Revolut plans to launch one-click payment feature Revolut Pay, and has signed up Shopify, Prestashop, WH Smith, and Funky Pigeon
Aisha S Gani / Bloomberg :
Context & Ripple Effects
Revolut Pay is the checkout layer on top of a merchant business Revolut started two years ago, when it launched tools letting business clients accept online payments at a 1.3% take rate on UK and EU card transactions. The new feature converts that acceptance infrastructure into a wallet play: shoppers with Revolut accounts check out in one click at Shopify, Prestashop, WH Smith, and Funky Pigeon storefronts.
The playbook is well-worn. PayPal took its One Touch instant checkout global back in 2015, and Shopify has been pushing its own wallet beyond its base since it expanded Shop Pay to any US merchant on Facebook or Google. Revolut is betting its consumer app footprint can fund a third checkout network in the same slots.
First-order effects
- The four named merchants gain a one-click option that routes buyers through Revolut credentials rather than card forms, giving Revolut direct visibility into checkout volume on top of its existing 1.3%-and-2.8% merchant fee lines.
Second-order effects
- Shopify sits on both sides of the deal — hosting Revolut Pay while running its own Shop Pay network — so every wallet Revolut places in a Shopify storefront raises the stakes on which checkout owns the customer relationship.
- Other payment providers serving Prestashop-style open-source stores face pressure to match with bundled one-click wallets of their own or cede the highest-converting checkout slot.
Third-order effects
- If the pattern holds, checkout consolidates around credential-preserving wallets controlled by platforms with large consumer bases — Revolut, Shopify, PayPal — rather than by card networks, shifting pricing power toward whoever holds the saved payment credentials.
The trend: Fintechs with big consumer apps are converting their user bases into merchant-side checkout networks, following the one-click template PayPal and Shopify established.