Revuto Explained – Bringing Subscription Control Back to the Customer

Revuto Explained – Bringing Subscription Control Back to the Customer

The post Revuto Explained – Bringing Subscription Control Back to the Customer appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

When it comes to new products, there are those that create new solutions to problems that don’t exist, and then there are those that fix actual real-life problems.

It’s safe to say that the team at Revuto has created a game-changing solution to a problem, and in so doing has disrupted one area of our daily consumer lives, using the blockchain. 

As a consumer, it is likely that you have more subscriptions to services and products than ever before. That’s because many companies have discovered that using the subscriber model brings more revenue than other payment models.

Subscriber services are an extremely effective way to monetize. We saw it with Microsoft changing their Office products from a one-off payment to a subscription model.

Highly irritating for customers, who had become accustomed to the one-off payment method for their computing programs, and who have nowhere else to go.

We see it on a daily basis with Netflix, Spotify, and through online magazine and newspaper subscriptions. 

Perhaps even more irritatingly, many products are now using onboarding promotions like “Get One Month’s Free Trial”, where you have to give your credit card details to gain access to the process.

And, if you forget to cancel your subscription after the trial you are automatically charged. Likely it’s happened to you.

The first and only subscription tracking and management tool

Revuto have created a subscription management tool that allows users to track and control all subscriptions. It sits on the blockchain, in fact it was Cardano’s first dApp and it  allows you to manage all of your subscriptions from one single interface.

That means pausing and restarting subscriptions whenever you need to, with one single click. It means never being subscribed to services when you can’t use them, and it means no more having to remember passwords.

The native token that sits at the heart of Revuto is the REVU. If you stake it to your subscription payments you never have to deal with managing subscriptions individually.

Pay for a single subscription with your REVU and gain access to all subscriptions using a password swapping feature.

What you can do with Revuto in a nutshell

Download the mobile app, add all of your subscriptions and get  VDCs (Virtual Debit Cards) one for each subscription, which allow you to conduct the following actions:

• Approve (pay for subscriptions),
• Block (stop subscription for this month, and reactivate when ready)
• Snooze (delay payments for this month, and automatically restart next month)
• Password swapping and sharing (eg. send your Netflix password to a friend and get Amazon Prime in return).

How does it work?

The platform allows you to pay safely in crypto using its wallet and uses DeFi technology to manage all of your subscriptions.

The dApp is free to download, and then you will pay a protection fee of around 5% for up to 5 subscriptions.

For professional users who have more than 15 users, they can use Revuto Pro, for a small membership fee.

More Features

The DeFi element of the platform allows users to earn, while managing their subscriptions. When using REVU tokens for payments, subscribers can stake their holdings, in exchange for passive yield on a micro scale, making this an avenue for income as well as a subscription management tool.

Users can access and pay with REVU tokens, by using the Revuto payment wallet. As well as micro-lending capabilities, users can stake their tokens and receive incentives for bringing liquidity to the protocol.

Additionally, members can get token rewards and cashback for recommending the service and bringing new users. REVU holders retain governance rights in the future direction of the protocol

Final Word

This is a popular app that solves a real-world problem while giving users the chance to make passive yield, and it’s clearly getting users excited.

Revuto saw mass success really fast by successfully onboarding 2.5 million early users, of which 1 million were onboarded within the first 14 days of launch.

With more and more products and services moving towards subscription-based models, a product that promises a simplification of subscription management comes at the right time.