Revenir AI, a FinTech firm, launches hassle-free mobile VAT reclaim for travelers

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Revenir AI, a UK FinTech startup, has developed a white-label app for banks that allows travelers to automatically claim VAT on purchases made abroad using their phones.

Every year, billions of pounds in VAT and similar taxes go unclaimed by UK shoppers in Europe because the recovery process is often clunky, confusing, and difficult to access. The company has created a white-label app for banks that allows them to automatically refund VAT to their retail customers using debit or credit cards in an average of 48 hours.

Whereas airport reclaims currently take hours of queuing and can cost between 40 and 70%, digital processes take weeks and require a lot of paperwork and receipt copies, with a commission of 35% or more.

Read More: Fintech firm Revenir AI pioneers hassle-free mobile VAT reclaim for travellers

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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