MUMBAI (Reuters) -London-based digital finance firm Revolut said on Wednesday it will launch its payment platform in India, its first foray into one of the world’s largest digital payments markets, as part of a planned global expansion. Revolut will let Indian users make domestic and international payments via its tie-ups with the Unified Payments Interface […]
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UK’s Revolut to launch India payments platform, eyes 20 million users by 2030
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MUMBAI (Reuters) -London-based digital finance firm Revolut said on Wednesday it will launch its payment platform in India, its first foray into one of the world’s largest digital payments markets, as part of a planned global expansion.
Revolut will let Indian users make domestic and international payments via its tie-ups with the Unified Payments Interface and Visa, starting with 350,000 waitlisted customers later this year before opening to others.
The company aims to sign up 20 million customers by 2030, it said in a statement.
The fintech firm invested over 40 million pounds in localising its technology to meet India’s data sovereignty rules, its only market where it has done so, a spokesperson said.
Revolut, which said last month it was exploring a U.S. bank purchase and credit card launch at home, is betting on India as a key plank of its global expansion.
(Reporting by Jaspreet Kalra; Editing by Nivedita Bhattacharjee)