Introduction to Revolut Bank and its Mexican Expansion
Revolut Bank, a prominent UK-based fintech giant, has commenced its beta testing phase in Mexico this week. The beta phase is set to continue until early 2026, with a full-scale public launch anticipated in January of the following year.
About Revolut Bank
Revolut is a technology-driven financial institution with operations in 40 countries and over 65 million users worldwide. Mexico marks its first major expansion outside of Europe, following the recent approval from the Mexican National Banking and Securities Commission (CNBV) to operate as a bank.
Beta Testing Phase in Mexico
Juan Guerra, CEO of Revolut Mexico, explained in an interview with El Economista that approximately 220,000 individuals are currently on a waiting list for access to the platform.
“At some point in January, we will release the waiting list, and everyone will be able to download the app and become a customer. Currently, interested parties must download the app and we will invite them gradually,” Guerra stated.
Guerra emphasized that the beta phase aims to engage with users and tailor the product to suit Mexican preferences, as Revolut’s successful European model cannot be directly replicated in the country.
“We need to understand what Mexicans like and dislike, making necessary adjustments before the mass launch in January,” Guerra explained.
Services Available During Beta Testing
Current beta testers can already utilize Revolut’s services in Mexico, including unique banking features such as scheduled payments, expense splitting, budgeting, and expenditure tracking. Users can also buy and sell over 30 currencies within the app, customize their debit cards, and look forward to additional services and features rolling out in the coming days and weeks before the December 31st deadline.
“There are several surprises in store. Our goal is to ensure that if you love Revolut today, you’ll adore it tomorrow; if you love it then, you’ll absolutely amaze the day after. We will consistently introduce new features or products within the app, such as new card colors or entirely new offerings, always innovating and addressing more user problems,” Guerra added.
Regulatory Compliance and Future Plans
Guerra confirmed that Revolut has no pending regulatory issues to operate as a bank in Mexico, apart from ongoing compliance requirements for any similar financial institution.
Winning Over the Public and Scaling Up
Guerra expressed excitement about Revolut’s Mexican expansion, highlighting the country’s significance to the British group. He stressed that this is just the beginning, with the ultimate goal of becoming Mexico’s most beloved bank within the next 12 months.
“The next 12 months will be about winning, and for me, winning means becoming the most loved bank in the country. It shouldn’t take us more than 12 months to achieve this, and once we do, the focus will be on scaling up to reach every corner of Mexico,” Guerra concluded.
Key Questions and Answers
- What is Revolut Bank? Revolut is a UK-based fintech company offering financial services, including banking features, in 40 countries with over 65 million users globally.
- When will Revolut’s beta phase in Mexico end? The beta phase is expected to last until early 2026.
- What services are available during the beta phase? Users can access unique banking features like scheduled payments, expense splitting, budgeting, and tracking expenditures. They can also buy and sell over 30 currencies, customize debit cards, and look forward to additional services rolling out before the December 31st deadline.
- What are Revolut’s future plans in Mexico? Revolut aims to become the most beloved bank in Mexico within the next 12 months, with plans to scale up and reach every corner of the country thereafter.
