Revolut App Suffers Global Outage Affecting Payments
Translated & summarized from Calcalist by baba
Fintech company Revolut is experiencing a global service disruption affecting its app and credit card functions, with users reporting issues across multiple countries. The company has acknowledged the problem and stated its engineering teams are working on a fix. This outage occurs shortly after Revolut reported a data breach last month and comes as the company prepares to launch in Israel and expands its US banking services.
The story in 6 lines · by baba
- Revolut's app and credit card services are experiencing a global outage affecting numerous functions.
- Users in the UK, France, Spain, the Netherlands, Germany, Poland, Greece, and Cyprus have reported issues.
- The company has acknowledged the disruption and stated its engineers are working to restore services.
- The outage impacts services like credit card payments, money transfers, and ATM withdrawals.
- This incident follows a reported data breach and information leak at Revolut last month.
- Revolut is preparing to launch in Israel and recently received tentative US banking approval.
Users worldwide are reporting disruptions with the app of fintech giant Revolut, which has also impacted credit card usage. The company acknowledged the issue, stating on X that "multiple services" are affected, potentially preventing certain transactions. "Our engineering teams are working to restore full service as quickly as possible," Revolut said in a statement. Reports of the outage came from countries including the UK, France, Spain, the Netherlands, Germany, Poland, Greece, and Cyprus. The British company, which plans to launch in Israel under a "lean bank" model, serves over 80 million private and 800,000 business clients globally. In the past year, Revolut reported revenues of £4.52 billion and a profit of £1.3 billion. An update on the company's online system indicated 31 services are unavailable, including credit card payments, money transfers, ATM withdrawals, and account access. Revolut did not specify the cause of the outage, the number of affected customers, or a timeline for resolution. This incident follows a data breach reported by Revolut just last month, where hackers impersonated an Italian government agency to solicit customer information. Revolut, recently valued at $115 billion, is considered one of Europe's highest-valued startups and recently received tentative approval for US banking services.