Revolut Grows Offerings for Thousands of Indian Users Prior to Full Launch

Revolut, the prominent British fintech company, has quietly launched its services in India, currently in a limited beta phase to pave the way for a broader rollout. This development is a significant stride in its objective to become a key player in India’s evolving digital payments sector.

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

This measured introduction is a crucial part of Revolut’s long-term plan to penetrate the Indian market, which is essential for digital transactions supported by the government-backed Unified Payments Interface (UPI). UPI constitutes nearly half of the worldwide real-time payments transaction volume, with a remarkable total of 23.2 billion transactions worth ₹29.9 trillion (approximately $313.8 billion) in May, according to government figures.

A Revolut representative told TechCrunch that the firm is in the midst of “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 Apple App Store.

“This initiative seeks to gather feedback on essential product features and enhance the overall user experience ahead of expanding access to a wider audience,” the representative explained.

Currently, the rollout covers only a small portion 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, as stated by the company. Revolut plans to gradually introduce its Lifestyle and RevPoints features as the beta phase progresses. However, family accounts—available in some other countries—will not be made available in India due to licensing constraints, the company clarified.

Since 2021, Revolut has been preparing to enter the Indian market by appointing fintech expert Paroma Chatterjee to lead its local strategy. Last year, the London-based firm acquired Arvog Forex to strengthen its regulatory compliance in the country and offer remittance and multi-currency account solutions. Subsequently, it secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, permitting the issuance of prepaid cards, support for digital wallets, and integration with the UPI network.

The company informed TechCrunch of its intentions for direct onboarding of all users “in the near future,” although a specific launch date has yet to be disclosed. Chatterjee indicated in a LinkedIn post that a full product launch in India is anticipated in Q2.

Revolut aims to tap into India’s growing base of tech-savvy consumers as it seeks to compete with traditional banks and fintech companies in one of the most competitive financial services markets worldwide. The firm aims to reach over 150 million “globally aspiring, digitally native” Indians aged 25 to 45, targeting approximately 20 million users by 2030 and facilitating a minimum of $7 billion in transactions.

Interest in Revolut is increasing as it prepares for a larger launch in India. Sensor Tower estimates provided to TechCrunch suggest that the Revolut app has amassed nearly 820,000 downloads in India since arriving in app stores. More than one-third of these downloads took place in 2025 and the early months of 2026.

While Revolut’s primary download markets remain highly concentrated in Europe—led by France, the U.K., Spain, Italy, and Germany—the company is increasingly looking towards emerging markets for growth. Sensor Tower also noted a 40% surge 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.