Revolut's Strategic Expansion into India's Digital Payment Landscape

Revolut Enters India's Booming Digital Payments Market

Revolut, a leading UK fintech, launches a comprehensive payments system in India, targeting 20 million users by 2030 through UPI, Visa, and prepaid card offerings.

Revolut has officially marked its entry into India's thriving digital payments market, valued at over $1 trillion, with the launch of a new payments platform. This move aims to transform the costly digital payment landscape in India.

The company is strategically targeting India's young and aspirational demographic, seeking to acquire 20 million users by 2030. This marks Revolut's initial foray into one of the fastest-growing digital payment ecosystems globally.

Strategic Collaborations and Compliance

Revolut's integration with the Unified Payments Interface (UPI) and Visa positions it as a formidable player in the Indian market. This partnership enables seamless domestic and international transactions on a unified platform. An initial rollout to 350,000 waitlisted users is expected by the end of 2025, with plans for wider accessibility.

Paroma Chatterjee, CEO of Revolut India, revealed plans to introduce prepaid cards with digital wallets tailored to Indian consumers. The fintech has invested over £40 million to ensure compliance with India's stringent data sovereignty regulations, which are distinct from other markets.

Global Ambitions Bolstered by Indian Market Entry

Revolut's launch in India is part of its broader global expansion strategy, which includes acquiring a bank and launching credit cards in the UK. The Reserve Bank of India's license allows Revolut to offer both domestic payment services and international forex services, setting it apart from competitors who often operate within limited scopes.