil's retail business experts?
At NRF'24, Jabil's retail business experts will showcase the latest innovations powering the retail ecosystem, including warehouse automation, in-store robots, electronic shelf labels, point-of-sale systems, contactless and embedded payment solutions, intelligent vending machines, and self-checkout systems.
