Revolut Disrupts Irish Telecom Market with 5G Mobile Plans and RevPoints Integration

Revolut has launched Revolut Mobile in Ireland, offering a 5G-ready plan that integrates directly with its banking ecosystem. By allowing users to pay for phone bills using RevPoints earned through card spending, the fintech giant is leveraging its massive Irish user base to challenge traditional telecommunications providers with a contract-free, app-managed alternative.

What was announced

The new service, Revolut Mobile, provides Irish consumers with a 5G-ready plan including unlimited data, calls, and texts. An introductory price of €9.99 per month is available to the first 25,000 customers who sign up, with the standard monthly rate set at €12.99 thereafter. The plan includes 20GB of data roaming within the UK and EEA, alongside a unique "Messaging Pass" that provides 1GB of low-speed data for use in over 120 non-EU countries to ensure users remain connected globally.

A central feature of the launch is the integration with Revolut’s loyalty program, RevPoints. Customers can redeem points earned through everyday debit or credit card spending to discount their mobile bill by up to 100%. For example, a customer on the Ultra plan paying the introductory €9.99 rate would need to spend approximately €1,400 monthly to cover their bill entirely with points. At the €12.99 price point, the required spend is roughly €1,800. Revolut noted that in other markets where the service is active, more than a third of customers utilized RevPoints to pay for their service in September.

The service is managed entirely within the Revolut app, removing the need for physical paperwork or long-term contracts. Users can port existing numbers, choose new ones, or select from a "VIP range" of numbers. The platform also supports up to three separate numbers on a single plan for an additional €2 per month. Security features are bolstered by the inclusion of NordVPN at no extra cost, providing ad-blocking and malware protection.

"We are bringing the same challenger mindset to telecommunications that helped us transform digital banking. Mobile contracts in Ireland have – for too long – been burdened by lofty pricing, hidden fees, and rigid long-term commitments. Revolut Mobile changes that by delivering flexible, premium connectivity managed entirely within the Revolut Bank app — allowing customers to utilise the RevPoints they earn on everyday spending towards their mobile plan."

Elyas Sadou, General Manager – Telecom at Revolut

The companies involved

Revolut is a global financial services leader that has rapidly expanded from its origins as a multi-currency travel card into a full-scale digital bank. With over 80 million users worldwide and 3.4 million customers in Ireland alone, the company has achieved significant market penetration, with approximately 80% of Irish adults now using the platform. Revolut recently reached a valuation of $115 billion, cementing its status as one of the most valuable private fintech companies globally. Its expansion into telecommunications marks a strategic move to deepen its "super-app" ecosystem by bundling utility services with core banking.

The mobile service is powered by Gigs, a specialist in embedded connectivity. Gigs provides the underlying infrastructure that allows non-telecom companies to offer branded mobile services through an API-driven platform. Based in the United States and Europe, Gigs has become a key partner for financial institutions looking to integrate mobile plans into their digital offerings. By handling the technical complexities of carrier relationships and network integration, Gigs enables fintechs to launch 5G services in a matter of days rather than months.

What FF News has reported before

FF News has closely tracked Revolut’s aggressive growth and diversification. On November 4, 2024, we reported that Revolut Hits $115 Billion Valuation Following Global Banking Expansion and Record Profits, highlighting the firm's transition into a profitable global powerhouse. The company has also maintained a high profile through marketing initiatives, such as when Revolut Unveils Bespoke Audi F1 Livery and Special Edition Card for São Paulo Grand Prix earlier this month.

The infrastructure behind this latest launch follows a trend of major banks adopting Gigs' technology. On November 3, 2024, FF News covered how BBVA and ING Launch Integrated Mobile eSIM Services Powered by Gigs, and specifically how ING Launches In-App Travel eSIM via Gigs Integration to Expand Mobile Connectivity. These reports underscore a broader industry shift where financial institutions are increasingly acting as mobile virtual network operators (MVNOs) to increase customer retention.

What this means

This move represents a direct assault on the traditional telecommunications business model. By treating mobile connectivity as a feature of a banking subscription rather than a standalone profit center, Revolut can undercut incumbent telcos on price and flexibility. The use of RevPoints to subsidize bills creates a powerful "lock-in" effect; customers are less likely to switch banks or mobile providers when their daily spending effectively makes their phone service free. For the wider industry, this signals that the "super-app" race is entering a new phase where financial services and essential utilities are no longer distinct sectors. Traditional mobile operators now face a market where their primary competitors might soon be the banks already sitting in their customers' pockets.