Revolut Launches Payment Platform in India: A Fintech Powerhouse Enters the World’s Largest Digital Payments Market

London-based fintech giant Revolut has officially launched its digital payments platform in India, marking a significant entry into one of the world’s most dynamic fintech ecosystems. Announced at the Global Fintech Fest 2025 in Mumbai on October 8, 2025, the platform integrates seamlessly with the Unified Payments Interface (UPI) and Visa cards, enabling Indian users to conduct both domestic and international transactions with low fees and real-time capabilities. With ambitions to onboard 20 million users by 2030 and process over $7 billion in transactions, Revolut aims to challenge traditional banks’ “criminal” forex fees and capture a slice of India’s $3 trillion digital payments market.

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This launch comes amid Revolut’s global expansion, following acquisitions like Bancom Europe in July 2025, and positions the company to leverage India’s 1.4 billion population and UPI’s 15 billion monthly transactions. As Revolut rolls out beta access starting October 15, 2025, this move not only intensifies competition but also accelerates India’s shift toward borderless finance. This in-depth article explores the launch details, its strategic importance, historical backdrop, economic impacts, future outlook, and more, offering a complete perspective on Revolut’s Indian foray.

Why Revolut’s India Launch Is a Fintech Milestone

Revolut’s entry into India represents a calculated bet on the country’s explosive digital economy, where UPI has democratized payments and fintech unicorns like PhonePe and Paytm dominate. By offering multi-currency wallets, instant remittances, and fee-free forex up to certain limits, Revolut addresses pain points for NRIs and frequent travelers, potentially disrupting the $100 billion remittance market. The platform’s UPI-Visa hybrid model ensures interoperability, allowing seamless domestic QR scans and international card spends, while AI-driven budgeting tools add value for young urban users. For India, this influx of global fintech expertise could spur innovation in cross-border payments, aligning with RBI’s sandbox for international UPI linkages. Amid global headwinds like U.S. tariffs, Revolut’s launch signals investor confidence in India’s resilience, with potential to create 5,000 jobs in tech and operations by 2028.

Core Features of Revolut’s India Platform

UPI Integration: Instant domestic transfers via QR codes and mobile numbers.
Visa Card Support: Virtual and physical cards for international spending with low FX fees.
Multi-Currency Wallet: Hold and convert 30+ currencies, including INR, USD, and EUR.
Remittances and Budgeting: Zero-fee transfers up to limits; AI-powered expense tracking.
Security and Compliance: RBI-regulated, with biometric logins and fraud alerts.

Latest Events Surrounding Revolut’s India Launch

Global Fintech Fest Announcement on October 8, 2025

At the Global Fintech Fest 2025, Revolut’s India CEO Partha Bhat revealed the platform’s beta rollout, emphasizing its role in “transforming digital payments with UPI-Visa synergy.” The event, attended by RBI officials and fintech leaders, featured live demos of cross-border transactions.

Beta Access and User Onboarding (October 9, 2025)

Revolut began inviting early users on October 9, 2025, targeting urban millennials in Mumbai, Delhi, and Bengaluru. Initial feedback highlighted the app’s intuitive interface, with 10,000 sign-ups in the first 24 hours.

Investor and Media Reactions (October 8-9, 2025)

SoftBank-backed Revolut’s move drew praise from analysts at TechCrunch, who noted its potential to “take on Indian banks’ forex fees.” Shares of local competitors like Paytm dipped 2% on October 9, 2025, amid speculation of intensified rivalry.

Revolut’s Global Expansion and India’s Fintech Boom

Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut started as a simple FX app in the UK, growing to 45 million users across 35 countries by 2025 through aggressive expansion into banking and crypto. Its India entry follows a 2021 RBI in-principle approval and a 2023 full banking license pursuit, delayed by regulatory scrutiny. India’s fintech saga began with UPI’s 2016 launch, exploding post-demonetization in 2016 to 15 billion transactions monthly. Revolut’s arrival echoes PayPal’s 2020 India push, but with UPI integration, it adapts to local dynamics, building on the 2022 acquisition of Indian remittance firm Tinkoff.

Timeline of Revolut’s Key Milestones and India’s Fintech Evolution

Year	Event
2015	Revolut founded in UK as FX app.
2016	UPI launched in India, revolutionizing payments.
2021	RBI grants Revolut in-principle nod for India entry.
2023	Revolut acquires Tinkoff for Indian remittances.
October 2025	Revolut launches UPI-Visa platform in India.

Impacts of Revolut’s India Launch on the Fintech Landscape

Competition and Consumer Benefits

Revolut’s low-fee model could slash remittance costs by 50%, benefiting 18 million NRIs, while pressuring incumbents to innovate. Users gain from seamless global spending, potentially increasing UPI’s international share.

Economic Growth and Job Creation

The platform could process $7 billion in transactions by 2030, adding $500 million to India’s fintech GDP contribution and creating 5,000 jobs in compliance and tech.

Regulatory and Security Enhancements

RBI oversight ensures compliance, but it may spur stricter KYC norms, balancing innovation with fraud prevention.

Challenges and Risks

Data privacy concerns and competition from PhonePe could slow adoption, with initial user acquisition costs high in a saturated market.

Future Scopes: Revolut’s Roadmap in India

User Growth and Feature Expansion

Aiming for 20 million users by 2030, Revolut plans crypto trading and lending by 2027, targeting Tier-2 cities.

Global-India Synergies

Partnerships with RBI for international UPI could make India a remittance hub, processing $200 billion annually by 2030.

Innovation and Sustainability

AI fraud detection and green fintech initiatives align with India’s digital public goods vision.

Potential Scenarios for 2030

Optimistic: 25 million users, $10B transactions; market leader in remittances.
Moderate: 20 million users, $7B volume; strong niche player.
Pessimistic: 10 million users amid regulations; limited to urban elites.

Frequently Asked Questions (FAQs)

When did Revolut launch in India?

The platform was announced on October 8, 2025, at Global Fintech Fest, with beta access from October 15, 2025.

What makes Revolut’s India offering unique?

UPI-Visa integration for domestic/international payments, low FX fees, and AI budgeting tools.

How many users does Revolut target in India?

20 million by 2030, with $7 billion in transaction volume.

Is Revolut regulated in India?

Yes, under RBI guidelines, with full compliance for payments and remittances.

What are the key features for Indian users?

Multi-currency wallets, instant UPI transfers, and virtual Visa cards.

How will it impact local fintechs?

Intensifies competition, pushing innovations in fees and cross-border services.

Revolut’s India Debut: Reshaping Digital Finance

Revolut’s launch of its UPI-integrated payment platform in India on October 8, 2025, injects fresh competition into the world’s fastest-growing fintech market, promising affordable global transactions for millions.