Integration Revolut Business on Cyprus

What is Revolut Business and who is it suitable for?

Revolut Business - UK fintech (also registered in the EU as Revolut Bank UAB), launched in 2017. Today - top 3 for freelancers, SMBs, and startups in the EU. Popular on Cyprus among IT companies, agencies, exporters, and expat entrepreneurs. Key pros - multi-currency accounts (EUR/USD/GBP/RUB and over 25 more), IBAN, instant transfers within Revolut, corporate cards for the team.

When to choose Revolut Business

• Small business, freelance, agencies — low subscription fees, easy activation
• B2B payments between EU countries — IBAN, SEPA, low fees vs banks
• Multi-currency business — sales in EUR/USD/GBP without conversion losses
• Corporate cards for the team — issuing virtual and physical cards in minutes
• Business with international counterparts — Instant transfers Revolut ↔ Revolut

When it doesn't fit.

• High turnover in acquiring — for retail with €100k+/month better JCC or Stripe
• Complex subscription models — Revolut is weaker than Stripe in recurring billing
• A marketplace with split payments — No Stripe Connect equivalent
• Need credit cards for the team — Revolut only debit (with overdraft)
• Russian clients — Revolut RUB transactions are limited by sanctions

Revolut Business Tariffs

• Free — €0/month. Free: 5 IBAN transfers/month, 1 user, basic features
• Grow — €19/month. Up to 10 users, 100 IBAN transfers
• Scale — €79/month. Up to 30 users, 1000 IBAN transfers, API access
• Enterprise — individual. No limits, dedicated manager

Equipping (Revolut Acquiring): 1% + €0.20 for EU cards, 2.6% + €0.20 for non-EU. Subscription: additional fee 0% (more advantageous than Stripe).

How to open a Revolut Business account in Cyprus

Activating Revolut for a Cypriot company is the simplest among all:

• Cyprus Limited (or a registered EU entity)
• Business description (a website is desirable but not mandatory)
• UBO and director passport
• Company address proof

Activation takes from 1 hour to 3 working days. No need for: VAT number (optional), bank account (Revolut is a bank itself), office address. Perfect for microbusiness and startups.

Revolut Acquiring for online payments

Revolut Acquiring - a product for card acceptance on the website. What's included:

• Hosted Payment Page or Payment Links (without integration)
• Embedded API for Inline checkout
• Apple Pay / Google Pay (mobile wallets)
• 3D Secure 2.0 for PSD2/SCA
• Multi-currency: deduction in EUR/USD/GBP without conversion
• Settlement in Revolut account instantly (vs 1-3 days with banks)

API and integration

Revolut offers a good API:

• Business API - creation of payment requests, receipt of transaction list, account balance
• Merchant API — embedded checkout, webhook for successful payments, refunds
• Open Banking API — for data reading, requires TPP registration

Authorization via OAuth 2.0 + JWT. SDKs for Node.js, Python, PHP. Documentation is good but less detailed than Stripe's.

Multi-currency on Revolut

The main feature of Revolut is a multi-currency account:

• One account holds balances in EUR, USD, GBP, RUB, RON, PLN, CZK, and over 20 more currencies.
• Accepting payments in USD - funds land in your USD balance, no conversion.
• Payment in EUR - to EUR balance
• Conversion only when needed - at the interbank rate with a low markup
• IBAN for each main currency (UK IBAN for GBP, EU IBAN for EUR)

This is a huge saving for businesses with international clients. For example, if you sell in USD, it lands in your USD balance, then you can convert to €100k in one step rather than 100 steps of €1k each.

Integration with e-commerce

• WooCommerce — Revolut Pay plugin, easy activation
• Shopify — Revolut Pay app in App Store
• Magento — extension from Revolut
• Custom backend - REST API, webhooks, SDKs in various languages
• WordPress — Revolut Pay plugin or WooCommerce

Subscriptions on Revolut

Revolut supports recurring through Payment Tokens - the card is tokenized on the first payment, subsequent charges are made via the token. Drawbacks compared to Stripe:

• No built-in customer portal (customer unsubscribes themselves)
• No smart retry for failed payments
• No built-in prorate logic for upgrade/downgrade

If your SaaS business has complex billing - Stripe is better. If it's simple subscription-based - Revolut will do.

Commissions vs Stripe vs JCC

• Revolut — 1% + €0.20 (EU cards), monthly subscription €0-79
• Stripe — 1.5% + €0.25 (EU), no monthly fees
• JCC — 1.5-2.5% (by agreement), monthly €15-50
• PayPal — 2.9% + €0.35 (EU), no monthly fees

Revolut is best for fees but the €19+ monthly subscription eats into profit on smaller turnover. Break-even point vs Stripe - around €4-5k turnover/month.

Security and compliance

Revolut Bank UAB is licensed by the Bank of Lithuania (EU bank), providing protection up to €100k through the EU deposit insurance system. PCI DSS Level 1 - customer cards do not end up on your server. PSD2/SCA implemented. GDPR compliant.

Integration timelines

Basic integration (payment links or hosted page) — 3-5 working days. With embedded checkout and branding — 1-2 weeks. With API integration and custom logic — 2-3 weeks. Activation of Revolut Business merchant account proceeds simultaneously (1-3 business days).