Revolut Expands Access to Thousands of Indian Users Before Full Market Launch

British fintech company Revolut has begun providing access to its services in India through a controlled beta rollout ahead of a broader public launch, marking an important step in its long-running efforts to establish a presence in one of the world’s fastest-growing digital payments markets.

Earlier this year, Revolut opened registrations for its India app, and over the past few weeks, selected users from the waitlist have begun receiving access. The company confirmed that the rollout is underway and said that several thousand customers in India are already using the platform.

The launch represents a key milestone in Revolut’s multi-year push into India, where the government-backed Unified Payments Interface (UPI) has fundamentally changed how individuals and businesses transfer money. UPI now accounts for nearly half of all real-time payment transactions globally and handled a record 23.2 billion transactions worth ₹29.9 trillion (approximately $313.8 billion) during May, according to government figures.

A spokesperson for Revolut said the company is currently focused on the “controlled onboarding of waitlisters” and that a beta version of the app, customised for Indian consumers, is available on both the Google Play Store and Apple App Store.

According to the spokesperson, the limited rollout is intended to collect feedback on core product functionality, improve the user experience, and refine the platform’s overall value proposition before it is opened to a wider audience.

For now, access remains restricted to only a small portion of the roughly 450,000 users who have joined 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. Revolut said it plans to introduce its Lifestyle and RevPoints products before expanding access further. However, family and joint accounts, which are available in certain international markets, will not be offered in India because those products require a banking license.

Revolut has been developing its operations in India since 2021 and has appointed fintech executive Paroma Chatterjee to oversee its local business. In 2022, the London-based company acquired Arvog Forex to strengthen its regulatory footprint and expand its support services, including remittances and multi-currency accounts. It later received 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.

The company said it expects to begin direct onboarding for all users in the near future but did not provide a specific timeline for the full launch. Chatterjee had previously indicated in a LinkedIn post that Revolut was aiming for a complete product launch in India during the second quarter of the year.

Revolut is positioning itself to serve India’s rapidly expanding population of digitally engaged consumers as it competes with established banks and fintech firms in one of the world’s most competitive financial markets. The company has previously stated that it intends to target more than 150 million “globally aspiring, digitally native” Indians aged 25 to 45. Its long-term objective includes acquiring around 20 million users by 2030 and processing at least $7 billion in transactions.

Interest in the platform has continued to grow ahead of the broader launch. Data from Sensor Tower estimates that Revolut’s app has been downloaded nearly 820,000 times in India since it became available on app stores. More than one-third of those downloads occurred during 2025 and the opening months of 2026.

Although Europe remains Revolut’s largest region by app downloads, with countries such as France, the United Kingdom, Spain, Italy, and Germany leading adoption, the company has increasingly focused on emerging markets to fuel growth. Sensor Tower estimates show that app downloads increased by 40% in Thailand and 52% in Vietnam during 2025. In Brazil, downloads surged 487% year over year to 1.8 million, underscoring the strategic importance of high-growth markets like India to Revolut’s broader global expansion plans.