Revolut’s Mobile Plans: A New Era for Fintech?

British fintech giant Revolut is breaking into the telecoms industry with the launch of monthly mobile plans in the UK and Germany.

The new service promises unlimited texts, calls and data without long-term contracts, with roaming included across certain regions.

Revolut will be a mobile virtual network operator (MVNO), instead of an MNO. As an MVNO, it will lease network capacity from a well-established organisation.

This move into the telecom sector is set to disrupt the traditional mobile network market by offering a more user-friendly, transparent alternative that aligns with its customer-centric, digital-first ethos.

In a LinkedIn post, Hadi Nasrallah, GM Telco & Retail Director at Revolut, explains: “We see this as phase two of our original eSim product that was launched last April and has had millions of activations.

“Finally, as shared last week in our annual report, we've had 27 million downloads in 2024, being the number 1 finance app in Europe.

"We're focused on getting to 100 million daily active customers in 100 countries, telco would be a small part of that.”

A strategic focus 

Revolut’s motivation for entering the telecoms industry is based on its goal to challenge the status quo.

According to the company, consumers are too often subjected to unexpected changes, especially when roaming or travelling, or locked into inflexible contracts.

Revolut aims to handle these issues by offering app-based, straightforward mobile plans that mirror the values that remain integrated in its financial services - convenience, clarity and control - by acting as an MVNO.

It will create a seamless digital experience by integrating mobile plans within its existing app ecosystem. This will empower users to manage their mobile usage with ease (like they do with their money).

This strategy mirrors a wider trend in the fintech industry where organisations are expanding their ecosystems to evolve into multi-service platforms. 

European fintechs are beginning to branch out beyond core banking services to feature offerings like travel bookings, insurance, telecoms and crypto. This matches super-app models that have become popular in Asia.

Tomaso Duso, Department Head at DIW Berlin and Chairman of the German Monopolies Commission, previously told Euronews: “It’s almost impossible to enter the EU market as an MNO, as access is tightly regulated and new spectrum licences are rarely awarded. 

“In contrast, it's not too difficult for non-traditional players to enter the market as mobile virtual network operators (MVNOs), as they can lease capacity from existing networks without having to invest in their own infrastructure.”

His comments are not related to Revolut’s latest announcement.

Product overview

Revolut’s plans will reflect the company’s ‘no fuss’ digital ethos, offering unlimited texts, calls and data at home. There will be no fixed contract obligations and the option to get a local phone number.

UK customers can access 20GB of roaming across the US and EU and German customers will receive 40GB of EU roaming. Plans for EU customers who visit the UK are yet to be announced.

Customers can manage the service through the Revolut app and access the benefit of payment via loyalty points gained across the fintech’s rewards scheme.

Customers can register early by joining a waitlist. Revolut will charge an introductory price of £/€12.50 per month.

Hadi continues: “Mobile offerings are ripe for disruption. Traditional providers have hidden fees, painful experiences, and outdated UX. We're solving all three with a tech-led, transparent, value-first product.”

Revolut’s move is part of a wider ecosystem play. The fintech is securing its goal of becoming a single digital hub, following past launches of mortgages, eSIMs and hotel bookings.

It focuses on seamless integration and a strong value proposition that matches its digitally native customer base.

What impact will this have on the fintech industry?

Revolut’s entry into the telecoms industry mirrors a wider evolution from single-service disruptors to lifestyle-focused, multi-service platforms.

The company will remove the boundaries between fintech and telco by entering this new market. Not only will this pressure both legacy banks and telecom providers to rethink how they add value to customers, but it may encourage banks to look to partnerships or white-labelled services to compete.

Revolut’s announcement will offer a new case for vertical expansion as a strategic means of greater growth. This will help fintechs that are facing tightening margins and saturated markets in core financial services.

Revolut will raise the bar for consumer expectations by planning to integrate mobile services directly into its app and make payments via loyalty points and transparent pricing. This will mean the fintech will meet rising demands from users for integrated, convenient and flexible digital services. 

Revolut’s telecoms launch will point to a wider fintech shift towards ecosystem ownership, consumer lifestyle enablement and cross-industry disruption. 

It showcases how the future of the fintech industry will centre on fintechs creating connected digital experiences that extend beyond banking.

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