UK-based financial technology company Revolut has revealed its plans to introduce a payments platform in India later this year.
As part of the firm’s wider international expansion strategy, the move marks Revolut’s entry into one of the world’s largest and fastest-growing digital payments markets. The initial rollout will begin with 350,000 users who have already joined a waiting list. Revolut’s service will allow both domestic and cross-border payments through integrations with India’s Unified Payments Interface (UPI) and Visa’s network. Once operational, the company expects to gradually expand access to the wider public.
Localisation and long-term plans
According to representatives from Revolut, more than GBP 40 million has been invested in adapting its technology to comply with India’s data sovereignty requirements. India is currently the only market where the firm has fully localised its systems to align with national data regulations.
The company has set an ambitious goal of attracting 20 million users across India by 2030. Revolut officials noted that India’s large, digitally connected population and its government-backed real-time payments infrastructure make it a critical market in the company’s global roadmap.
Revolut’s entry into India comes in the context of a series of international developments. The company recently indicated that it is considering acquiring a banking licence in the United States, alongside plans to introduce a credit card product in its home market. These efforts reflect the firm’s general aim to strengthen its presence in both established and emerging financial markets.
Moreover, Revolut has reportedly explored a potential initial public offering that could see it listed in both London and New York, with a valuation near USD 75 billion. If completed, it would mark one of the largest listings on the London Stock Exchange and place the company within the UK’s top 15 publicly traded firms.
