Global neobank Revolut has introduced Singapore’s first debit card vending machine at the National University of Singapore (NUS). This innovative approach allows students to quickly and conveniently obtain their Revolut x Visa debit cards. By simply retrieving a card from the vending machine, scanning a QR code, and signing up for an account, students can access their cards. Existing Revolut users can also replace lost or expired cards using the machine.
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Tailored features and financial tools for students
Revolut’s offering goes beyond providing a physical card. The app includes features designed with students in mind, such as budgeting tools, expense splitting for group bills, and access to international money transfers at competitive rates. Users can also take advantage of cashback offers of up to 5% on purchases from popular brands and exchange currencies without fees, offering cost-effective solutions for travel and online shopping.
The neobank aims to improve financial literacy through its “Stock Learn” module, which educates users on the basics of investing. Students can begin their investment journey with as little as $1, making it accessible to all. Revolut also emphasizes security with instant card freezing and unfreezing capabilities, as well as disposable virtual cards for safer online transactions.
Convenience for Gen Z consumers
Revolut’s move aligns with research conducted by Visa, which highlights that convenience and attractive rewards are key for Gen Z consumers when choosing payment methods. By bringing debit card issuance directly to students at NUS, Revolut simplifies financial management and encourages responsible spending among young users, particularly those under 21 who may not have access to traditional banking services.
Raymond Ng, CEO of Revolut Singapore, expressed enthusiasm for this initiative, noting its role in supporting students' financial needs through a modern, all-in-one digital solution.
