Revolut Begins India Beta Rollout, Targets UPI Growth

Revolut has launched a controlled beta program in India, offering localized services to a few thousand users from a waitlist of about 450,000, the company confirmed Monday. The British fintech is integrating with India's Unified Payments Interface (UPI), which handled 23.2 billion transactions worth ₹29.9 trillion ($313.8 billion) in May, to provide UPI payments, e-money wallets, prepaid cards, and multi-currency accounts. The rollout follows Revolut's acquisition of Arvog Forex and a prepaid payment instrument license from the Reserve Bank of India. The company targets digitally native Indians aged 25-45, aiming for 20 million users and over $7 billion in processed transactions by 2030. App downloads in India have reached nearly 820,000, with over a third coming in 2025 and early 2026, per Sensor Tower. Revolut plans a full launch after gathering user feedback but hasn't set a date.