British fintech Revolut has quietly begun offering its services in India as part of a controlled beta program ahead of a wider rollout, marking a major milestone in its long-running push to enter the country’s fast-growing digital payments market.
Revolut began taking registrations for its app in India earlier this year, and some users who joined the waiting list have been able to access its services in recent weeks, according to TechCrunch. The company confirmed the launch and said that a few thousand customers in India are already using the platform.
The launch marks a major milestone in Revolut’s long-running push to enter India, a major digital payments market where the federal government-backed Unified Payments Interface (UPI) has transformed the way consumers and businesses move money. UPI accounts for almost half of the world’s real-time payments transaction volume and processed a record 23.2 billion transactions worth ₹29.9 trillion (about $313.8 billion) in May, according to Indian government data.
A Revolut spokesperson told TechCrunch that the company is currently “in the controlled integration of waiting lists” and that a beta version of its app, tailored for Indian users, is available through the Google Play Store and Apple’s App Store.
“This is to gather feedback on the functionality of the core product and to strengthen the overall customer experience and value proposition before opening up the platform to a larger audience,” the spokesperson said.
The rollout is currently limited to a small subset of the company’s roughly 450,000 waitlisted users.
Users of the beta program can access UPI payments, e-wallets, domestic prepaid cards, multi-currency cards, virtual cards and single-use cards, the company said. Revolut plans to add the Lifestyle and RevPoints offers before expanding the rollout. Family or joint accounts — available in some of Revolut’s overseas markets — will not be offered in India because such products require a banking license, the company said.
Revolut was building its operations in India from 2021 and hired fintech executive Paroma Chatterjee to lead its local operations. In 2022, the London-based company acquired Arvog Forex to strengthen its regulatory presence in the country and offer remittance and multi-currency account services. It later secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, allowing it to issue prepaid cards, support digital wallets and integrate with the UPI network.
The company told TechCrunch that it plans to open up the app for direct onboarding of all users in the “near future,” but declined to provide a specific launch timeline. Chatterjee had previously he said in a LinkedIn post that Revolut was targeting a full product launch in India in the second quarter.
Revolut is targeting India’s growing base of digitally savvy consumers as it seeks to challenge incumbent banks and fintech firms in one of the world’s most competitive financial services markets. The company has previously said it aims to serve more than 150 million “globally aspirational, digitally native” Indians between the ages of 25 and 45, aiming to onboard around 20 million users by 2030 and process at least $7 billion in transactions.
Consumer interest in Revolut has grown ahead of its wider rollout in India. According to Sensor Tower estimates shared with TechCrunch, Revolut’s app has been downloaded nearly 820,000 times in India since it was made available on app stores. More than a third of these downloads took place in 2025 and the first months of 2026.
While Revolut’s biggest markets based on app downloads remain in Europe, led by France, the UK, Spain, Italy and Germany, the company is increasingly turning to emerging markets for growth. Sensor Tower estimates downloads in Thailand and Vietnam to grow by 40% and 52%, respectively, in 2025, while downloads in Brazil grew by 487% year-on-year to 1.8 million, underscoring the importance of markets like India to its long-term expansion strategy.
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