Finance
UK's Revolut to launch India payments platform, eyes 20 million customers by 2030
Published by Global Banking and Finance Review
Posted on October 8, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 8, 2025
2 min readLast updated: January 21, 2026
Revolut is launching its payment platform in India, aiming for 20 million users by 2030. The firm will offer prepaid cards and digital wallets, focusing on the youth demographic.
MUMBAI (Reuters) -London-based digital finance firm Revolut said on Wednesday it will launch its payment platform in India, its first foray into one of the world's largest digital payments markets, as part of a planned global expansion.
Revolut will let Indian users make domestic and international payments via its tie-ups with the Unified Payments Interface and Visa, starting with 350,000 waitlisted customers later this year before opening to others.
The UK-based fintech firm, which said last month it was exploring a U.S. bank purchase and credit card launch at home, is betting on India as a key plank of its global expansion.
It will offer a prepaid card and a digital wallet in India, Paroma Chatterjee, CEO of Revolut India, said.
The firm will use the prepaid payments instrument license it secured from the Reserve Bank of India earlier this year to offer domestic payment services, Chatterjee said.
It also has a license to offer forex services.
The company aims to sign up 20 million customers by 2030, by targeting the "aspirational youth" demographic, Chatterjee said.
Revolut has invested over 40 million pounds (about $53.7 million) in localising its technology to meet India's data sovereignty rules, the only market where it has done so, a spokesperson said.
($1 = 0.7450 pounds)
(Reporting by Jaspreet Kalra and Ashwin Manikandan; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
A payment platform is a technology solution that allows businesses and consumers to make financial transactions electronically, facilitating payments for goods and services.
Digital banking refers to the use of digital technology to provide banking services online, allowing customers to manage their accounts, make transactions, and access financial services via the internet.
A prepaid card is a type of payment card that is preloaded with a specific amount of money, allowing users to spend only the amount loaded onto the card.
The Unified Payments Interface (UPI) is a real-time payment system developed in India that enables users to link multiple bank accounts to a single mobile application for seamless fund transfers.
Forex service refers to the exchange of one currency for another, typically offered by financial institutions to facilitate international trade and travel.
Explore more articles in the Finance category
