Revolut is set to enter the Indian market later this year, marking a significant milestone in its global expansion strategy. Revolut aims to onboard 350,000 customers from its waitlist initially, with a goal of reaching 20 million users in India by 2030. This launch positions Revolut as a unique player in India’s digital payments ecosystem by integrating domestic UPI payments, prepaid Visa cards, and international spending capabilities into one seamless app.
The India-focused Revolut app will offer users a digital wallet along with prepaid cards that operate on the Visa network, enabling both domestic transactions and low-cost international spending. Features include customizable UPI handles, rewards on prepaid cards, budgeting tools, in-app security measures, fraud and travel insurance, and supervised accounts for youth. This all-in-one financial platform aims to offer Indian consumers unparalleled freedom and control over their money, facilitating both everyday payments and global transactions effortlessly.
Paroma Chatterjee, CEO of Revolut India, described this launch as a pivotal moment for both the company and Indian users. She highlighted that combining India’s robust domestic payment infrastructure with a world-class international spending product offers a new way for consumers to manage their finances. The collaboration with Visa further supports seamless, secure transactions with global acceptance from day one.
Revolut’s entry is backed by a substantial investment of over £40 million (around $53.7 million) dedicated to localizing its technology to comply with India’s data sovereignty laws, making India the only country where the company has undertaken such efforts. The fintech also holds a prepaid payments instrument license from the Reserve Bank of India and a license to offer foreign exchange services, enabling it to fully service Indian customers across multiple financial needs.
Targeting India’s large “aspirational youth” demographic, Revolut’s launch aligns with its broader five-year global plan to invest £10 billion, create thousands of jobs, and expand into over 30 new countries by 2030. The initiative is expected to accelerate India’s fintech innovation journey by offering integrated, borderless financial services tailored to the needs of modern digital consumers.
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The rollout will begin with onboarding waitlisted users before opening the platform for public access, signaling a new era in India’s digital payments and financial empowerment landscape.
