LONDON (Reuters) – British biking aggregation Thomas Cook (TCG.L) has partnered with fintech close Revolut to barrage a “pay-per-day” biking allowance account which automatically provides users with medical awning by tracking their area through their adaptable phones.
Revolut, the agenda coffer start-up, said it could define customers’ area through its app technology and automatically about-face on the advantage back required, starting at beneath than 1 batter ($1.38) a day.
“We capital to actualize a blazon of allowance that uses technology to advice our barter and alone awning you on the canicule you absolutely bare to be covered,” Revolut CEO Nikolay Storonsky said in a statement.
Revolut was founded in July 2015 and has developed quickly, with 1.2 actor users globally and about 600,000 in Britain. It allows barter to barter currencies at ante acclimated by banks and pay by agenda in altered countries after all-embracing fees. In December, it additionally launched cryptocurrency trading.
Thomas Cook Money, the new banking arm of Thomas Cook, will accomplice Revolut to accede the allowance policies.
Reporting by Alistair Smout; Editing by Adrian Croft
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