Thursday, February 18, 2016

Greeks use Revolut's app to skirt capital controls

Judging from the interest on Google for the prepaid card and payments app from the London based fintech company Revolut, the are experiencing rapid growth at the moment. Interestingly, most of the searches are coming from Athens. 

With capital controls still being in place in Greece, and many Greeks having a hard time getting cash out, it seems like locals have discovered the benefits of having a foreign card. A bit of Googling shows that it is being recommended as a way to skirt restrictions. A novel use of the company's product. Will fintech play an increasing role in the future in times of financial uncertainty?


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