Revolut, a neobank, is launching a mobile service called Mobile Plans, offering unlimited calls, texts, and data, along with a 20GB roaming allowance across Europe and the U.S., starting in the U.K. and Germany.
Revolut became one of the first U.K. financial institutions to offer global eSIMs for international connectivity, leading to millions of data plans used in over 100 locations worldwide.
Other FinTech companies like Nubank and potentially Monzo are also venturing into the telecom sector, blurring the lines between telecom and financial services.
Partnerships between FinTechs or financial institutions and telecoms are promoting financial inclusion globally, with a significant interest in banking offerings provided by telecom firms.