British fintech company Revolut has begun rolling out its services in India to a limited number of users as part of a controlled pilot program, in a step ahead of making the app available on a wider scale in one of the world's most competitive digital payments markets.
The company currently provides access to the service to some people who joined the waiting list it created earlier this year. Revolut confirmed that several thousand customers in India are already using the platform, while the rollout remains limited to a small portion of the roughly 450,000 users registered on the list.
Testing the Service Before Expansion
A Revolut spokesperson said the company is currently conducting a controlled onboarding process for users on the waiting list, and that the pilot version of the app, configured for users in India, is available through the Google Play and Apple App Store.
According to the company, this phase is intended to gather feedback on the product's core functions and improve the customer experience and the value the service provides before opening the platform to a larger audience. Revolut intends to enable direct registration for all users in the near future, but has not provided a specific timeline for doing so.
Available Services and Limitations
Services available to pilot-program participants include Unified Payments Interface payments, known by the abbreviation UPI, e-money wallets, local prepaid cards, multi-currency cards, as well as virtual cards and single-use cards.
The company plans to add its Lifestyle and RevPoints services before expanding the rollout. However, Revolut will not offer family or joint accounts in India, which are available in some of its overseas markets, because these products require a banking license, according to the company.
A Large Payments Market
Revolut's move comes in a market where the Indian government-backed UPI network plays a central role in transferring money between consumers and businesses. According to Indian government data, UPI accounted for about half of the global volume of instant-payment transactions, recording a record 23.2 billion transactions in May worth 29.9 trillion rupees, or about $313.8 billion.
Revolut has been building its Indian operations since 2021, and acquired Arvog Forex in 2022 to strengthen its regulatory presence and provide remittance and multi-currency account services. It later obtained a prepaid payment instrument license from the Reserve Bank of India, allowing it to issue prepaid cards, support digital wallets and integrate with the UPI network.
Ambitious Growth Plans
The company is targeting Indian consumers accustomed to digital services, and previously said it aims to serve more than 150 million Indians between the ages of 25 and 45, with a goal of adding about 20 million users by 2030 and processing transactions worth at least $7 billion.
The initial uptake points to growing interest in the service ahead of the broader launch; Sensor Tower estimates, according to data cited by TechCrunch, that the Revolut app has been downloaded about 820,000 times in India since becoming available in app stores, with more than one-third of those downloads recorded during 2025 and the first months of 2026.