Revolut wants to challenge American Express with a new credit card strategy 😤💳; Wise rides 28% volume surge to £39.1B in Q4, sets sights on trillion-dollar money movement 📈💸

FinTech is Eating the World, 16 April

Hey Everyone,

Good morning & happy Wednesday! Today’s issue is a special one as we’re looking at two European FinTech giants - Revolut that wants to challenge American Express with their new credit card strategy (what it’s all about & why it could be huge + more bonus dives into Revolut), and Wise that just crushed their latest quarter and is now setting sights on trillion-dollar money movement (unpacking their latest numbers and why they matter + a bonus deeper dive into Wise & how it aims to become the network of the world’s money). So let’s just jump straight into the amazing stuff 🌶️

Revolut wants to challenge American Express with a new credit card strategy 😤💳

The news 🗞️ European FinTech giant Revolut is making a strategic move into the rewards-based credit card market, positioning itself as a direct competitor to established players like American Express AXP 0.00%↑.

The company, which boasts over 50 million customers globally, is in the early stages of developing a points-based credit card that will leverage its proprietary RevPoints loyalty system launched in mid-2024.

Let’s take a closer look at this, see why it matters, and what could come next.