I know the topic offline transactions has been discussed a lot here. Unfortunately, I don’t think the current solution of Revolut is very good for two reasons:
- Cards that allow offline transactions are much faster (please correct me if I’m wrong). I’ve been to a shop with my mother a few days ago and she paid with a VISA credit card that allows for offline transactions. The terminal beeped even before the card reached it, that’s just awesome. With Revolut, it takes a number of seconds, you have no problem reading the “Authorizing…” text on the screen.
- Some terminals aren’t connected to the internet and, thus, transactions fail. This is a big issue from my point of view.
The general argument against offline transactions has been that the account could then go below zero when transactions are committed. I have two proposals here:
- Trust users after some time. Is it really such a big danger for Revolut to allow me to spend 50 Euros offline if I’ve spent 15.000 Euros with Revolut over the past year?
- Allow users to block money for offline transactions. For example, the card could allow up to 100 Euro offline if the users blocked 100 Euro on their account. Online transactions would than if the account would come close to 100 Euro and the users can withdraw these 100 Euro. Unblocking would take time or require the card to be blocked, …