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

The British fintech giant Revolut has quietly launched its services in India, currently engaging in a controlled beta phase that sets the stage for a broader rollout. This is a significant advancement in its goal to gain a presence in the fast-evolving digital payments sector in the country.

Earlier this year, Revolut started allowing signups for its app in India, and recently, a select number of users from the waitlist have gained access to its features, as reported by TechCrunch. The company has acknowledged this gradual rollout, stating that thousands of users in India are now utilizing the platform.

This phased rollout represents a key milestone in Revolut’s long-term vision to penetrate the Indian market, which is crucial for digital payments, augmented by the government-backed Unified Payments Interface (UPI) that has transformed transactions for consumers and businesses alike. UPI accounts for nearly 50% of the global real-time payments transaction volume, facilitating an impressive 23.2 billion transactions worth ₹29.9 trillion (around $313.8 billion) in May, per government data.

A spokesperson for Revolut shared with TechCrunch that the company is currently involved in the “controlled onboarding of waitlisted users,” also noting that a beta version of the app designed for Indian users is available on both the Google Play Store and Apple App Store.

“This initiative is aimed at gathering feedback on essential product features and enhancing the overall customer experience before expanding access to a broader audience,” the spokesperson explained.

At present, the rollout reaches only a small segment of the approximately 450,000 users on the waitlist.

Beta participants can access features such as UPI payments, e-money wallets, domestic prepaid cards, multi-currency cards, virtual cards, and disposable cards, according to the company’s announcement. Revolut intends to gradually introduce its Lifestyle and RevPoints offerings as the beta progresses. However, family accounts—available in some international territories—will not be provided in India due to licensing requirements, the company clarified.

Revolut has been preparing for its operations in India since 2021, appointing fintech leader Paroma Chatterjee to lead its local strategy. Last year, the London-based firm acquired Arvog Forex to strengthen its regulatory framework in the country and offer remittance and multi-currency account solutions. Following this, it secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, which permits the issuance of prepaid cards, digital wallet support, and UPI network integration.

The company revealed to TechCrunch its intention to facilitate direct onboarding for all users in the “near future,” though no specific launch date has yet been provided. Chatterjee previously indicated in a LinkedIn post that a comprehensive product launch in India is anticipated for Q2.

Revolut is poised to capitalize on India’s growing base of tech-savvy consumers as it strives to compete with traditional banks and fintech players in one of the most competitive financial services markets globally. The company aims to engage over 150 million “globally aspiring, digitally native” Indians aged 25 to 45, with a goal of onboarding approximately 20 million users by 2030 and enabling at least $7 billion in transactions.

Interest in Revolut is growing as it prepares for a wider launch in India. Estimates from Sensor Tower shared with TechCrunch suggest that Revolut’s app has accumulated nearly 820,000 downloads in India since its introduction to app stores. Over a third of these downloads took place in 2025 and the early months of 2026.

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