HOUSE OF SCANDINAVIA
Revved up for a successful partnership
Last summer, SAS launched the EuroBonus travel wallet,a multi-currency digital wallet that allows users to upload their accounts with local currencies and earn EuroBonus Extra points by making qualifying purchases that can be used all over the world.
For Rev, the fintech company behind the wallet, it marked the start of a partnership with SAS that led to it becoming the major partner at the House of Scandinavia at this year’s SXSW.
Rev co-founder and CEO Roy Sosa, who has extensive experience in disruptive payments and the financial services sector, is convinced that the concept could theoretically be rolled out on a more extensive basis that would help increase not just business but also the exchange of ideas between Scandinavia and the US.
“We love the House of Scandinavia concept. We need each other, not just Rev and SAS, but our respective regions,” says Sosa. “Scandinavia is a leader in what we term civil society, where they take a more collective view on things. It’s also a leader in sustainability, in areas such as food and the environment, but as I like to tell our partners there, ‘you’re preaching to the converted.’
“People still don’t quite get that here in the US – many still have two or three fridges and big trucks, for example, so we could do with some Scandinavian transparency and pragmatism. At the same time, maybe Scandinavians need a bit of that feeling that it’s ok to fail. We can even envisage the idea of having a permanent House of Scandinavia here in Austin to really build a bridge – SAS isn’t just an airline, it’s a company that transports ideas and dreams – we’d like our partnership with SAS to empower entrepreneurs to discover the world,” he adds.
Sosa’s vision of a permanent House of Scandinavia underlines the benefits he sees in increased US – Scandic relations and the ambitions he has for the travel wallet in the future as he looks to roll it out on a global basis.
“We started in the US and Scandinavia came next. We’re now live in Latin America, the Middle East and Australia, with the UK next. We want to be the best financial services provider for international travelers, whether you’re a 24-year-old graduate straight from university, or a regular business traveler – we want to be your ‘sherpa’ when you’re climbing Everest.”
The SAS EuroBonus Travel Wallet, which has no annual fee, includes a physical Mastercard that can be used at over 30 million merchants worldwide, at ATMs and for secure online purchases.Rev offer 14 different “wallets” in which you can have multiple currencies, so you can save on foreign exchange and earn points.
“We have a long term relationship with SAS. From our side the aim for the travel wallet is to each year offer more and rewards and benefits to the consumer,” says Sosa.