British payments giant Revolut has launched phone data plans with eSIM technology in the UK, making it the first company in the country to offer the service.
The company said it will begin rolling out phone plans with eSIM technology in the UK this week.
eSIMs are SIM cards that can be stored virtually on a device rather than in physical form.
According to CNBC, customers with the basic Revolut app can get a standard eSIM plan that allows them to top up their phone as needed through the Revolut app. Customers with the premium Ultra package for £55 per month will benefit from 3GB of data for worldwide use with incremental upgrades each month, allowing for seamless roaming.
The Ultra package is ideal for Brits who are constantly on the move for business and travel, as the cost of mobile internet abroad for UK residents has risen significantly since leaving the EU.
In addition, the company has launched a free trial for select Revolut Standard, Plus, Premium, and Metal users in the UK, which will run from February 12 to May 1, 2024.
The free trial will include the following features:
Choice of a local, regional, or global plan;
100MB of data;
Offer valid for 7 days.
Finance and technology company Revolut has partnered with UK mobile operator 1Global to launch its eSIM offering.
Tara Massoudi, general manager of premium products at Revolut, said Revolut's decision to launch eSIM is aimed at making the company a financial "super app" with services including bank accounts, currency exchange, insurance, travel booking, and airport lounge passes.
"Travel is a great value that we have always had, and it is still very important to our users," Massoudi emphasized.
It's worth noting that Kaleido Intelligence's latest analysis of the roaming and connectivity market found that retail spending on travel connectivity services, including roaming bundles and travel SIM cards, will grow to more than $30 billion by 2028.
With 35 million customers and a rapid response to changing digital needs, Revolut is well positioned to capture a significant portion of this market.
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