British fintech company Revolut has started introducing its services in India through a controlled beta rollout, taking a major step toward establishing its presence in one of the world's fastest-growing digital payments ecosystems.
Earlier this year, Revolut opened registrations for its India-focused app, and over the past few weeks, selected users from its waiting list have begun receiving access to the platform. The company confirmed that several thousand customers are already using its services as part of the early-stage rollout.
The move represents an important development in Revolut’s long-term strategy to enter the Indian market, where the government-backed Unified Payments Interface (UPI) has revolutionized digital transactions. UPI currently contributes nearly half of the world's real-time payment volumes and processed a record 23.2 billion transactions worth ₹29.9 trillion (approximately $313.8 billion) in May, according to government figures.
A Revolut spokesperson confirmed the company is currently “in the controlled onboarding of waitlisters” and noted that a localized beta version of the app is available on both the Google Play Store and Apple App Store.
“This is being done in order to gather feedback on core product functioning and enhance the overall customer experience and the value proposition before opening up the platform for a larger audience,” the spokesperson said.
At present, access is restricted to a limited portion of the nearly 450,000 users who have signed up for the waitlist.
Customers participating in the beta program can use a range of services, including UPI payments, e-money wallets, domestic prepaid cards, multi-currency cards, virtual cards, and disposable cards. The company also plans to introduce its Lifestyle and RevPoints features before extending access to a broader user base. However, family and joint accounts, available in some international markets, will not be introduced in India because such offerings require a banking license.
Revolut has been steadily building its India operations since 2021. To strengthen its local presence, the company appointed fintech veteran Paroma Chatterjee to oversee its India business. In 2022, it acquired Arvog Forex to expand its regulatory footprint and support services such as remittances and multi-currency accounts. The company later obtained a prepaid payment instrument (PPI) license from the Reserve Bank of India, enabling it to issue prepaid cards, operate digital wallets, and connect with the UPI network.
While Revolut has not disclosed a firm timeline for its nationwide launch, the company indicated that direct onboarding for all users is expected in the “near future.” Previously, Chatterjee had stated in a LinkedIn post that the company was targeting a full-scale launch during the second quarter.
The fintech giant is positioning itself to attract India's rapidly expanding population of digitally connected consumers. Revolut has previously outlined ambitions to serve over 150 million “globally aspiring, digitally native” Indians between the ages of 25 and 45. The company aims to onboard around 20 million users by 2030 and facilitate transactions exceeding $7 billion.
Interest in the platform has grown significantly ahead of the official launch. Data from Sensor Tower shared with TechCrunch estimates that Revolut’s app has been downloaded nearly 820,000 times in India since becoming available on app stores. More than one-third of those downloads occurred during 2025 and the early months of 2026.
Although Europe remains Revolut’s strongest region by app downloads, with major markets including France, the United Kingdom, Spain, Italy, and Germany, the company is increasingly focusing on emerging economies to drive future growth. Sensor Tower data indicates that app downloads increased by 40% in Thailand and 52% in Vietnam during 2025. In Brazil, downloads jumped 487% year-on-year to 1.8 million, underscoring the strategic importance of markets like India in Revolut’s global expansion plans.