Revolut is launching a new point of sale terminal in Ireland to enable its business customers here to accept payments in person. The device aims to compete with similar offerings from companies such as Square, Shopify and SumUp.

It is part of Revolut’s growing offering aimed at business customers as it tries to grab market share in the corporate banking space. The system integrates with the fintech’s business focused technology, allowing it to make funds available within 24 hours it claims.

Revolut Terminal has integrated Wifi and SIM connection, and the company claims its battery will last all day. It also allows Revolut customers to pay directly from their Revolut app and earn loyalty points, at no cost to the merchant.

Transaction fees for Revolut Pay are 0.5% plus 2c.

Users can also pair it with Revolut’s point of sale software, so that they can see advanced analytics, table mapping, customer catalogues and other information. Pre-orders for the device in Ireland will start in the next month and it will initially cost €139 plus VAT.