Revolut Broadens Offerings for Thousands of Indian Users in Anticipation of Full Launch

Revolut, a prominent British fintech firm, has quietly launched its services in India, currently in a limited beta stage while preparing for a broader rollout. This represents a pivotal move in its goal to become a major player in India’s rapidly expanding digital payments landscape.

Earlier this year, Revolut started allowing signups in India, and a select group from the waitlist has just begun using the services, as reported by TechCrunch. The company confirmed its phased approach, indicating that thousands of Indian users are now engaging with the platform.

This cautious strategy is a crucial element of Revolut’s long-term plan to establish its presence in the Indian market, notably significant for government-backed digital transactions through the Unified Payments Interface (UPI). UPI currently contributes to approximately half of the global real-time payments transaction volume, reporting an impressive 23.2 billion transactions totaling ₹29.9 trillion (about $313.8 billion) in May, according to official statistics.

In a statement to TechCrunch, a Revolut spokesperson emphasized the importance of “controlled onboarding of waitlisted users,” noting that a beta version of the app for Indian users is now available on both the Google Play Store and the Apple App Store.

“This initiative is intended to gather feedback on key product features and improve the user experience before opening access to a wider audience,” the spokesperson elaborated.

At present, the rollout involves only a small fraction of the roughly 450,000 users on the waitlist.

Beta users can access features such as UPI payments, e-money wallets, domestic prepaid cards, multi-currency cards, virtual cards, and disposable cards, as disclosed by the company. Revolut plans to gradually add its Lifestyle and RevPoints features as the beta progresses. However, family accounts—available in several other countries—will not be launched in India due to licensing restrictions, the company clarified.

Since 2021, Revolut has been establishing its strategy for entering the Indian market by appointing fintech specialist Paroma Chatterjee to lead local operations. Last year, the London-based company acquired Arvog Forex to enhance its regulatory framework in India, improving its remittance and multi-currency account services. They have also secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, facilitating the issuance of prepaid cards, supporting digital wallets, and connecting to the UPI network.

The company informed TechCrunch that it plans to directly onboard all users “soon,” though an exact launch date remains unconfirmed. Chatterjee noted in a LinkedIn update that a comprehensive product launch in India is anticipated in Q2.

Revolut aims to engage India’s expanding population of tech-savvy consumers as it positions itself to compete with traditional banks and fintech firms in one of the most competitive global financial service markets. The firm targets over 150 million “globally aspiring, digitally native” Indians aged 25 to 45, hoping to acquire about 20 million users by 2030 and facilitate at least $7 billion in transactions.

Interest in Revolut is rising as it prepares for a larger entrance into India. Estimates from Sensor Tower shared with TechCrunch suggest that the Revolut app has garnered nearly 820,000 downloads in India since its release in app stores, with over a third of these downloads taking place in 2025 and early months of 2026.

While Revolut’s main download markets remain focused in Europe—led by France, the U.K., Spain, Italy, and Germany—the company is increasingly looking at emerging markets for its growth. Sensor Tower also reported a 40% increase in downloads in Thailand and a 52% rise 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.