Apps & Consumer
Revolut begins controlled beta rollout in India
Revolut has begun a controlled beta rollout of its services in India, currently limiting access to a small subset of its approximately 450,000 waitlisted users.
British fintech company Revolut has started rolling out its services in India through a controlled beta program. The company confirmed that a few thousand customers in India are already using the platform, which is currently limited to a small subset of its approximately 450,000 waitlisted users. A localized version of the app is available on the Google Play Store and Apple’s App Store. The company plans to add its Lifestyle and RevPoints offerings before expanding the rollout, and plans to open the app to direct onboarding of all users in the near future.
Revolut is entering a competitive digital payments landscape dominated by the Unified Payments Interface (UPI), India’s federal government-backed digital payments system. In May, UPI processed 23.2 billion transactions valued at ₹29.9 trillion (around $313.8 billion). To navigate this market, Revolut has spent years building its local presence under Paroma Chatterjee, who leads local operations in India. In 2022, the company acquired Arvog Forex to strengthen its regulatory position. It subsequently secured a prepaid payment instrument (PPI) license—a license allowing issuance of prepaid cards and digital wallets—from the Reserve Bank of India, enabling it to offer domestic prepaid cards, e-money wallets, and integrate with the UPI network.
The expansion is part of a broader strategy to capture emerging markets. In India, Revolut aims to target a base of more than 150 million Indians, with a goal of onboarding about 20 million users by 2030 and processing at least $7 billion in transactions. Consumer interest has already translated into nearly 820,000 app downloads in India, with more than a third occurring in 2025 and the first months of 2026. While Revolut’s largest markets by downloads remain in Europe—led by France, the U.K., Spain, Italy, and Germany—the company is seeing growth in other emerging regions. In 2025, its app downloads grew by 40% in Thailand and 52% in Vietnam, while downloads in Brazil grew 487% to 1.8 million.
A Revolut spokesperson stated that the beta is designed to gather feedback on core product functioning and enhance the customer experience before a broader launch. “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.
Why it matters
The rollout marks a significant milestone in Revolut’s years-long effort to enter India, a major digital payments market where the federal government-backed Unified Payments Interface (UPI) has transformed how consumers and businesses move money.