Revolut has now decided to move into the physical point-of-sale business with its acquisition of London-based Nobly POS. Nobly is a provider of technology for the hospitality sector. Launched in 2013, Nobly’s ePOS system lets hospitality businesses manage all their operations with its back-office app, order and inventory kitchen displays, loyalty, management systems, and online ordering app.
Currently, Nobly serves merchants across the United Kingdom, the United States, and Australia. The company’s product is now being integrated with Revolut’s payment hardware together with online and offline payment processing abilities.
Once it is completed, Revolut Business hospitality clients can open a digital account, utilize FX, issue cards, manage and sell their products while also accepting payments offline and online from a single unified platform.
Revolut stated that it aims to launch the product across all its international footprint. It also wants to increase its capabilities to serve its general customer base, a strategy that is expected to take it into direct competition with Square. The CEO of Revolut, Nik Storonsky, stated:
“The Nobly team has built a great product and expertise which will further advance our mission to offer a one-stop shop solution to enable merchants of every kind to manage their finances and run their businesses from a single platform.”
However, the transaction terms were not disclosed to the public.