Revolut Opens First Physical Store In Barcelona

Revolut is opening its first physical store in Barcelona in the near future. No exact opening date has been disclosed yet. However, the company revealed that the new location will allow customers to access financial services in person. These include account support, onboarding, and general assistance. The store will also provide a space where users can interact directly with staff.

Notably, the company representatives claim the location won’t resemble a traditional banking branch, but will be a “high-visibility, immersive space”. That suggests the Revolut physical store in Spain might be tech-laden and include some fintech innovations next to personal assistance.

The move marks the company’s first step into physical retail. Until now, its services have been delivered mainly through its mobile app. Revolut’s mobile banking service has over 70 million users globally. Fully-digital experience, especially now enhanced by AIR in-app AI assistant, is optimal for many customers. At the same time, the fintech’s client feedback analysis also reveals repeated complaints about customer support quality, which are often linked to the lack of personal interaction and difficulty reaching a human agent in complex cases.

The Barcelona store is an experimental venue for Revolut, designed to combine digital and in-person banking services. Customers will be able to resolve issues, ask questions, and receive guidance on products at the location. No further details were provided about additional store location plans. Presumably, the fintech giant will develop further phygital banking strategy based on the performance and public demand illustrated by its first store.

“We chose Barcelona as the place to pilot our physical stores because it combines local density, global relevance, tourism and innovation,” a Revolut spokesperson exclusively told Euronews Business.

Spain has been used as a test market for some of the company’s earlier physical initiatives. Revolut previously introduced its first physical ATMs in the country, starting in Barcelona and Madrid. The ATM rollout began as a pilot with 50 machines, with plans to expand further, up to 200 ATMs across the country. The company has indicated that similar ATM deployments may extend to other European countries, but no wider rollout of physical stores has been confirmed.

Revolut has about 6 million customers in Spain, making it the company’s third-largest market globally, after the UK and France.