Revolut Broadens Offerings for Thousands of Indian Users Before Full Launch

Revolut, a prominent British fintech company, has quietly launched its services in India, currently operating in a limited beta phase as it prepares for a broader rollout. This signifies a crucial move towards its goal of becoming a major player in India’s expanding digital payments sector.

Earlier this year, Revolut began allowing signups in India, and a select group from the waitlist has recently gained access to the services, as reported by TechCrunch. The company confirmed this phased approach, indicating that thousands of users in India are now engaging with the platform.

This cautious launch is an essential aspect of Revolut’s long-term strategy to establish a footprint in the Indian market, which is pivotal for government-backed digital transactions via the Unified Payments Interface (UPI). UPI accounts for almost half of the global real-time payments transaction volume, boasting a staggering 23.2 billion transactions valued at ₹29.9 trillion (about $313.8 billion) in May, as per official figures.

A Revolut representative shared with TechCrunch that the company is currently focused on “controlled onboarding of waitlisted users,” adding that a beta version of the app for Indian customers is now available on both the Google Play Store and the Apple App Store.

“This initiative aims to gather feedback on critical product features and improve the user experience before expanding access to a larger audience,” the representative elaborated.

Currently, the rollout includes only a small fraction of the approximately 450,000 individuals on the waitlist.

Beta users can access features like UPI payments, e-money wallets, domestic prepaid cards, multi-currency cards, virtual cards, and disposable cards, according to the company. Revolut plans to gradually introduce its Lifestyle and RevPoints features as the beta phase continues. However, family accounts—available in several other countries—will not be accessible in India due to licensing constraints, the company stated.

Since 2021, Revolut has been preparing for its Indian market entry by appointing fintech expert Paroma Chatterjee to lead its local strategy. Last year, the London-based firm acquired Arvog Forex to enhance its regulatory framework in India and facilitate remittance and multi-currency account options. Additionally, they received a prepaid payment instrument (PPI) license from the Reserve Bank of India, enabling the issuance of prepaid cards, support for digital wallets, and integration with the UPI network.

The company informed TechCrunch that it plans to directly onboard all users “in the near future,” though a specific launch date remains unconfirmed. Chatterjee mentioned in a LinkedIn post that a full product launch in India is anticipated in Q2.

Revolut aims to tap into India’s growing population of tech-savvy consumers as it seeks to compete with traditional banks and fintech firms in one of the most competitive financial services markets globally. The firm targets over 150 million “globally aspiring, digitally native” Indians aged 25 to 45, aiming to acquire around 20 million users by 2030 and facilitate at least $7 billion in transactions.

Interest in Revolut is surging as it prepares for a wider launch in India. Estimates from Sensor Tower shared with TechCrunch suggest that the Revolut app has garnered nearly 820,000 downloads in India since its launch in app stores, with over a third of these downloads occurring in 2025 and the early months of 2026.

While Revolut’s primary download markets continue to be concentrated in Europe—led by France, the U.K., Spain, Italy, and Germany—the company is increasingly focusing on emerging markets for its growth. Sensor Tower also reported a 40% rise in downloads in Thailand and a 52% increase in Vietnam in 2025, with downloads in Brazil soaring by 487% year-over-year to 1.8 million, highlighting the significance of markets like India for its long-term growth strategy.