Revolut has announced its entry into the Indian market through the launch of a payment’s platform.
The offering will include a prepaid card and digital wallet and will support both domestic and international transactions via integrations with UPI and Visa.
The company will operate in India under a prepaid payment instrument licence as well as a forex services licence, both granted by the Reserve Bank of India.
In its initial phase, the platform will be made available to approximately 350,000 waitlisted users, before being opened to the general public.
Revolut has set an ambitious target of acquiring 20 million customers in India by 2030, with a particular focus on the “aspirational youth” demographic.
To support this launch and local adaptation, the company has invested over £40 million (roughly USD 53.7 million) in technology localisation, reflecting India’s stringent data sovereignty requirements.
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