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The new product launched on Friday, known as merchant acquiring, allows businesses in 13 European countries to accept online card payments directly into their .

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The new product launched on Friday, known as merchant acquiring, allows businesses in 13 European countries to accept online card payments directly into their. It will cost 1. With the service rolling out to eligible businesses in the EEA in the coming weeks.

Revolut said that businesses can accept payments in 14 currencies and funds can be converted to another currency at the interbank rate, onliine allows them to save money on foreign exchange. ASin what is now a booming sector due to the coronavirus pandemic.

Our mission is to democratise acceptance and we are already on the way. On Wednesday Revolut announced it had partnered with Modulr to allow its UK customers opportunity to be paid a day early, and launched a web app for its regular users.

Story continues Since launching inthe UK-based bank, which offers a range of money management tools has amassed more than 13 million retail customers. Its products include a rhohdda card connected to an app that allows users to spend different currencies at the interbank exchange rate with low fees.

Watch: Why can't governments just print more money?