British fintech company Revolut has initiated a controlled beta rollout of its services in India, a pivotal step in its long-awaited entry into the burgeoning digital payments landscape of the country. This development follows the company's earlier efforts to sign up users for its India-specific app, with thousands of individuals already accessing its features.
As part of this limited launch, Revolut is currently onboarding a select group of users from its waitlist, providing them with a localized app available on both the Google Play Store and Apple's App Store. The goal is to gather valuable feedback on the app's functionality and enhance the overall user experience prior to a broader launch.
The introduction of Revolut in India comes at a time when the digital payments sector is thriving, with the federal government-backed Unified Payments Interface (UPI) revolutionizing financial transactions. UPI, which accounts for nearly half of global real-time payments, processed a staggering 23.2 billion transactions worth approximately ₹29.9 trillion (around $313.8 billion) in May alone, according to government data.
Users in the beta program can enjoy a variety of services, including UPI payments, e-money wallets, domestic prepaid cards, and multi-currency cards. However, some features, such as family accounts, will not be available in India due to regulatory requirements.
Revolut has been laying the groundwork for its Indian operations since 2021, appointing fintech veteran Paroma Chatterjee to spearhead local initiatives. The company further strengthened its presence by acquiring Arvog Forex in 2022, allowing it to offer remittance services and secure a prepaid payment instrument (PPI) license from the Reserve Bank of India.
Looking ahead, Revolut aims to open its app for direct user onboarding in the near future, with aspirations to serve over 150 million digitally savvy Indians aged 25 to 45. The company has set an ambitious goal of onboarding around 20 million users by 2030 and facilitating transactions worth at least $7 billion.
As interest in Revolut continues to grow, the app has seen nearly 820,000 downloads in India since its launch on app stores, with a significant portion of these occurring in 2025 and early 2026. While Revolut's primary markets remain in Europe, the company is increasingly focusing on emerging markets, highlighting India's potential as a key player in its long-term growth strategy.