Revuto is a crypto-based subscription payment solution built on Cardano’s scalable smart contract network. The platform turns members’ digital wallet into a digital bank and allows them to complete recurring payments for their favorite goods and services.
Revuto aims to change the overall concept of paying for subscriptions by offering more flexibility to users.
Problems that Revuto tries to solve
For people who are fans of online shopping, one of the biggest challenges can be managing multiple online purchases and subscriptions.
This is also complicated by the fact that many service providers always devise methods that discourage users from terminating or unsubscribing from their services.
Revuto has developed a DApp platform based on the scalable Cardano blockchain that helps users manage and control their subscriptions online. With Revuto DApp you can manage recurring payments on online digital news and Apple music.
Revuto intends to take advantage of fiat currency and combine them with the speed, low cost, and high efficiency that come with cryptocurrencies. The platform will have a debit card that will be used to make the payment when subscribing to online services. The card will also be used when purchasing the native cryptocurrency REVU.
Benefits of Revuto
· Users can easily turn on and off from online subscriptions
· Make payments via Cardano and REVU
· Approve, block, or postpone subscriptions and related recurring payments
· Users can bet on cryptocurrencies to access extra benefits
· Access a robust referral bonus in REVU for each user introduced to the platform
· Earn cashback in REVU for every subscription payment made with Revuto
Tap the DApp to pay
Cryptocurrencies are touted as the future of finance that resonates well with the internet generation, the digital age, millennials, and even boomers. Decentralized finance offers viable alternatives to the largely broken traditional financial system.
However, cryptocurrencies are seen as revolutionary, many improvements need to be made to get to the level of traditional currency. While blockchain technology itself has taken significant steps, including building user-friendly wallets and high-yield ledgers, small issues like subscriptions need to be solved if digital currencies are to hire fiat.
Revuto is seen as a step in the right direction and a logistical move in the evolution of cryptocurrency. One of the biggest challenges that have negatively affected the mass adoption of cryptocurrency is the limitations when it comes to paying for real-world necessities.
With Revuto, users can create and maintain recurring payments for crucial and essential services, many of which are part of their daily lives such as paying for Spotify, Netflix, dinner kits, cosmetics, and even software-as-a-service.
It is expected that the Revuto DApp will enhance digital assets by giving them the utility of fiat currency and the borderless and permissionless benefits of using digital currencies.
Reinventing the subscription economy
With the global digital economy in an uptrend, subscriptions are booming, but due to the fragmented nature of the subscription economy, users always find themselves stuck in a spiral of payments they can’t handle and some they know nothing about.
The Revuto ecosystem is powered by the native REVU token that is distributed to users for using Cardano native tokens to pay for subscriptions. The REVU token in addition to being used for subscription payment can be pointed to access additional returns or even to obtain loans secured by cryptography. It is also a governance token that allows users to vote on various proposals and suggestions that shape the future of Revuto as a whole.
Who would benefit from Revuto?
Revuto was designed with the interests of a digital age in mind. In particular, the platform helps users of medium-heavy digital services who have multiple annual subscription renewals. Customer segments include crypto advocates, tech early adopters, tech-savvy individuals, freelancers, millennials, and freelancers, among others. The startup is also aimed at SaaS service providers who need to automate and simplify their subscription to their services.
Revuto says it’s committed to strengthening the growing subscription economy by simplifying payments and protecting users from losing money through mysterious subscription fees, hidden costs, and unauthorized subscriptions.
Revoto’s $1.7 million private round
Revuto recently completed a $1.7 million private round with funds expected to be used to revamp the company’s crypto subscription payment solutions. The round attracted several major blockchain investors led by BlackDragon VC.
According to CEO Josipa Majic, Revuto is the first decentralized app (dApp) to be launched on the Cardano blockchain and is expected to demonstrate the network’s ability to handle high transactions at high speed and low cost.
How does Revuto work?
With the decentralized Revuto mobile application, users approve, block or postpone subscription payments. Since users pay for subscriptions through the Revuto dApp, they are rewarded with money and can also take out microloans using their wagered assets as collateral.
The lending feature allows users to access liquidity, manage their resources, and track key subscriptions. The Revuto dApp is expected to launch in two phases, with the first phase involving the launch of subscription-related payments. In the first phase, the platform will mainly rely on existing payment processors to facilitate crypto-to-fiat exchanges.
In the first phase, Revuto virtual debit cards will be used to support fiat payments, Cardano native EURR stablecoins and REVU tokens.
In the second, Revuto intends to expand its product offering by adding more services and support for other payments such as cable and cell phone bills, utilities, and even gym memberships. The company will also rely on its own authorized payment processor, a move aimed at minimizing system failures and increasing profit margin.
Pros and Cons of Revuto
· Allows users to efficiently manage their subscriptions
· Opens a new utility that hasn’t been well explored before
· Allows users to contract crypto loans
· Very low commissions involved
· The company is launching a new product that competes with already established blockchain products.
· Market demand may be low
Reguto’s main competitors
While Revuto operates a relatively new and unique niche, it is certainly not the first and it is not the only one. Major industry competitors include Chargify and ChargeBee. Revuto’s main advantage over its peers is its ability to cater to providers such as satellite service providers and Netflix services to name a few.