UK's Revolut to launch India payments platform, eyes 20 million users by 2030
- IBEF
- October 9, 2025
London-based digital finance firm Revolut has announced its entry into India, marking its first foray into one of the world’s largest digital payments markets as part of its global expansion strategy. The platform will enable Indian users to make domestic and international payments through the Unified Payments Interface (UPI) and Visa, initially serving 3,50,000 waitlisted customers before expanding access. Revolut will offer a prepaid card and a digital wallet, utilising the prepaid payments instrument licence obtained from the Reserve Bank of India earlier this year. The firm also holds a licence to provide foreign exchange services. Chief Executive Officer of Revolut India, Mr. Paroma Chatterjee, highlighted that the company aims to reach 20 million customers by 2030, targeting the aspirational youth demographic.
Revolut has invested over US$ 46.58 million in localising its technology to comply with India’s data sovereignty rules, making it the only market globally where the company has undertaken such measures. This launch reflects Revolut’s commitment to establishing a strong presence in India’s rapidly growing digital payments ecosystem. The company’s entry comes as part of broader initiatives, including exploring a United States (US) bank acquisition and a credit card launch at home, positioning India as a key component of its global growth ambitions.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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