Digital Bank Revolut Launches New Zealand Business Platform to Support SMEs

Traditional banks have long dominated business banking in New Zealand, with a market share of more than 90%. SMEs pay an average fee of 3.9% on cross-border transfers and may also face exchange-rate markups of 2%–5%. Revolut Business is seeking to reduce the cost of expanding overseas through digital onboarding, multi-currency accounts and expense management.

Revolut formally launched Revolut Business in New Zealand on June 25, 2026, supporting payments and receipts in 39 currencies. The platform also integrates corporate cards, payroll, transaction approvals and the Xero accounting system. It has more than 800,000 business customers worldwide, generates over NZ$1.65 billion in annualized revenue and processes more than NZ$60 billion in transactions each month.